13 Crypto trading platforms only have reliable trading volume

Cryptocurrency market is an emerging market that lacks many terms and regulations, so confidence is a very important factor in attracting more users.

Therefore, many trading platforms try to provide advantages and services and offer their large trading volume to increase the number of users and competition and take their market share.

Recently, the team "Coin Metrics" for the analysis of cryptocurrencies has published a new framework to assess the reliability of the size data of the crypto trading platforms.

According to "Coin Metrics" numbers, the actual volume of digital currency trading is only one tenth that was reported on most trading platforms.

The Trusted Size Framework is a new way to measure volumes across crypto markets more accurately.

Many crypto trading platforms, especially those that offer alternative liquid currencies with little cash, offer fake trading volumes in an attempt to attract more users to the platform.

John Genti, a data analyst at Coin Metrics, said:

"The badly reputation crypto trading platforms seek to provide fake volume numbers in order to increase their rankings
The industry is full of technical information that can be difficult to understand and at times misleading.We are working to create a more transparent environment for those inside and a safer and more reliable source for those hoping to learn more about it."

According to "Coin Metrics" there are only 13 cryptocurrency trading platforms that have “reliable” trading volume, namely:

Binance / American Binance, Bitbank, Bitfinex, bitFlyer, Bitstamp, Bittrex, CEX.IO, Coinbase, Gate.io, Geminu, itBit, Kraken and Poloniex.

It is the top 10 platform without CEX.IO, Gate and Bitbank, which is also included in the Messari Trusted Trading Platform Index that was unveiled last March.

As for the standardization and arrangement of Coin Metrics approved crypto trading platforms, it is based on three main axes:

Size, platform traffic analysis and other qualitative features.

The first criterion measures whether trading platform price feeds are closely related to price feeds provided by legacy and well-organized platforms, namely Bitstamp, Bittrex, Coinbase, Gemini, itBit and Kraken.

Any trading platform with a link of 80% or higher has passed this test.

The second criterion is to measure the volume of visitor traffic and compare it with the notified, and on a logical basis, the trading volume is deduced based on the number of visitors to the platform.

The third criterion for Coin Metrics is determining the features and features offered by the trading platform, as well as their compliance with regulations.

Here are some of the platforms that fail to meet these three criteria, such as the Malta-based OKEx platform.

Meanwhile, the BiBox, ZB.com, LBank and HitBTC platforms failed in two criteria.

The advertised list of Coin Metrics is a relatively new list and will be updated periodically.

Based on the figures provided by "Coin Metrics", the real size of the crypto market over the 24 hours is approximately $ 13.25 billion, compared to approximately $ 113 billion of the volume reported by trading platforms.