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Ripple, CMC's data credibility problem to review quarterly statistics and other calculation methods

HOME> News> Ripple Revisits the calculation method of quarterly statistics etc. in response to data reliability problem of CMC


Yuya 【CRYPTO TIMES Official Writer】

Yuya Coin Desk News

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

Ripple, which develops products based on the cryptographic asset XRP, has announced that it will review the calculation method of XRP volume and sales to be included in the quarterly report in response to the data uncertainty problem of CoinMarketCap (CMC).

Survey that Bitwise (Bitwise) , a cryptographic asset management company, up to 95% of the bitcoin (BTC) transaction volume listed in CoinMarketCap is due to bulk transactions using bots etc. this March Announced.

The survey revealed that many exchanges that provide data to CoinMarketCap are increasing the number of non-economical transactions by placing the same amount of buy and sell orders, and thus the credibility of the site. It was decided to shake.

CoinMarketCap, in turn, requested that each exchange offer live data on the deal and take action, such as excluding the problematic exchange from the database.

Ripple is working with partners to move towards volume reporting based on credible market data.

According to the company’s estimate, sales in the second quarter of 19 will be significantly lower than in the previous year, taking into account the uncertainty of CoinMarketCap’s data.

Bitwise ‘95% of BTC trading volume is disguised ‘summary of research report to SEC

Article Source: Ripple

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Author: Yuya 【Coin Desk News】 – Source Post: http://ceesty.com/w1GPpE

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