OKEx Chief Strategy Officer Alysa Xu is skeptical on CoinMarketCap's (CMC) recent improvement of cryptocurrency exchanges ranking method.
Xy says web traffic is barely a good way of ranking exchanges. OKEx CSO claims high volume doesn't mean that cryptocurrency exchange has more visits and community popularity.
Skeptical - web traffic as a ranking factor. High volume doesn't mean exchange has more visits & popularity.— Alysa Xu (@AlysaXuOKEx) May 15, 2020
The prerequisite of crypto exchange should be security to protect user assets, followed by market liquidity and UI/UX.@CoinMarketCap, @binance is fading your identity. https://t.co/ZoiKQ1dti8
CMC claims this is one of the metrics the service is working on. With new algorithm, which coming May 29, CoinMarketCap will reportedly be able "to determine which exchange volumes are inflated and to what extent, and flag them."
The OKEx CSO's comment comes right after CoinMarketCap updated its method of ranking exchanges by removing adjusted volume factor and integrating web traffic factor in iteration.
As a result of this change the other cryptocurrency exchange Binance, which acquired CMC last month, jumped in the ranking to the first position.
iHodl in April reported that Binance's Chinese domains suffered a "targeted DDoS attack." The exchange CEO Changpeng Zhao suggested on Twitter that the attack on Binance was triggered by "self-perceived competitors."
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