Sirlibz
Messari, a cryptocurrency data display and research platform has added 10 new exchanges to its list of Real Volume exchanges with Binance taking the #1 spot. Coin Market Cap few days back had changed their ranking protocol which had Binance leading the other exchanges, with Massari also having Binance on top list might just confirm the ranking.
Bitwise Investments, an asset management team in a recent study of trading volumes, had urged to rank exchanges without including any wash trading. The recent study conducted by them suggested that 95% of volume on exchanges was fake. The report singled out these 10 exchanges as those with real volume, the exchanges include: Binance, Bitfinex, Bitflyer, Bitstamp, Bittrex, Coinbase pro, Gemini, itBit, Taken and Poloneix.
How it’s Done.
Messari uses up to 10 third-party statistics in order to determine the true trading volume of an exchange, this includes: exchange rankings, ratings, and liquidity estimates from CoinGecko, CoinMarketCap, CryptoCompare, CryptoWatch (Kraken), Nomics, and FTX’s volume monitor, plus on-chain transaction data from Chainalysis and other on-chain data providers, and anecdotal data from top traders.
When this methodology change was applied, Messaris’s result had Houbi, OKEx, Liquid, Bithump and UPBit in top 10 by Real Volume. On their blog it’s stated that Binance tops the list with real volume across most listed assets.
How accurate is this method?
Commenting on how accurate this methodology is, Messari CEO Ryan Selkis said
This is a necessary change, but one that may seem counterintuitive at first glance. I can assure you, though, that it is more accurate, if less precise, than alternatives.
He also said that it’d be reviewed quarterly…
Importantly, we will review our methodology quarterly in order to add or remove constituent exchanges, and tweak volume adjustment parameters.
It seems all cryptocurrency data display and research platforms are interested in hunting down wash trading for good, at this rate it’s only a matter of time before they’re all wiped out.
