Nomics.com, the cryptocurrency data firm, launched new indicators claiming transparency in market cap and volume. The new indicators are now available on the nomics.com homepage.
Users can scan transparent global metrics with them. Other data, like detailed info about each crypto asset, is also available. Nomics.com is the first crypto data aggregator to provide such services and data for users.
Nomics.com uses a rating system to list the global cryptocurrency exchanges considering transparency. They rate the exchanges with A-, A, and A+ scores. The transparent market cap is an aggregated market cap from all those exchanges. The transparent volume also follows these rules, and only the data from A-, A, and A+ rated exchanges are considered in that. Nomics claims that total volume often dwarfs transparent volume exceeding it by a factor of ten.
“For both transparent market cap and transparent volume, hourly snapshots are available by hovering over the charts,” according to Nomics. Other features include changing the price and volume data timeframe and pairing cryptocurrencies with each other or fiat currencies.
The cryptocurrency data firm commits to transparency in action. They started their commitment by providing transparent volume indicators for cryptocurrencies. The transparent percentage of trading volume for each cryptocurrency is accessible in detailed info about each one.
One of the necessary actions from Nomic.com is scoring cryptocurrency exchanges according to their willingness to provide auditable trade history. They claim that not so many exchanges provide trusted historical trading data, and finding transparent ones is always a challenge. Nomics has ever tried to fight these kinds of behaviors from exchanges and activities like price manipulation or wash trading.
“Most exchanges give low quality, non-historical data,” explains Nomics CEO Clay Collins. “This is the easiest data to manipulate. It enables wash trading, ticker stuffing – all those toxic behaviors we’ve been fighting with our Transparency Ratings. We’re proud to put transparency front and center on our site.”
The exchange rating on the Nomics platform has raised some critics before. Not many exchanges received an A+ rating from Nomics, and famous ones like Binance, Kraken, and Bitfinex get A or A- rating. OKEx and Huobi Global, two of the biggest exchanges considering volume, received C score in Nomics rating.