Last month, CoinMarketCap suffered a lot of criticism for using the traffic system to evaluate the exchanges, thereby bringing Binance to the top with an almost absolute score. The famous analyst Mati Greenspan at the time also had satirical comments that:
Carylyne Chan, current CEO of CoinMarketCap, said the new method will help the platform "bring more realistic feedback to users. With machine learning algorithms, the system will adjust itself to improve the accuracy of the data over time."
This new method, including quantitative assessments, has been tested and can be integrated into the system later.
Although CoinMarketCap previously used a revised weighting factor (the index removed some suspicious and subjective data), the platform was later replaced by a method of considering the level of traffic that according to CMC. "First stage to improve the quality of evaluation".
As Coin68 reported, this rating immediately put Binance from the top 15 to the top spot with an aggregate score of 1,000 (the highest on the scale).
>> See also: CoinMarketCap changes the ranking mechanism, Binance one step to the top 1
Despite allegations of partial ownership of Binance, CEO Chan said to CoinDesk:
“Web Traffic is one of many factors that gives the final ranking. This position is the latest result announced by CoinMarketCap, when the new Web Traffic Index is the first step in the entire process of finding a suitable solution. ”
However, at present, the ranking results have not changed much after adjustments from CMC. With the new algorithm, Binance is still leading in the rankings.
In terms of the largest trading markets (including Bitcoin, Ether, Tether and Litecoin) - the aspect that makes up 80% of the rating - Binance is still the first name to appear on the list.
Notably, besides volume and liquidity, with respectable traffic, CoinMarketCap also assesses the reliability of data of Binance (with Coinbase and Kraken exchanges) as 100%.
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