CoinMarketCap Now Ranks Crypto Exchanges by Web Traffic

News
Thu, 05/14/2020 - 19:03
Alex Dovbnya
CoinMarketCap, the most visited crypto website, now takes into account website traffic to rank cryptocurrency exchanges
Cover image via www.newsbtc.com
Contents

CoinMarketCap, the leading coin tracking website, has introduced a web traffic metric for ranking cryptocurrency exchanges.

The effort is meant to bring more transparency to the 'front page of crypto' that is constantly criticized for incentivizing trading platforms to report inflated trading volumes.

Binance leads the pack 

According to CMC’s blog post, the new web traffic factor takes into account a wide array of important traffic characteristics such as page views, unique visitors, bounce rate, etc.

As of now, Binance is in the first place, with Coinbase Pro and BitMEX sitting in second and third places. 

image by coinmarketcap.com

Notably, BKEX, a British Virgin Islands-registered crypto exchange, occupies a very distant 107th spot despite being the second-largest crypto exchange by reported trading volumes.         
Binance CEO Changpeng Zhao says that the exchange ranking is currently ‘heavily biased’ towards web traffic, but it's better than its previous iteration. 

More improvements

As reported by U.Today, CMC, the most visited crypto-related website, was acquired for a hefty $400 mln back in April.

Since the acquisition, it has already stepped up with new tools that are meant to combat fake trading volumes.

After adding the web traffic factor, CMC also plans to implement an advanced algorithm that would help to better detect inflated trading volumes. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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