CoinMarketCap recently announced the formation of an alliance with Exchanges to deter unethical practices at Exchanges like market manipulation, wash and ‘fake volume’ on Exchanges
The alliance, Data Accountability and Transparency Alliance,after the reports of ‘fake volume’ on Exchanges were published independently by two Research Institutions. The alliance requires the partner exchanges to send standard API data. The API data includes all the trade orders on the Exchange to include transparency and ensure that there is no ‘wash .
We are honored to be invited by CoinMarketCap of being one of the Data Accountability & Transparency Alliance. And IDAX is ready to contribute its share to construct a more transparent world with so many industry partners.
The alliance kick-started with twelve Exchanges. IDAX Exchange is one of the most recent additions to the alliance.
Found in 2017, IDAX provides a variety of crypto-related financial products that include margin and a peer-to-peer OTC portal. In the last 24 hours, the Exchange has a volume of about $805 million, according to CoinMarketCap. Furthermore, IDAX also has an Exchange , IT, which is used to reward its user and also launch new projects.
The alliance currently has only 22 Exchange members as partners. CoinMarketCap is the most visited site in the space which has recently increased its efforts to increase the accountability of the data on their site. Furthermore, the inclusion of top exchanges and their resolution towards transparency establishes DATA as a benchmark standard to provide proof of authenticity.
Published at Thu, 16 May 2019 01:02:22 +0000
