摘要：在重新评估其排名机制后，堪称流动性最强的衍生品交易所BitMEX已经下滑至CoinMarketCap交易所排名的第175位。最新排名显示，CoinMarketCap母公司币安目前排名第一，CoinbasePro排名第二，BitMEX排名第三。...
Forex Eye App: Accused of losing objectivity
The impact of Binance's acquisition of CoinMarketCap is increasingly evident.
After reassessing its ranking mechanism, the derivative exchange BitMEX, known for its strongest liquidity, has plummeted to 175th place on the CoinMarketCap exchange ranking.
For comparison, BitFlyer ranks seventh in the latest CoinMarketCap ranking.
Data shows that BitMEX has a liquidity score of zero, while BitFlyer has a liquidity score of 131. It's worth noting that BitMEX's 24-hour trading volume is 40 times that of BitFlyer.
But it's not just BitMEX with a liquidity score of zero. Two other major derivative exchanges, Deribit and Bybit, also have zero liquidity scores, causing their rankings to drop to the 170s.
It's worth noting that in the past 24 hours, BitMEX, Deribit, and Bybit have facilitated over $3 billion in trading volume.
Binance still holds the top spot. This is not new, and its futures trading is quickly catching up with exchanges like BitMEX.
However, BitMEX's ranking dropping to 175th is indeed unacceptable. An exchange with over $20 billion in trading volume in 24 hours has zero liquidity? This sounds absurd.
However, as a competitor to Binance, Coinbase is stably in the top five. Therefore, the unexpected situation in this ranking may be attributed to the flaws in CoinMarketCap's machine learning algorithm, rather than intentional.
Community dissatisfaction, competitors growing stronger
On April 2, Binance announced the acquisition of the cryptocurrency market data website CoinMarketCap (CMC). After the acquisition, CoinMarketCap will continue to operate as an independent entity. With the professional support, resources, and business scale of Binance, CoinMarketCap can continue to provide industry-leading cryptocurrency market data.
On the morning of April 3, Binance founder Zhao Changpeng responded to questions about the acquisition of the cryptocurrency market data website CoinMarketCap in an AMA. Zhao Changpeng said that CoinMarketCap is one of the most valuable platforms in the industry with a large number of users. The acquisition is not to divert all its traffic to Binance, but to grow its own ecosystem. The hope is that in the future, CoinMarketCap will have 10 times or even 100 times growth, making it easier for more people to access valuable data. We cannot sacrifice one company to benefit another, that would be a mistake. Binance has proven its competitiveness and does not need to take value away from CoinMarketCap. Both companies will continue to operate independently without giving each other any unfair privileges.
On May 15, CoinMarketCap updated its exchange ranking and added a new network traffic indicator to the new ranking calculation, which considers multiple data factors, including page views, unique visitors, bounce rate, service time, relative rankings, and keyword searches on major search engines. The latest ranking shows that Binance, the parent company of CoinMarketCap, currently ranks first, Coinbase Pro ranks second, and BitMEX ranks third. This situation has sparked discussions among netizens from China and abroad, raising questions about the independence of CoinMarketCap's data.
On May 29, CoinMarketCap introduced a new "Confidence" indicator, which ranks exchanges and market pairs based on factors designed to reduce the impact of false trading volume on platform data. The indicator uses machine learning algorithms to check all data consumed by CMC, "to determine whether the reported trading volume from exchanges is exaggerated, and to what extent."
Prior to this, after facing criticism from the community, CoinMarketCap has been forced to adjust its ranking mechanism. Now, top derivative exchanges have been dropped to the bottom of the rankings, intensifying the criticism.
The crypto community is beginning to support the claim that CoinMarketCap has lost its integrity since being acquired by Binance.
Despite these doubts, CoinMarketCap still holds the majority of web traffic, with over 30 million visits in May 2020.
However, alternative products to CoinMarketCap, such as CoinGecko, CryptoCompare, and Nomics, have also shown strong growth in the past few months, indicating that some users are gradually shifting from CoinMarketCap to other platforms.
If this trend continues, CoinMarketCap's market share may decline. Dependence on traffic for advertising revenue could be a bad outcome for it.
