CoinMarketCap Initially Rejected the Metric That Now Puts Binance at No.1
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Crypto markets data aggregator CoinMarketCap yesterday changed its methodology to rank exchanges on their web traffic by default — a metric that puts CoinMarketCap’s new owners Binance in the top spot.
But this stands in stark contrast to the words of CoinMarketCap’s Chief Strategy Officer and acting CEO Carylyne Chan, who said in a podcast interview late last year that web traffic was “not a good indicator.”
Introduced just six weeks after Binance bought CoinMarketCap for hundreds of millions of dollars, the new ranking methodology prioritizes web traffic over CMC’s painstakingly developed “liquidity metric,” which was only introduced in November and was due to become the default ranking.
When ranked by average liquidity, Binance lands in fourth place, following Bitfinex, Coinbase Pro, and Huobi Global respectively.
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