Odaily Frontline | CMC updates the ranking of derivatives exchanges, BitMEX "returns" to the top three

Azuma

Odaily资深作者

@azuma_eth

2020-06-30 17:13 (UTC+8)

This article is about 1021 words, reading the full article takes about 2 minutes

In the exchange rankings earlier this month, BitMEX ranked 175th with a liquidity score of 0.

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In the exchange rankings earlier this month, BitMEX ranked 175th with a liquidity score of 0.

Some information in this article is quoted from:Ethereum World NewsOdaily Translator |

Odaily Translator |

Binance’s well-known cryptocurrency market aggregation site CoinMarketCap (CMC) has been updatedDerivatives Trading Market Ranking, click "Exchanges" on the homepage of CoinMarketCap's official website to enter the separate ranking pages for the spot market and the derivatives market.

The top ten cryptocurrency derivatives trading platforms in the latest ranking are: Huobi, Binance, BitMEX, OKEx, Bybit, FTX, Phemex, ZBG, BTSE, Deribit. It is worth mentioning that the spot trading market ranks based on multiple factors such as network traffic, trading volume, and liquidity, but the derivatives trading market ranks based on only one factor—trading volume.

Earlier this month, CoinMarketCap made a major update to its exchange rankings, and the mainstream derivatives exchange BitMEX slipped to 175th in that ranking. For comparison, BitFlyer is ranked seventh in CoinMarketCap’s latest rankings. The data shows that BitMEX's liquidity score is zero, and BitFlyer's liquidity score is 131, but BitMEX's 24-hour trading volume is about 40 times that of bitFlyer. In addition to BitMEX, the rankings of two other mainstream derivatives exchanges, Deribit and Bybit, also fell to more than 170.

In response to this incident, the CoinMarketCap official responded at the time: "In the recently launched exchange ranking algorithm, the ranking of derivatives exchanges is not reasonable, which is a bit confusing. We would like to take this opportunity to clarify. As we stated in the announcement Having said that, the latest rankings apply to both spot market pairs and exchanges. In the near future, there will be a separate page for derivatives exchanges.”

Some voices have questioned that the reason why CoinMarketCap ranks exchanges such as BitMEX so low is the shadow of its new owner, Binance.

Binance founder Zhao Changpeng said in an interview with U.Today: "Before the acquisition of CoinMarketCap, Binance was already the largest exchange. We really don't need special help from CoinMarketCap. Therefore, both Binance and CoinMarketCap will Continue to be relatively independent. I believe they can all compete independently and become the best platform in their field. So I think we just want to help the product to be better and give more money to help the product grow."

After nearly 20 days, CoinMarketCap’s launch of an independent ranking page for the derivatives trading market is not slow. From the perspective of specific rankings, the data generally conforms to the vague impressions of users. However, the number of exchanges counted is still relatively small. Currently, there are only 14 exchanges on the ranking list, which is still significantly different from the 300-plus counting objects in the spot trading market.