CoinMarketCap excludes Bitfinex Bitcoin pricing from price average

06 May, 2019
by Ryan Boltman
News
CoinMarketCap excludes Bitfinex Bitcoin pricing from price average

Following the recent news surrounding Tether and cryptocurrency exchange Bitfinex, which saw the BTC premium rise to over $6,000 last week. CoinMarketCap have decided to exclude the exchanges BTC price from the BTC average. 

The leading cryptocurrency market data provider has recently excluded the Bitfinex price from the BTC global average. This comes after the news surrounding Tether not being back by 1:1 USD. Bitfinex, who backs Tether, saw a massive price premium on the BTC pair, with BTC trading well over $300 in price. The premium shifted the overall average of BTC upwards. 

CoinMarketCap have since decided to exclude the price of Bitfinex from the global average price between all exchanges. 

However, there are still several exchanges that are included who feature BTC prices higher than Bitfinex. 

Bitfinex has most recently begun accepting pre-orders for the upcoming Initial Exchange Offering of their native token LEO. The IEO looks set to raise $1 billion, which will go toward covering the $850 million that has gone missing from the exchange. 

Bitfinex is set to remain under watchful eye as the New York State Attorney General (NYAG) looks to further investigate the relationship between Tether and Bitfinex. 

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