• Messari has changed the way of rating exchanges based on the ‘real’ trading volume. This step has added several big players to the list of top exchanges.

Crypto data analysis and research platform, Messari has modified the way of evaluating and ranking crypto exchanges. Messari introduced ten new exchanges based on ‘real’ crypto trading volumes.

The modified methodology is an attempt to rate exchanges without any illegal market manipulation due to wash trading. This comes as an important measure to address the increasing number of ‘fake volume’ claims which have been undermining the crypto industry. Messari ranked 10 real-volume exchanges, namely, Binance, Bitfinex, Bitflyer, Bitstamp, Bittrex, Coinbase Pro, Gemini, itBit, Kraken, and Poloniex. Binance continues to top the list in terms of real volume across most of the listed coins.

The report stated that previously, the ranking system omitted some of the “largest markets in the world. Particularly, venues with *some* overstated volume, but *enormous* legitimate trading volume at the same time. Giants like Bithumb, UpBit, and CoinOne in Korea, Liquid in Japan, and most importantly, Huobi, OKEx/OKCoin, and Gate.io in China.”

The exchanges will be rated based on the data released by 10 third-party platforms. Some of these platforms are CoinMarketCap, CoinGecko, CryptoCompare, FTX, CryptoWatch, Chainalysis, Nomics, etc.

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