BTC Wires

Coinmarketcap and Crypto Briefing Launch Product For Ensuring Greater Transparency Among Crypto Exchanges

Crypto Briefing, a digital currency review platform, is reportedly pairing up with crypto stat aggregator Coinmarketcap’s Data Accountability and Transparency Alliance (DATA) to launch a new product called Simetri. Simetri will serve as a crypto research and analysis product and the update was reported by crypto news media outlet Cointelegraph, who the company shared a press release with on the 9th of July.

Simetri will be an institutional grade tool that is created in such a way so as to facilitate completely transparency and promote the easy verifiability of order book data from major cryptocurrency exchanges in the market.

This will also help provide detailed fundamental analysis and insights into upcoming crypto projects, ideally with a great deal of objectivity and neutrality. Simetri will be integrated into the crypto profiles that are a part of the Coinmarketcap website.

Simetri is specifically designed to evaluate the basic elements of any crypto project, like it’s tech ecosystem, development, utility, support and other aspects that are responsible for the creation of a sustainable and robust project for backers and investors.

As Carylene Chan, the Global Head of Marketing at Coinmarketcap commented;

“The combination of SIMETRI and CoinMarketCap’s DATA initiative represents a positive trajectory for the standardization of crypto data. Data standardization is a key factor in ensuring we can have greater visibility into data on an ongoing basis. Trusted data sources are a cornerstone of traditional financial markets – and as cryptocurrency matures, it needs and deserves these sources.”

Earlier this year, in the month of May, Coinmarketcap had called upon crypto exchanges to be more forthcoming and sincere in the accurate dissemination of data.

It had also threatened to delist exchanges if they did not give accurate details about trading, volume etc. Clearly, this new tool takes that commitment further in terms of ensuring better transparency among crypto exchanges.