Main crypto information website CoinMarketCap has introduced the launch of its new metric to check exchanges and token pairs based mostly on liquidity.
New gadget on the dashboard
The announcement comes from The Capital, CoinMarketCap’s inaugural convention in Singapore on Nov. 12, and the software is now reside on the corporate’s website. The brand new metric will reportedly incorporate information from 3000 crypto belongings.
Aspiring to filter out market manipulation, CoinMarketCap will reportedly base the brand new liquidity metric on adaptive information. Carylyne Chan, chief technique officer at CoinMarketCap, elaborated on the agency’s goals with their methodology:
“We imagine our adaptive methodology will make our metric very tough to ‘recreation’ as orders would should be positioned near the mid-price, or threat being counter-productive to the Liquidity metric scoring.”
Liquidity > Quantity
The agency mentioned that it sees its new metric as a method of escaping dependence on quantity reporting, which is usually topic to scrub buying and selling and different technique of manipulation on totally different exchanges. At The Capital, Chan mentioned that “quantity has misplaced its worth as a metric.” She additional defined CoinMarketCap’s need to shift focus away from quantity:
“As we speak, we’re introducing a brand new metric to spotlight what issues most to traders and merchants: liquidity. With our Liquidity metric, we hope to offer public good to the crypto markets by encouraging the supply of liquidity as a substitute of the inflation of volumes.”
As of press time, CoinMarketCap had not responded to Cointelegraph’s request for extra data. This text shall be up to date if Cointelegraph receives extra data.
Different new instruments from CoinMarketCap
As Cointelegraph reported on the time, CoinMarketCap initially teased their deliberate liquidity metric on the finish of August, by which they cited Nov. 12 as their goal date.
In July, CoinMarketCap, alongside crypto information outlet Crypto Briefing, launched a brand new institutional-grade evaluation product known as Simetri. The product goals to offer verification and transparency in order-book information from crypto exchanges.
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