Building upon the success of Trust Score, CoinGecko today announced Trust Score 2.0, which will bring about a more robust exchange ranking system.
This was launched, following several high-profile cryptocurrency exchange closures and hacks during the first half of 2019, leading to losses of over $270 million.
This update will go beyond liquidity measurements and will introduce four new major measurements, namely, exchanges’ API technical competency, scale of operations, estimated cryptocurrency reserves, and regulatory compliance.
Earlier in May 2019, CoinGecko launched Trust Score to provide additional insights into exchanges’ liquidity through orderbook and web traffic analysis. This was necessary to combat fake exchange volumes and to provide cryptocurrency investors with the means of avoiding exchanges that have poor actual liquidity.
“As one of the world’s largest cryptocurrency data aggregators, it is our duty to provide critical and actionable data to our users.
With the launch of Trust Score 2.0, progress is being made to promote transparency amongst cryptocurrency exchanges. We look forward to innovating further to better evaluate cryptocurrency exchanges based on a comprehensive set of data,”
said TM Lee, co-founder of CoinGecko.
Trust Score 2.0 is now live on CoinGecko for all exchanges, giving traders instant access to these insights.
