Digital currency review platform Crypto Briefing and CoinMarketCap’s Data Accountability and Transparency Alliance (DATA) are jointly launching a new crypto research and analysis product, Simetri. The organizations announced the development in a press release shared with Cointelegraph on July 9.
The institutional-grade Simetri is designed to ensure transparency and verifiable order book data from cryptocurrency exchanges, as well as provide in-depth fundamental analysis and unbiased insights into crypto projects. Simetri will be embedded in cryptocurrency profiles on CoinMarketCap’s site.
Specifically, Simetri will assess fundamental elements of a project such as its technology ecosystem, utility, development, support, and various other factors that contribute to a healthy and sustainable project. Carylyne Chan, global head of marketing at CoinMarketCap, explained:
“The combination of SIMETRI and CoinMarketCap’s DATA initiative represents a positive trajectory for the standardization of crypto data. Data standardization is a key factor in ensuring we can have greater visibility into data on an ongoing basis. Trusted data sources are a cornerstone of traditional financial markets — and as cryptocurrency matures, it needs and deserves these sources.”
In May, CoinMarketCap urged crypto exchanges to disclose accurate data in a move to improve transparency of information available on the platform. At the time, CoinMarketCap declared an ultimatum to all exchanges listed, threatening delisting from the platform if they failed to provide accurate trading, volume and other relevant data.
According to a dedicated analysis from Cointelegraph released in late June, 70% of crypto exchanges reported having provided CoinMarketCap with information required to comply with the DATA initiative.