improving coinmarketcap

[kisa2005]

Hi folks,

With regards to some coinmarketcap shortcomings here I suggest possible ways to address them:

1. Market Cap is shown for all (pre-)mined coins, even if only a tiny percentage actually available for trading

-> e.g. for someone to push their newly designed coins to the top of the league, it would suffice to release a tiny percentage of them into the market, causing price squeezes due to shortage of supply. One could argue nothing wrong with that as the price is determined between market participants aware of supply shortages. However, the ranking in the league table vs coins with wide circulation is misplaced.

Suggestion -> supplement with a new ranking based on Traded Market Cap or a similar statistics (over a certain period across all available exchanges), e.g. Traded Market Cap (24h) = Traded Volume (24h) x Weighted (by volume) Average Traded Price (24h)


2. The prices on less liquid exchanges are sometimes "manipulated", in that off-market transactions for small volumes are enacted

-> e.g if the market with reasonable size bid / offer for a certain coin is at $1.50 / $1.55, someone might sell tiny amounts to lower bidders at $0.50 without risking much. Yet such transactions come on record and distort both price and market cap history charts.

Suggestion -> for each coin introduce some reasonable minimum treshold trade size which is required for inclusion of that trade into the price and market cap statistics.


3. The % change in Market Cap is shown over the 24h period, e.g. every minute we look at % change to a different reference point.

-> e.g. even though 24h change might be interesting, the observed % change is then not comparable to the observed % change value several minutes or hours ago. This is irritating and gets substantially magnified when prices are volatile, or being manipulated as per above.

Suggestion -> use % change to a fixed time point of a day, such as 0:00 GMT. Perhaps this has been already discussed, so apologies if the community already actually agreed on the existing format.

feedback is appreciated!

[Thorgrim]

Those are some decent suggestions.

Clearly certain coins are able to exploit the current parameters and get undeserved attention.

One criteria that should be instituted I think is that coins should have to be listed on multiple exchanges to get listed, and those exchanges should have to trade more then one type of coin.

This would provide multiple sampling points for data and prevent the coins creators from just making their own exchange where they could manipulate the price of their coin.

Something else that would be nice is longer term data.

7 day volume, and 7 day % change would be nice.

30 day change would also be informative because many coins leap frogging up the marketcap rankings don't even have 30 days of trading data. If you looked at a coin and the 30 day change was N/A then you would know that a coin hasn't been trading for long. Right now you have to click through the charts to figure this out.

The other nice thing about having 7 day and 30 day change data would be it would give you a better idea of the long term performers vs the short term ones.  It would be valuable information for those with more of an investing approach and those more interested in day trading because you could easily compare different coins performances on different time scales. Right now you can do that analysis yourself but it involves a lot of clicking through graphs and checking different time points.