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CoinMarketCap’s New Algorithm Ranks BitMEX as 175 Which Raises Concern

Dawn Wu

Summary: CoinMarketCap updated its rating mechanism and now pushed the ranking of BitMEX to 175 and Deribit to 179. Crypto Briefing sees the drop as relevant to Binance’s acquisition of CoinMarketCap.

CoinMarketCap updated its rating mechanism and now pushed the ranking of BitMEX to 175 and Deribit to 179. Crypto Briefing sees the drop as relevant to Binance’s acquisition of CoinMarketCap.

Leading cryptocurrency exchange now receives a score of zero for average liquidity and, overall, ranks 175th on CoinMarketCap, a prestigious crypto market data site. This slump in the ranking was a result of the recent application of a new algorithm, which came after Binance’s purchase earlier this year in April.

CoinMarketCap tweeted less than two hours ago that “the latest ranking applies to spot market pairs and exchanges.” The site promises to launch a separate page for derivative exchanges soon.

By Dawn Wu

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