Cryptocurrency exchange Binance has announced significant changes to the circulating supply data of listed altcoins, considering feedback from users. The exchange clarified that it based its current data on the methodology provided by CoinMarketCap (CMC). However, it emphasized that new metrics will be integrated in the near future.
Current Data and the Role of CMC
Binance stated that it relies on CMC for the circulating supply information of the listed altcoins, excluding those that are shared privately. This action was taken in response to user demands for more transparent data.
Processing New Data and the Transition Process
Binance expressed the need for understanding and patience from the community regarding the integration of new metrics. The addition of new data will provide a more transparent view on altcoin information pages, which is believed to help users make more informed decisions. The implementation of CMC’s upcoming “Open Market Capitalization” (UMC) and “Open Circulating Supply” (UCS) data will be a significant innovation for both individual traders and market specialists. Binance anticipates active community participation during the implementation of these innovations and will continue its efforts to provide a more transparent and user-friendly experience.
These changes underline Binance's commitment to enhancing transparency and meeting user demands, representing a step towards improving the platform experience.
