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Frequently Asked Questions
What is OpenMarketCap?
We’re believers that decentralization can be a positive force for change, however, we’ve been seeing a
worrying trend as power has begun to concentrate around a few players. Decentralization gains from… well,
decentralization. When the movement of entire markets can be driven by a few players and their black box
methods, we need to start questioning how they make decisions, and how trustworthy they are. OpenMarketCap
was borne out of a need to answer these questions by increasing transparency into the system. We provide a
way to quickly compare information across markets so you can get a sense for price, volume and
trustworthiness. The kicker? You decide what we track, from exchanges, to tokens, to details about projects.
Why did the volume suddenly jump on July 3?
We added new exchanges. The reported volume is the aggregate across exchanges.
Why is this data different from CMC?
There are three reasons why token prices may differ on OMC and CMC:
Listing fees - CMC currently excludes exchanges without fees. BitThumb is a major exchange that falls
category. Prices reported by these exchanges are included on OMC.
All exchange data - The
price of BCD (bitcoin diamond) on
CoinMarketCap is an interesting case study. The highest volume exchange
to trade BCD is Binance. However, the Binance price is excluded from the average price because it is an
With OMC, we want to avoid one off rules. Until we can apply a consistent set of rules, we will include
exchanges in the pricing calculations.
Smaller marketcap tokens - The variability in pricing is highest for thinly traded tokens. NetCoin is
Price of NetCoin on CMC vs
Price of NetCoin on OMC. The 600x difference
between prices is entirely due to which exchanges are included
in the price calculation.
What are your rules for determining the ranking?
Tokens are ranked by marketcap, which is the circulating supply * price (marketcap)
Tokens without any trading volume in the past 24 hours are excluded from the ranking.
What are your rules for calculating token prices?
The average price for each token is the volume-weighted average across exchanges
To get the price per exchange in USD, we first find the token's price in BTC. We then determine the
EUR, JPY, KRW, USDT) price for BTC on that exchange.
Any outliers are then removed from aggregate volume and price calculations.
Why was a market excluded from aggregation?
Some exchanges don't trade to BTC or USDT. Since we only use the exchange rates
within an exchange for more accurate conversions, we sometimes can't find a
valid currency conversion Hence, we exclude it from our price aggregation calculation.
However, this happens very rarely and on small exchanges with little volume, and hence
will have little impact on the overall aggregate price.