CoinMarketCap to provide with data on Liquidity

Posted 12 November, 2019

CoinMarketCap, one of the most popular sites for tracking the activity of cryptocurrencies and crypto exchanges has launched a new metric CoinMarketCap Liquidity tool that means to filter the market manipulation practices of crypto exchanges. CoinMarketCap’s inaugural conference in Singapore on November 12 and the tool is now live on the company’s site. The new metric will reportedly incorporate data from 3000 crypto assets.

“We believe our adaptive methodology will make our metric very difficult to ‘game’ as orders would need to be placed close to the mid-price, or risk being counter-productive to the Liquidity metric scoring.” -  Carylyne Chan, chief strategy officer at CoinMarketCap said.

The Liquidity metric looks at several factors, including order-book depth changes and distance from mid-price. Calculations are made by polling the market pair at random intervals over 24 hours and averaging the result.

“We are introducing a new metric to highlight what matters most to investors and traders: liquidity. With our Liquidity metric, we hope to provide public good to the crypto markets by encouraging the provision of liquidity instead of the inflation of volumes.”

Note that CoinMarketCap in August announced that it was going to launch a new liquidity assessment system. CoinMarketCap has also launched a new page where it will publish interest rate information for several digital currencies to help users choose the right product.

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