Can CoinMarketCap DATA Alliance Enhance Data Integrity?

At its 6th birthday, CoinMarketCap (CMC) – the Crypto market cap tracker had launched an initiative called the Data Accountability & Transparency Alliance (DATA), which hopes to “promote greater transparency, accountability, and disclosure from projects in the crypto space.”

There are 3 phases of the DATA initiative. In phase one, CMC had announced the removal of exchange from the price and adjusted volume calculation if the exchange did not submit live trading data and live orderbook data within 45 days. These changes will be effective since 14 June 2019.

In phase 2, exchanges are required to provide enhanced data and metrics, such as exchange cold or hot wallet address, live status of wallets and market trading pairs etc. Phase 3 relates to self-reporting information from exchanges and crypto projects, such as supply schedule, developer activity and history of rebrands and swaps.

12 exchanges have joined DATA already, including Bittrex, Binance, Huobi, OKEX, UpBit, Liquid, OceanEX, IDEX, KuCoin, Gate.io, Bitfinex, HitBTC.