Coinmarketcap remains the most popular crypto asset tracking website globally. To maintain that position, the company also has to introduce new features to remain ahead of the competition.
Its latest feature comes in the form of a tool capable of tracking overall exchange liquidity. An interesting concept, although it is far from perfect in its current iteration.
At the time of writing, Coinmarketcap only tracks the liquidity of 54 different exchanges.
HitBTC Apparently has Ample Liquidity
That seems woefully incomplete, as hundreds of trading platforms exist globally.
What is even more interesting is how it currently depicts the liquidity of these trading platforms.
According to Coinmarketcap, HitBTC is the platform providing the most liquidity over the past 24 hours.
Those findings put this trading platform ahead of Binance, Huobi Global, Bitfinex, and Coinbase Pro in that order.
It did not take long for some cryptocurrency community members to cry foul.
HitBTC has often been associated with wash trading and other shenanigans, albeit those claims are always difficult to prove.
These figures also confirm that being the biggest exchange in the industry doesn’t mean there is ample liquidity for users to take advantage of.
Volume-wise, HitBTC is not even in the top five, but its overall liquidity puts it ahead of most competitors with ease.
As more exchanges are tracked by this tool, the lay of the land will become a lot clearer in the weeks and months to come.
It is also worth noting this feature by Coinmarketcap is still in beta. There may be various errors in the reporting until the entire concept has been streamlined accordingly.