Exchanges have to be transparent, if they want to be on CoinMarketCap (CMC)
- Delphia
- May 1, 2019
- 1 min read
CoinMarketCap, the Most famous Crypto market cap tracker on its 6th birthday anniversary announced that it will remove exchange from its calculations if exchange fails to provide mandatory data (live trade and order book data) by 14th June.
CoinMarketCap has announced an alliance called the Data Accountability & Transparency Alliance (DATA) to provide “greater transparency, accountability, and disclosure from projects in the crypto space.” 12 exchanges have already joined the Alliance to lead the data transparency cause: Binance, Bittrex, OKEx, Huobi, Liquid, UpBit, IDEX, OceanEX, Gate. io, KuCoin, HitBTC, Bitfinex, and with many more DATA partners to follow.
For this transparency initiative, CMC will also require all the crypto exchanges to provide mandatory API data which includes their live trading data and live order book data. This will be mandatory, CMC in its blog announced that if any exchange does not provide this mandatory data will not be included in the price and adjusted volume calculations on its website.
All the exchanges have a 45 days period to send the required data, while changes will come into effect on June 14, 2019 according to CoinMarketCap.
