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【Report】Bibox Crypto Exchange to Join CoinMarketCap Transparency Alliance
2020-11-24 01:33

The Bibox exchange, one of the most active markets, has joined the Data Transparency Alliance established by CoinMarketCap. The Alliance aims to inform traders, without censoring exchanges and market operators, by providing accurate data about accounts, trading activity, and order books.

CoinMarketCap has listed multiple new markets but has also excluded some exchanges due to anomalous volumes or automated activity.

Bibox is one of the exchanges achieving high volumes and is now increasing its activity to include the much-sought initial exchange offerings (IEO). Through Bibox Orbit, traders may have access to curated token sales. Additionally, Bibox follows the best practices of trading fee redistribution and quarterly token burns.

The first deadline for exchanges to provide basic data is June 14. After that, markets will be able to reveal more detailed data about trading, markets, and order books.

Already 22 exchanges have joined the Transparency Alliance, and among them are leading market operators such as Binance, OKEx, Bittrex, and others. Bibox thus lines up with the early birds to provide transparent data.

For analysts, it has been difficult to determine real trading volumes, even for Bitcoin (BTC). According to some researchers, the real market for BTC is actually small, and 95% of the activity is fueled by bots. Faking volumes was one way for market operators to gain prominence since CoinMarketCap also listed exchanges based on their activity.

Bibox now hosts over 200 trading pairs, achieving trading volumes of above $770 million. With those daily trading results, Bibox lines up close to Binance, Huobi, OKEx and other leading markets. Currently, the most active pairs on Bibox are for BTC, Ethereum (ETH), EOS, Litecoin (LTC), followed by a long list of lesser tokens and altcoins.

Bibox Token (BIX) currently trades at $0.28, down from a recent peak above $0.48. The token is currently under pressure from the rising BTC dominance, similar to other altcoins. BIX trading volumes exceed $9 million in 24 hours. The price of the BIX native coin is still far below its value.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.


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Bibox Team
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