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Messari has released a new set of top trading cryptocurrency exchanges. This time it has added 10 new exchanges to its ‘real volume’ metric.
Crypto research platform Messari has reviewed its “real trading volume” analysis. This comes after a report recently came out concerning fake cryptocurrency trading volumes. Ten exchanges were identified with legitimate trading volumes: Coinbase Pro, Bittrex, Binance, Bitfinex, bitFlyer, Gemini, itBit, Kraken, Bitstamp, and Poloniex.
These new exchanges were part of its measurements. The recent changes have moved Huobi, UpBit, Liquid, OKEx, and Bithumb into the top ten by rankings. Binance is still the king of the hill. This lends credence to Coinmarketcap’s method of listing exchanges by web traffic.
Messari Brings Out the ‘Real Volume’ Winners
Coincidentally, Binance ranks number one on Coinmarketcap too. Messari said in a blog post:
“As a result, we’ve added 10 exchanges to our “real volume” metric, but applied a 50% haircut to the Korean and Chinese exchanges to better approximate their true volumes”.
The research firm continued:
“We believe this better reflects the *magnitude* of adjustment necessary vs. simple web traffic comparisons, which usually discount these volumes by ~90%”.
This indicates that Messari is ringing out the anomalies that currently exist in the crypto-space. Many overstated trading volumes exist due to the manipulation of order books.
Cryptocurrency trading exchanges have had their flaws. This sort of self-regulation will help to create a transparent cryptocurrency community.
Crypto naysayers have long accused many cryptocurrency exchanges of falsification of trading data. While there is an element of truth in some cases, many of the cryptocurrency exchanges churn out genuine data as well.
Messari has also indicated that they will update their methodologies very quarter. This is to allow for changes to their model as and when due. The firm also indicated that they have trained their analysis model to look for sudden changes to trading volumes.
These changes may consist of ethical trading behavior. But the reverse could also be occurring. The data of many exchanges can’t be verified. This spills over into the third party analysis. It also shows that crypto-space needs greater regulatory activity to foster transparency.
Transparency Comes to the Crypto-Space
Firms like Messari have come to bridge the gap between those firms whose data can be trusted and those who have issues. This gap has enabled a new paradigm: one where a true picture of the crypto-space can be painted without stress.
Cryptocurrency exchanges have come under fire for providing inaccurate data. This has further increased the depictions of the crypto-space of being a huge scam. Because of the actions of a bad few, many negative comments have come the way of those with integrity.
The great thing though is that these disparities will have to be resolved one way or the other. As in all things, conflict and its resolution are obvious.
We shall know the true trading volumes within the crypto-space as time progresses.
On Coinspeaker you can also find other cryptocurrency news.
Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.
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