Measured in terms of Number of Visits and Liquidity
Korea’s virtual asset exchange Upbit was ranked among the world’s top 10 virtual asset exchanges in terms of the number of visits and liquidity.
CoinMarketCap, a global virtual asset data provider, has changed its criteria for assessing virtual asset exchanges from the amount of transactions to internet traffic and liquidity generated by visitors.
When measured in terms of user search and visit ratios and site stay time, Binance placed first, followed by Coinbase Pro and BitMEX.
Among Korea-based virtual asset exchanges, Upbit, Coinbit, and Bithumb ranked 7th, 8th, and 11th, respectively. CoinOne (43rd), Gopax (56th), and Corbit (84th) were also included in the top 100.
Of these, Upbit took first place in web traffic while it is still unable to support trading in the Korean worn for new subscribers. The exchange’s high ranking is attributed to its role as an information platform, such as disclosures of publicly traded projects and the Upbit Market Index (UBMI).
CoinMarketCap said it graded and ranked exchanges by weighting a wide range of data such as the frequency of opening exchange web pages, the numbers of visitors, the rates of revisits, and the time of stay and keyword searches performed by major search engines.
On the other hand, skepticism surfaced about the independence of CoinMarketCap’s operations as Binance was ranked first in the evaluation of exchanges. Binance completed its acquisition of CoinMarketCap in April.