On May 27, the HitBTC cryptocurrency exchange reported on cooperation with the CoinGecko blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details start-up, which specializes in licensing the accuracy of information on tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details volumes on crypto platforms. Representatives of HitBTC told about it in the Twitter.
CoinGecko and HitBTC: cooperation
CoinGecko is a blockchain start-up that just a few days ago presented a new service, Trust Assessment. According to the CoinGecko blog, in traditional stock markets with a large trading volume they often talk about high liquidityLiquidity
– is a term that means the ability to sell any financial assets (below or above the market price). The term “liquidity” in Latin means “liquid”, “flowing”.Details.
However, according to representatives of a startup, high-volume crypto-exchanges do not necessarily mean high liquidity of goods. This is due to the fact that many of the unregulated exchanges participate in forex trading and other manipulative activities in orderOrder
– automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details to increase their trading volume.
CoinGecko is a special tool that tracks real trading volumes on the platform and compares its data with the information provided by the exchanges. According to the ratio, this startup sets its "Assessment of Trust". Exchanger HitBTC decided to join a startup to prove the transparency and reliability of their work.
Interesting in the section: Hitbtc – cryptocurrency platform for traders
Representatives of the exchange said they would join the project to fight together with fake information and manipulative technologies in the crypto market.
"Dear traders, we are pleased to announce a partnership with coingecko in the fight against counterfeit volumes and ensuring global transparency" – HitBTC.
Available about the complicated: HitBTC Exchange decided to prove to its users that it is absolutely clear in front of them and provides real information about the trading volumes on the site. In order to license the information, the exchange joined the regulatory CoinGecko startup, which checks the data and sets the "Trust Assessment". This can be regarded as an effective marketing move, and as proof of the transparent work of the exchange.
CoinGecko collaborates with HitBTC to show the absence of manipulation of trading volumes. Recall that on April 30, HitBTC added support for the EOSDT tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details (a steeblecoin in the EOS network).
Editor: Yuliya Soroka