- CoinMarketCap and Yahoo Finance have joined forces to bring Bitcoin, Ethereum and and Ripple data to millions of the platform users.
- Further CoinMarketCap announced that it will launch new metrics to fight manipulation of data in the crpto market.
In a recent announcement, it was disclosed that CoinMarketCap, one of the most important crypto data platforms, and Yahoo Finance will cooperate to publish data from Bitcoin, Ethereum and Ripple. The cooperation will allow users to view data in real time. An extension to all cryptocurrencies is expected soon.
Data from Bitcoin, Ethereum and Ripple available to millions of users
The cooperation was published through the social network Twitter. There, Yahoo Finance announced that it will work with CoinMarketCap to renew its platform. According to the publication, the data will be shared in real time, along with graphs and data.
BIG @YahooFinance crypto news: we have switched our data partner to @CoinMarketCap! real-time data and charts for all the coins– soon 2,000+ of them. just like our renowned stock charts and data. https://t.co/3vJvwcCjHK
Bookmark our crypto heatmap:https://t.co/0SiMjhQT0i
— Daniel Roberts (@readDanwrite) November 21, 2019
As a result, users of the Yahoo Finance platform will be able to view information directly from CoinMarketCap. In addition, it will make it easier for users to more closely track the performance of their preferred cryptocurrency, what position it is in terms of capitalization and see the price performance of the market.
The data platform, CoinMarketCap, has also made a statement about the alliance and expressed that users will be able to see information about cryptocurrencies that constitute more than 90% (Bitcoin, Ethereum and Ripple) of the crypto market in terms of capitalization. In addition, the allies hope to increase the legitimacy and transparency of the crypto market.
CoinMarketCap introduces new metric: Liquidity
The cryptocurrency data aggregator CoinMarketCap is also trying to fight a number of accusations. Some industry members have argued that the data given by the crypto platform is manipulable and therefore do not reflect the true state of the market.
One of CMC’s detractors has been Bitwise. Bitwise made accusations against the platform earlier this year and accused it of manipulation of data. Since then, CoinMarketCap has made adjustments to its system. During an event in Singapore, sponsored by the data site, named The Capital, it announced what will be the most important changes. Among the main ones is the launch of a new tool that will measure the liquidity of more than 3.000 crypto assets.
The head of strategy at CoinMarketCap said the following about the new metric:
The adaptive methodology will make the liquidity metric very difficult to ‘game’ as orders would need to be placed close to the mid-price, or risk being counter-productive to the Liquidity metric scoring.