The leading market analytical service CoinMarketCap has reportedly unveiled the results of Phase 1 of the Data Accountability and Transparency Alliance which is aimed at collection and providing fair and accurate crypto trading data.
"The DATA seeks to promote greater transparency, accountability, and disclosure from projects in the crypto space. This initiative is underpinned by our belief that the provision of additional data points would (i) empower our users to make more informed decisions and (ii) provide a means for projects to differentiate themselves through enhanced disclosures," as explained on the website.
The company reported that it received positive feedback from more than 70% of all companies indicated on the website, which agreed to join the alliance. They provided CoinMarketCapw ith trading, market orders information in real-time via the API tool.
At the same time, the remaining companies that failed to comply with the requirements will be shown at the end of the general list of the companies.
Moreover, the service also intends to expand the listing requirements. According to the available information, new metrics will be added with assessments of trading volumes, popularity, team, product relevance.
As commented CoinMarketCap representative, they will launch a separate category of untracked listing for the companies that fail to comply with the requirements.
For now, the company is getting ready to get round the table with the allies. The meeting is slated for mid-July.