CoinMarketCap stands for data transparency and clarity

At CoinMarketCap, we believe in transparency and openness in our data. All the information that you see on our site is aggregated from hundreds of exchanges based on the APIs that they provide us. When we list exchanges, we do our best to verify with exchanges that the APIs they provide us will pipe through the freshest and most accurate data possible.

Volume concerns

In recent weeks, we have heard increasing concern around exchange volumes and rankings. There are three main concerns that have been brought to our attention, that have been skewing the perception of the data on the site, namely:

1. Fee-free/Transaction mining models

Transaction mining is a new model adopted by exchanges to rebate users with their own exchange coin when transactions are made. Essentially, coins are “mined” in the process of transacting, and all exchange fees are then refunded to the user. With a model like this, users are incentivized to trade back and forth in order to mine more coins, oftentimes with bots.

2. Low fee models

Some exchanges charge extremely low fees in order to encourage more trading activity. Often, these fees fluctuate, are tiered differently by account type (such as market makers or bots) and transaction volume, and are not obvious to the user or to us at CoinMarketCap.

3. Artificial volumes/wash trading

In order to ensure that their listings remain active on certain exchanges, sometimes projects are instructed to maintain a minimum level of volume. This causes projects to heavily employ market making services and bots to trade their own coin to inflate their volumes.

As you can imagine, the complexity of dealing with these evolving models is multi-faceted and deep. While we have a relationship with most of the exchanges listed on our site, there is no guarantee that any of them will respond or comply to any specific guidelines, but we have to continue showing users the best approximation of price and volume based on all the data we have available.

The evolution of new models such as transaction mining also means that there needs to be new ways to account for volume. Compounding it is the fact that they are, in fact, enabling greater liquidity in the way that users are trading more readily on the platforms.

Data transparency is top priority

Even though we try our best to verify the data with the exchanges on our site, we are not in the practice of censoring or policing others. In an open ecosystem like the one we are in, we believe that the best policy – that we follow closely – is to over-provide on data and let users make their own informed choices about what to do with that data.

However, we understand that these concerns are valid and have implications on the community and the impressions that people have about exchanges, even more than we are traditionally used to.

Previously, we had volume requirements for exchanges in order to filter for more popular exchanges that could be listed on CoinMarketCap. It was a necessary but not sufficient requirement, since we receive hundreds to thousands of requests a day to list new exchanges and coins. This was not meant, in any way, for us to introduce censorship, but rather for us to use a simple and easy-to-understand criteria for exchanges to figure out what they need to be on CoinMarketCap.

Due to the recent changes in the exchange landscape, and the concerns aired by our community, we have removed the volume requirement for exchanges. This went into effect on Monday this week.

The removal of the limit is partly to combat the impression that volume is the only requirement that is necessary for listing on CoinMarketCap. In fact, our team spends time researching new coins and exchanges to ensure that they are real projects, backed by real teams, and are not fraudulent, before putting them on CoinMarketCap. We are extremely conscientious about giving all exchanges and coins/tokens accurate representation on CoinMarketCap.

New features to clarify exchange info for users

Going a step further, we will be progressively updating our exchange rankings to be even more in line with our view that users should be given the power to experience and use the data in a way that fits their needs most.

CoinMarketCap will ensure that there are more levers and toggles that users can use to filter for the exchanges most relevant to them, such as those that they have accounts with, and look only for specific exchanges with attributes that are of interest, such as exchanges supporting transaction mining.

In this way, by introducing different ways to look at exchanges and their respective features, the ranking system will be able to take into account various expectations that users have and help them view and digest exchange information better.

Additionally, we will also introduce new metrics, such as 7-day and 30-day volume, and the establishment date of each exchange, so that users can use those as a way to evaluate for themselves the consistency of the volume on the exchange.

As you can probably guess from the challenges we have alluded to above, it is an extremely demanding problem that requires all our stakeholders in the cryptocurrency community to solve. We hope that as we all move towards expecting higher transparency from exchanges and projects, they will be able to join us in raising the standards for data veracity.

Again, we want to state that our philosophy is to provide as much information as possible to our users, so that they can form their own conclusions and interpretations – and not introduce our own bias into that mix.

We are open to your feedback as we collectively figure out best practices in identifying and rooting out issues with data. As always, we welcome you to make any suggestions or requests on our form. Our team reads each and every request, and will attend to them ASAP – Sometimes, it just takes a while because we get so many requests in a day!

Thank you for being fans and users of CoinMarketCap, and we look forward to having a constructive and productive conversation with you.


420 comments on “CoinMarketCap stands for data transparency and clarity”
  1. This is probably controversial but eventually it would be great if the front page weeded out obvious scams and dead projects.

    1. CarylyneCMC says:

      Hey Brian, yes we believe that most of these projects will be weeded out eventually as the quality increases over time. Generally, we automatically remove projects when their trade volume goes to 0.

