BitRss.com latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

CoinMarketCap updates exchange ranking system to include Web traffic, Binance now ranks first

CoinMarketCap updates exchange ranking system to include Web traffic, Binance now ranks first
Crypto data aggregation site CoinMarketCap has unveiled a new change how it ranks exchanges, and now includes a metric of Web traffic as part of that calculation.
The change went live on Thursday after CMC announced the move in a May 13 blog post . "In most cases, with crypto being a retail-driven market, for an exchange to have high volumes, it needs to have a large number of retail traders (i.e. buyers and sellers). Instead of asking exchanges to submit their user numbers, a good intermediate proxy will be web traffic," the site's team wrote, adding:

"As such, we have designed the Web Traffic Factor in this iteration. It takes into account an extensive range of data points, including pageviews, unique visitor count, bounce rate, time-on-site, relative ranking and keyword searches on major search engines."

According to the exchange rankings page , Binance – which announced its acquisition  of CoinMarketCap early  last month – now ranks in first place. 
CoinMarketCap said in its blog post that the metric as it currently exists does not "provide the full picture" and that "[t]his metric is, as shared above, an intermediate step in this iterative process." And Binance CEO Changpeng Zhao said of the new ranking approach on Twitter : "This ranking is currently heavily biased towards web traffic, not 100% accurate, but better than before. Will continue to iterate."
In the blog post, CoinMarketCap said that it plans to keep working on changes to its exchange scoring framework. In a FAQ section about a unified scoring metric, the site said: "That is the plan, to simplify our metrics for new users who want to get the information at a glance."
"We are working on the UX/UI designs to make it easier to filter and sort for the attributes that you care about — it will be rolled out throughout this iterative process," the post explained.
As The Block's Larry Cermak noted in his April by-the-numbers  report, data from SimilarWeb indicates that Binance drew in an estimated 23.2 million visitors that month. This figure accounts for approximately 23 percent of the total share of Web traffic to surveyed exchanges. 

In the blog post, CoinMarketCap also detailed an update to its liquidity scoring system as well as a unified page for exchange rankings. 
"This is part of our ongoing effort to make our information more user-friendly and easy-to-navigate," the site said of the unified page. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK
WhatsApp
Telegram

Search Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

24h Most Popular News

Please consider to Support BitRss.com!