CoinMarketCap Excludes Bitfinex's BTC Prices Due to Skewed Data

Cryptocurrency market data provider CoinMarketCap has dropped Bitfinex’s Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term trading prices from its weighted average calculation.

The decision was taken by CoinMarketCap.com amid the recent allegations made against the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term by the New York Attorney General’s office for covering its losses using the cash reserves from Tether.

“The price of any cryptocurrency is a volume-weighted average of market pair prices (1) for the cryptocurrency,” CoinMarketCap.com stated in its policy for including price data from an exchange. “Some prices are manually excluded from the average, denoted by an asterisk (*) on the markets tab if the price does not seem indicative of a free market price; for example, when an exchange disables withdrawals or deposits, or regulatory conditions make it impossible for anyone else outside of a certain geographical region to buy coins. Some prices are also automatically excluded when our algorithms detect that the reported price is a significant outlier when compared to other market pairs for the same cryptocurrency, denoted by three asterisks (***) on the markets tab.”

The crypto data platform, however, has not excluded the crypto trading volume coming from the exchange.

Premium price for BTC

Bitcoin has maintained an uptrend in the past week and is trading at $5,690, according to CoinMarketCap.com’s weighted data. The digital currency, however, is trading at a premium price of around $5,950 at Bitfinex.

The Hong Kong-based exchange is not the first of its kind to get excluded by the data aggregator as it has also excluded selected trading pairs of other major exchanges like OKEx and HitBTC. CoinMarketCap’s index also excludes XBT/USD pair from the crypto derivatives exchange BitMEX.

Meanwhile, reports surfaced that Bitfinex is considering to raise funds through a token sale to cover the losses from its frozen funds. Though the details of the sale are not disclosed yet, allegedly leaked reports shows that the exchange is planning to raise as much as $1 billion.