A New Analysis Product Is Introduced On CoinMarketCap by Crypto Briefing Called Simetri
CoinMarketCap and Crypto Briefing have united in order to offer a new product for its clients via the Data Accountability and Transparency Alliance (DATA). The two companies are going to join forces in order to launch a new product called Simetri.
Simetri is a new crypto research and analysis tool that was created in order to improve transparency and to verify order book data from several crypto exchanges. This way, the companies could gather more in-depth data about these exchanges and give some more complex and wealthy insights for its clients.
According to the official announcement, Simetri will be fully integrated into CMC after its development is complete. The program will assess the most important elements of all cryptos such as how healthy their ecosystem is, their utility and several other factors as well.
The global head of the marketing at CMC, Carylyne Chan, affirmed that Simetri will be a very important part of the DATA initiative.
She hopes that it can be used to lead to a whole new age of standardization of crypto data, meaning that the market would have more trusted data since data is an important cornerstone of more traditional markets and the company wants the same to happen in the crypto one.
DATA And Simetri To Improve Crypto Transparency And CMC’s
CMC is so engaged in cleaning up its data and providing something more accurate after the exchange was heavily criticized during the beginning of the year. The famous Bitwise report affirmed that most of the Bitcoin trading volume is actually fake, which caused quite a stir in the crypto market.
In order to avoid being caught in the mess of the exchanges, CMC’s answer was to create the DATA initiative and to ramp up the level of transparency and trust on the platform.
The crypto exchanges were also coerced to comply with the initiative or they would end up being delisted if they did not agree with providing a relevant set of data that could be accurate on their real volumes.
So far, over 70% of the platforms have complied with the request to provide more data. The ones that did not do it will end up losing space in the market and will be negatively affected on their ratings in the site.