Messari's 'Real 10' crypto exchange list will counter fake trade volumes

26 Mar, 2019
by David Robb
Messari's 'Real 10' crypto exchange list will counter fake trade volumes

Data and research agency Messari has announced some new metrics that it will be using to more accurately analyze the crypto space. The main introduction is 'Real 10 Volumes', which refers to a list of trustworthy exchanges.

Recent reports released by crypto research firms showed the extent of faked trading volume in the market. Using general estimates about page visits and how many people would be expected to trade on a particular platform, The TIE found that around 87 percent of volume reported by exchanges is likely false. In the same week, Bitwise released a report claiming that only 10 exchanges actually had any notable trade volume.

Read more: Bitwise report makes claim: "Only 10 exchanges have actual volume"Is 87 percent of crypto trading volume fake?

In response to this, Messari is changing the way its OnChainFX dashboard operates. It will be using a 'Real 10 Volumes' metric, which displays data from only the 10 crypto exchanges believed to be reporting genuine figures. These exchanges are: Binance, Bitfinex, Bitflyer, Bitstamp, Bittrex, Coinbase Pro, Gemini, itBit, Kraken, and Poloniex.

This shouldn't lead to a huge difference in analyses of the crypto market, as Messari claims that its "price methodology already accounted for apparent volume discrepancies between these exchanges and other components, but we're now limiting our default volume calculations".

In another change to its methodology, Messari will be introducing the 'Liquid Market Cap' metric: "This is the product of our volume-weighted prices, as well as our team’s “Liquid Supply” estimates. We feel this more accurately reflects the outstanding network value of top cryptoassets. We now have complete supply curve information for the top 50 assets by Liquid Cap, as well as Messari token registry participants".

Read more: The true value of XRP's market cap

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