Blockchain Researchers Look to Overhaul Crypto Exchange Ranking Data

By CCN: ‘Reported volume’ is the default metric that people look for when determining the ranks of crypto exchanges. ‘Reported’ and ‘adjusted’ volumes wildly differ on sites like For example, if you look at the image below, you’ll notice a wild difference in “reported” and “adjusted” volumes at press time.

Ranking Exchanges Beyond Their “Volume”

Notice the difference between “reported” and “adjusted” volume on

ViewBase, a “market insights and community” platform centered around cryptocurrency, recently published a report which details other ways we might rank exchanges. Rankings could be based on real facts, like how much crypto they hold or the value of all their tokens combined.

The platform watches for large movements of various coins, including stablecoins, and provides traders the opportunity to discuss observations. It’s a bit like TradingView but crypto-centric.

Ranking exchanges purely by volume – reported or otherwise – may soon be a fallacy in and of itself, as the trend of “initial exchange offerings” gives rise to more “transaction mining.” Transaction mining is where users earn tokens for making trades; this may increase the volume but does it mean the exchange is more significant?

Three New Ways to Objectively Rank Exchanges

So ViewBase looks at three new ways to rank exchanges.

The first way is by ether balances.

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