Starting from November 12, CoinMarketCap (CMC), the main cryptocurrency analytics service, will launch new tools for assessing the liquidity of cryptocurrency exchanges. This information was released by company executives during a virtual round table of the Alliance for Accountability and Data Transparency (DATA), according to Cointelegraph.
As was noted by service representatives, the need to improve the process of evaluating the liquidity of exchanges is due to problems with money laundering.
Using the liquidity indicator as an assessment tool is not always correct, as it is very volatile and cannot be quantified. That is why the service team undertook to refine the approach to the evaluation of trading platform – said service representatives.
A month before the launch of a new tool, the CMC site will launch a special channel for exchanges, where they themselves will choose what information to disclose to users. Depending on the amount of data disclosed, exchanges will be assigned categories.
This should motivate trading platforms to reveal more information, which will increase the level of transparency in the industry.
It was noted that projects that do not join the initiative to track data will be excluded from the main rating, falling into the so-called “unmonitored listing”.