What is our ranking methodology?
TL;DR: We rank all coins based on market cap, if they meet a minimum trading volume and pass our filters that prevent ranking manipulation. For price calculation we use volume-weighted averages, using data coming from hundreds of exchanges.
The list of all coins is ranked on market cap and is divided into three different tiers:
- Tier 1* - Coins that have at least 2 BTC trading volume and a confirmed supply.
- Tier 2 - Coins that fall below the 2 BTC trading volume threshold.
- Tier 3 - Coins that have an unconfirmed supply (these supplies are not yet validated by us and could possibly be incorrect).
Every 60 seconds we calculate a volume-weighted average price (VWAP) of every coin.
Filters preventing manipulation
To avoid short-term manipulation of a coin’s ranking, we’ve put the following filters in place.
- Coins need to have a trading volume of 2 BTC during a 24 hour period.
- A price ticker gets ignored when the last price is 50x higher than the previous one.
- We need to ‘confirm’ the circulating supply
- (De)centralized exchanges for price determination
- Block explorers for supply determination
- Community input, like coin descriptions, icons, websites, socials, etc.
There have been multiple reports of wash trading on cryptocurrency exchanges. The report from the Blockchain Transparency Institute is one of these.
We are dedicated to bringing more transparency into the cryptocurrency market. That's why we are looking for ways to filter out wash trading behavior.
If our community reports verifiable instances of wash trading on specific markets, then we will take appropriate measures against the trading markets in question.