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Crypto Exchange Data; here is how to find the real data

crypto exchange data accuarcy

CoinGecko has revealed a new feature that can gauge the difference between the real and artificial trading volumes and the crypto-exchange will be awarded the proper score.

The crypto-market is volatile and any prediction regarding price or trading volume cannot be hundred percent guaranteed. Even the coin market cap has been known to have exaggerated data at one point.

CoinGecko has done deep research on this matter and also utilize the standards set by top 10 honest exchanges. Every exchange is assigned with different color and based on the impartiality and transparency.

But there are some technical flaws in this process like this feature uses the correlation between the number of people visiting the website and the trading volume.

As the expectations are the high trading volume is directly proportional to the more number of visitors, but this can at times not happen.

There were many cases that occur in the past where due to the fraud exchanges the volume would be artificially increased.

So, the transparency in this process is still a question. Also, the fraud exchanges can go to any extent to gain their own benefits, as they can buy the website visitors by giving them small incentives.

The Bitwise did analysis and came out with the conclusion that the fraud exchanges in the crypto-market are almost ninety-five percents (95%).

Only a few exchanges maintain the integrity and avoid any kind of inflation in their trading volumes. In the past, the Neophyte crypto exchange had utilized this tactic to get on the top of the CoinMarketCap.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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