CoinMarketCap Introduces Another Algorithm Update, Binance Remains in Top Spot

Publicado en by Cointele | Publicado en

Top crypto data aggregator CoinMarketCap has introduced yet another algorithm update following its acquisition deal with Binance, according to a CMC blog post published yesterday.

The data provider, which was purchased for an unspecified sum by Binance in early April, has started adjusting its ranking system soon after the deal took place.

As a result, Binance has come on top of its exchange ranking, drawing criticism from the community and other trading platforms.

Latest update brings more metrics to exchange rankings.

In its latest update, CMC implemented a new algorithm "To replace the previous default ranking of exchanges by Web Traffic Factor" introduced earlier on May 14.

The new algorithm has shifted from tracking web traffic to a more complex method that involves market rankings and the so-called "Confidence score".

Specifically, the market pair ranking considers the Liquidity Score, Web Traffic Factor and volume of each pairing.

The latest update supposedly concludes the "First phase of changes to the exchange ranking" on CMC. "Our users can expect this new ranking to be the staple for the next few months," the blog post reads.

Binance remains #1. Binance continues to hold the first place with a 1,000 Web Traffic Factor score after the latest change took place.

"No, this new update has been in the works all along. As we mention in our blog post on the updates to our ranking algorithm, we are adopting an iterative approach to changes, and the Web Traffic Factor ranking was just one of those steps."

x