Messari over Coinmarketcap – Saiteja Kuruva
Hey, Have you ever placed a trade looking at the prices that coinmarket cap shows? I am really very sad to say that coinmarketcap data is very in accurate and I will explain you the reason why?
Recently, I have tried to place trade on Nuo network which is a decentralised debt marketplace where one can lend, borrow and margin trade cryptocurrencies. Nuo get the price feed data from the best prices provided by the decentralised exchanges and it also tracks price and volume across all major cexes with >50 total cexes added already. This makes me to actually believe the prices provided by Nuo. But as a trader I am always excited to check out the performaces of the trades in my mobile. So I just installed coinmakrketcap mobile and tried tracking the prices of the assets. But you know what? The interesting thing that made me to laugh is coinmarketcap show the prices which is almost 4–5 dollars more than the binance, bitmex and bitstamp prices which is really very bad especially for the margin traders.
This is mainly due to the data provided by the exchanges which maintain the fake volumes due to this the price feed aggregator coinmarketcap is failing to provide the accurate results.
From then I have gone with many articles on google and found one interesting price feed aggregator which is really providing the data very accurately that is https://messari.io/ . They check the data that is being reported by the exchanges twice and perform many analysis on the incoming then they make the prices of the particular asset live. Specially for the Decentralised Finance platform like Nuo I would love to use Messari over Coinmarket cap.
Published at Sun, 29 Dec 2019 10:35:50 +0000
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