  2. Soumaila Minoungou says:

    Hello thank you . My question is why many coins who declared like scam coins scam projet still stand in CMC the site web don’t exist more no support nothing but the coins is still in CMC maybe you must check every 6 month all listen coins and exchange and clean those who scam out thanks

    1. CarylyneCMC says:

      Thank you Soumaila, in general projects which go to 0 trading volume will be removed automatically.

  3. Semih says:


    I’m a Infinity-Economics-Investor and I respent the turkish IE-Community. For month our community has been waiting for our right circulating supply. I was informed that CMC needed some documents. Can you tell me which documents are still needed?

    Thanks and best regards

    1. CarylyneCMC says:

      Hi Semih, great to hear from you! Yes, we will need to have the list of addresses that your team controls, locked up tokens, private investor accounts, etc. If you haven’t yet submitted the list, please do so, so that the team can help you to determine the right circulating supply.

      1. Semih says:

        Hi Carylyne,

        thank you for answering.

        Which list of which addresses that our team controls did you mean?
        And what dou you mean with “locked up tokens, private investor accounts, etc.”?

        Please can you give me an example?


      2. Crypto Jay says:

        Great article, I think this a fantastic overview of the potential threats and signs to look for when dealing with these type of situations. It’s a good move for CMC to make profress towards a more transparent medium. Have you guys looked into the Crypto Exchange Ranks by Hacken? Wouldn’t it be easier to just implement that platform on CMC and run their 24/7 analytics or will CMC develop their own tools? Eaither way, good article!

  4. sunil says:

    Hello all I love coinmarketcap
    great portal for alla traders

  5. Excellent response from the team. The allegations are false.

  6. FOREXSAM says:

    Hi Carylyne,

    It’s great to hear CMC.

    Regarding more levers and toggles that users can use to filter , it’s will be very helpful if you can fix one of the problems as following:
    regarding: Market Capitalization of Total Supply

    Can we have an option to list both coins and tokens together in one page based on total supply, and filter the coins/tokens which have very low 24h volume such as

    Meantime, for the exchange’s volume ,

    can we have a chart and spreadsheet of the history based on each exchange’s daily volume ?


  7. Forexsam Com says:

    Hi Carylyne,

    It’s great to hear CMC.

    Regarding more levers and toggles that users can use to filter , it’s will be very helpful if you can fix one of the problems as following:
    regarding: Market Capitalization of Total Supply

    Can we have an option to list both coins and tokens together in one page based on total supply, and filter the coins/tokens which have very low 24h volume such as

    Meantime, for the exchange’s volume ,

    can we have a chart and spreadsheet of the history based on each exchange’s daily volume ?


  8. Pingback: Anonymous
  9. CryptoX says:

    Will this volume requirement removal also applies to the new coin/token to be listed there? If not, will it be? Because we all know that there are some coins/tokens out there (with better projects and high market potentials) are having way higher volume than the ones that we see in the coinmarketcap list now. And also looking at the market situation, a minimum requirement $100k volume in trading is way to high for the new coins/tokens to reach. I think coinmarketcap should also consider that too.

  10. Someone says:

    Yobit has a lot of dead coins, and even the live coins many many of them their “wallet is in maintenance” or on wrong blockchains. People who don’t know try to arbitrage and lose their money. I saw that sometimes it’s marked on CMC, but there are a lot more that are not. It’s time to take action against them.

  11. Red Circl says:

    I know several projects that have been rejected recently. CMC has become a centralized platform, you should list all projects if you support what cryptocurrencies are trying to achieve.

  12. Anonymus says:

    Hello CoinMarketCap. How are we going on this marvelous day? Is there any way you guys can revise the $NIX project listings? I’m sure there was some miscommunications between CoinMarketCap and the team, NIX is a great project and coin, the team is wonderful. Please reconsider since I’m sure there is no valid reason to differ. Your time in reading this response is appreciated. I hope you have a grateful and wonderful day.

  13. Love what CMC does for crypto space. I lose count of how many times a day I use your site. The data quality and # of requests you must see I know would be mind boggling and can see why there are delays. Would be good having a pending list so some legitimate projects can see they are in the system but pending until reviewed. For example I am an admirer and supporter of NIX Platform who are a legitimate project with a real product that is now already to go unlike some of the scams you are forced to waste time on. This makes it hard on communities the team to even know if request went through. So maybe you get impatient people spamming you and creating extra pressure in your resources. Anyway just a suggestion

  14. Crypto Jay says:

    Great report! Glad to see CMC working towards increased transparency. Will CMC develop their own tools and platform or will they utilize the services of Crypto Exchange Ranks which provides the 24/7 analytics that members are requesting? Either way, good job!

  15. Mahi says:

    Hi good decision. And kindly request that if any coin or exchange if you don’t want to list please send them message of not approved or not getting listed so they will not keep on requesting or keep on waiting for your message. Regards

  16. korwin11 says:

    I am confused. This is only for exchanges or for coins too? If just for exchanges so please remove that misleading title for sharing. content=”CoinMarketCap stands for transparency and clarity in data, ensuring that all coins and exchanges are represented.

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