CoinMarketCap Now Ranks Crypto Exchanges by Web Traffic

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Thu, 05/14/2020 - 19:03
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Alex Dovbnya
CoinMarketCap, the most visited crypto website, now takes into account website traffic to rank cryptocurrency exchanges
CoinMarketCap Now Ranks Crypto Exchanges by Web Traffic
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. 

CMC
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. 

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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.

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
Cover image via stock.adobe.com
Contents

While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)