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CoinMarketCap excludes Bitfinex data


Yuya 【CRYPTO TIMES Official Writer】

Yuya Coin Desk News

I have studied a wide range of technologies and applications of distributed ledger technology.

It turned out that CoinMarketCap (CMC) , a comprehensive site for cryptographic asset transactions and price data, has excluded the exchange that has become a topic of talk about stable coin Tether, Bitfinex, as a source of market capitalization estimation .

Since the beginning of 2019, it has become clear from the TIE and Bitwise surveys, etc. that many of the exchanges listed in the CMC have reported increased trading volume due to bot trading etc.

In response, CMC updated the rules on data legitimacy and transparency earlier this month, requiring each exchange to provide live data on trades and orders, giving a 45-day lead-in period.

However, as Bitfinex continued to record values ​​above $ 300 above the average price, CMC finally decided to exclude the exchange from the data used to estimate market capitalization .

Bitfinex has been ordered under suspicion of concealing property losses worth about $ 85 million, and it has also been found that ETH storage volumes for its Cold Wallet have been halved before long.

Clearly ETH storage volume of Bitfinex cold wallet was halved

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Author: Yuya 【Coin Desk News】 – Source Post: https://crypto-times.jp/coinmarketcap-excludes-bitfinex/

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