Exchanges, Featured

CryptoCompare Reveals Crypto Exchange Gemini To Be Most Trusted

CryptoCompare is a cryptocurrency data & indices provider who has launched the first Cryptocurrency Exchange Benchmark where a crypto exchange called Gemini is revealed to be the most trusted. Coinbase, Poloniex, Bitstamp, bitFlyer, Liquid, itBit, Kraken, Binance, Bithumb along with Gemini are also revealed to be the most trusted.

Geography; legal/regulatory; investment; team/company; data provision; trade surveillance; and market quality are the ranking components. More than 100 active spot exchanges are ranked at the global level.

Industry demand for reliable metrics for the evaluation of various cryptoasset exchanges at the global level made CryptoCompare launch an inaugural Exchange Benchmark product. Correlation-of-volume-to-volatility and standard-deviation-of-volume are used as inputs for 30+ metrics. Volume manipulation, wash trading, and trading incentives are said to be the existing issues.

Most cryptoasset exchanges are found to use incentivized trading schemes for the increase of volumes. Needs for a ranking methodology which doesn’t depend upon aggregate volumes are demonstrated. An analysis is a public information-based analysis. It is also an exchange data-based analysis for the 1st-31st May 2019 period.
A comprehensive, granular and reliable source of information is offered to investors and traders. Bringing greater transparency to the crypto market is a commitment of CryptoCompare.

The Co-Founder and the Chief Executive Officer (CEO) at CryptoCompare Charles Hayter said, “In response to industry concerns over inflated volumes and the lack of reliable metrics for assessing cryptocurrency exchanges, we are excited to launch the CryptoCompare Exchange Benchmark. We look forward to bringing greater transparency to the digital asset class and improving decision-making for market participants by providing a dataset they can trust,”, Institutional Asset Manager reported.

The crypto exchange Gemini Trust Company, LLC (Gemini) is recognized as a next-generation digital asset exchange and custodian. It is headquartered in New York, NY. It was set up in 2015. Cameron and Tyler Winklevoss are the founders of Gemini. Building a bridge to the future of money is a purpose behind Gemini. Customers can buy, sell, and store cryptocurrency, according to the official LinkedIn account of Gemini.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Shabnam Dhar is a Copy Editor for OWLT Market.

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