RootData Unveils New Crypto Exchange Transparency Ranking

RootData has unveiled the first transparency-focused cryptocurrency exchange ranking at Binance Dubai Blockchain Week.

This ranking aims to enhance transparency and investor protection by setting a multi-dimensional evaluation framework for exchanges.

RootData’s Comprehensive Ranking Introduces Mandatory Disclosure Standards

RootData’s ranking, titled “Top Cryptocurrency Exchanges Ranked by Transparency,” includes liquidity, asset value, compliance security, and information transparency. The ranking aims to shift information disclosure from an “optional” to a “mandatory” requirement across the industry. The platform positions itself as the largest Web3 enterprise data provider, with over 2 million users, broadening the scope of information transparency in the crypto industry.

Exchanges will need to adapt to this new standard, emphasizing detailed announcements, asset reserves, and compliance licenses. This framework provides a more holistic view of exchanges, beyond the conventional volume-based assessments. The ranking aims to enhance investor trust and push the industry toward mainstream business integration.

Transparency Push Could Redefine Exchange Evaluation and Compliance

Did you know? RootData’s transparency initiative has redefined how exchanges are evaluated, pushing them to prioritize detailed disclosure practices. This shift mirrors the increased demand for accountability in financial sectors worldwide.

Bitcoin (BTC) is currently priced at $92,242.76, boasting a market cap of $1.84 trillion and a market dominance of 59.04%, as per CoinMarketCap data. The 24-hour trading volume stands at $29.89 billion, reflecting a 4.45% decrease. Recent price movements show fluctuations with a notable 60-day increase of 7.54%, despite a 90-day decline of 14.76%.

According to Coincu’s research, the shift towards transparency could spur significant changes in regulatory and technological standards in the cryptocurrency sphere. By focusing on stronger compliance and disclosure standards, exchanges are likely to see improved investor confidence and market stability.