CoinGecko combats fake volume, launches Trust Score

CoinGecko is now launching something called “Trust Score” that will help users to identify cryptocurrency exchagnes with fake exchange volume. CoinGecko will not be sorting exchanges by reported volume but by their web traffic and orderbook data.

coingecko

What does this means for users? Users will now be able to identify exchanges with more accurate trade volume and this will paint a better picture than its rival, Coinmarketcap.

Trust Score takes into account reported trading volume, web traffic, and order book depth. Traffic data will be taken from 3rd party web traffic measurement service, SimilarWeb which in turn takes data from multiple sources which will make it very hard for an exchange to fake its volume.

So, the next time you see a lot of volume on an exchange, fire up Coingecko and check its “Trust Score”. If it is high enough, then its fine.

By the way, here are top five cryptocurrency exchanges with fake volume baked in – ZBG, OKEx, Dobitrade, ZB and FCoin.

Here are top 5 with normalized trading volume – Binance, Coinbase Pro, Bitfinex, HitBTC and Kraken. Want to see how everything is calculated? Head over to this article at coingecko.

  paxful

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