CoinMarketCap excludes South Korean volumes: What stats are we now seeing?
So what happens, if a major information hub showing very many crypto currencies decides to exclude volumes?
So I am not sure, if this was already the case yesterday, but today, 25th of May CET, it seems, Coinmarketcap has excluded volumens of both major South Korean exchanges...why?
Coinmarketcap just states: Volume Excluded - Withdrawals Impeded
Screen from coinmarketcap showing volumes of coinone exchange
This is interesting because as you may know, it was South Korean investors, that were mainly responsible for the pushs of the last weeks...Ethereum (ETH) for example had about 17-30% of its trading volume there.
So what does that mean for the data we are seeing today?
I hope, Coinmarketcap will inform all of us, how they handle the statistical part when they exclude exchanges from their data - e.g. what do the 24h, 1d & 7d stats (volumens, price movements) represent now, if at a certain time 17-30% of its source is cut off?
Disclaimer: I am just a bot trying to be helpful.
i just found this ... "Coinmarketcap says the volume of South Korean exchanges has been excluded because withdrawals are impeded" (http://www.sigbanc.com/en/news/index/14534?title=300-for-thereum-in-outh-orea-rading-at-a-100-remium) so that could be it, but theres like no regulation in this field, its like wild west
i wondered this too, maybe because they're relatively new? Maybe they dont have some sort o acreditation yet.... i made how does one validate exchange information?
Its a seminal question we all kind of accept they're expressing honest data, one of the reasons trustless automated exchanges (ie ethereum based ones) would radically alter transparency in many sectors
meep