New Crypto Exchange Ranks (CER) Report Updates Latest Bitcoin Trading Platform’s Ratings
There Are New Report Updates On The Crypto Exchange Ratings
The report on the quarterly ratings has recently upgraded the score that was given to about seven crypto exchanges and having four downgraded. At the same time, it has been able to add seven new exchanges, which has rated them on the same metrics as the trading volumes, compliance and security.
The CER, Crypto Exchange Ranks, has started tracking the cold and hot wallets as part of the mission in championing better transparency within the industry.
Bithumb Has Been Upgraded And Okex Downgraded
The ratings for crypto exchanges together with the cryptocurrencies have been considered to be highly subjective. It is because any type of ranking or even rating is bound to bring a lot of controversy around the matter. However, the quarter rating report is still growing in popularity as it continues to shine the spotlight on the different verticals that are within the crypto ecosystem.
With the latest report presented by Tokeninsight, it has been able to track the progress of various crypto exchanges in the past three months despite the difficult conditions that are witnessed in the market.
There have been unique investors who have dropped across the board in just the last quarter, but all having an exception to the Bithumb as its aggregated score together with traffic has risen. But when we compare with the Okex, it has seen its weight score drastically fall, which seem to worsen when it unilaterally changed the trading rules in the rating period. They made changes on the contract delivery rules together with the modification of the data rollbacks.
But there was some upgrade witnessed by the ratings done by Tokeninsight this is the Kraken, Hitbtc and the Kucoin. At the same time, the Gemini and the Poloniex are also among the ratings that have been able to be given ratings for the very first time.
The Trans-Fee Mining Exchange Has Scored Poorly
The transaction fee mining exchanges that are mostly linked to the wash trading and the fake volume have also gone ahead to score very poorly in the Tokeninsight report. One of the casualties to this is the Fcoin exchange for Hong Kong, were its score greatly lowered.
The report went ahead to note that some of the transaction exchanges that had brought large amounts of traffic within the platform, was majorly due to the notion that the transactions for fees and dividends were made free, and from this, the transaction volume reported in a month has greatly dropped.
When looking at the compliance Fcoin is lagging behind, when we look at the development, plus, they have not been able to obtain the needed license, which is for the relevant regulatory agencies in the market.
One of the avenues that has proved to be instrumental is the exchange analytics services of the Crypto Exchange Ranks, as it has been able to successfully uncover the fake volumes that are present in the Asian platform. It is platforms like Coinbit, Fcoin, and the GDAC. The latest initiative that the company has been involved with is the launch of the crowdsourced framework that will be used in the crypto exchange transparency.
The CER platform has gone ahead to seek the help of the various transparency hackers. They have approached them in helping them identify and also track the cold and hot wallets of all the leading crypto exchanges in the market.
The CER dashboard has already been populated with the current wallet balances of the different major exchanges within the market. The platform has been designed in a very unique manner, as the results are easily filtered to much the size of the exchange wallet, and once you click on the wallet balance it will be able to reveal the distribution that exists between the cold and hot wallets.
The CER will not just stop here, as they hope to add the same information for all the exchanges within the market, and with this, it should be able to bring about great transparency within the sector.