70% of Bitcoin exchanges joined CoinMarketCap alliance. They will fight with fake data

Analytical service CoinMarketCap presented the results of the first phase of the implementation of the Alliance for Accountability and Data Transparency (DATA) initiative aimed at collecting reliable information on cryptocurrency trading.

The DATA Alliance Phase 1 is now live! ? We are encouraged after seeing such strong support from many exchanges! ? Transparency and accountability is vital to the crypto space! ? Next up, phase 2! To join CoinMarketCap's DATA Alliance, please check out: https://t.co/zMm29TOcVh

– CoinMarketCap (@CoinMarketCap) June 18, 2019

Thus, more than 70% of the bitcoin exchanges represented on the service joined DATA, providing CoinMarketCap in a timely manner with information on tenders, as well as real-time book of market orders via the API.

Platforms that have not fulfilled the requirement of the resource will now be displayed in the general list below the exchanges that met the conditions.

In addition, CoinMarketCap intends to expand the list of listing requirements that were previously “concise”. Thus, the resource will add several new metrics at once, including an assessment of trading volumes, popularity, team information, product relevance, and others.

At the same time, for projects that do not meet all the requirements for data tracking, a separate category of so-called “untraceable listing” has been created.

It is worth noting that CoinMarketCap also announced for the first time the principles of exclusion from listing. Among such reasons: low liquidity, suspicious trading activity, termination of activity, misleading statements or illegal activities.

Now CoinMarketCap is preparing for the first roundtable with partners in the alliance, which is scheduled for mid-July.

Recall that the resource created an alliance with leading stock exchanges to combat fake data in early May after he was accused of publishing dubious information.

Then in CoinMarketCap the problem was recognized and promised to introduce new metrics to solve it.

For more information on the topic of fake trading on unregulated cryptobirths, please click here .

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