About to arrive Symmetry, an innovative tool for analysis and research dedicated to cryptocurrencies, the service was designed by the Crypto Briefing platform and by CoinMarketCap and more precisely by its Data Accountability and Trasperancy Alliance. The organizations have chosen to announce together the arrival of this new tool yesterday 9 July.
Simetri is an institutional tool this is thought to be able to guarantee both the verifiability and the transparency of the data coming from the orders made by the exchanges for cryptocurrencies. Sintari will also allow us to provide in-depth analyzes and even reviews impartially on cryptocurrency projects. This new system will soon be incorporated into the profiles of the various cryptocurrencies that are present on the CoinMarketCap website.
The tool will be used to assess what the fundamental elements are of a specific project among which there are: the usefulness, support, development, its technological ecosystem and also other factors that can determine the presence of a sustainable and healthy project. As explained by Global Head of Marketing of CoinMarketCup: the combination of CoinMarketCup's DATA initiative with Simetri, will allow to create a positive trajectory to standardize cryptocurrency data.
Indeed, according to Carylyne Chan, standardization is a necessary factor in order to guarantee a correct visibility of the data on a continuity basis. Data sources in the field of traditional markets are considered a milestone, and having a similar system for cryptocurrencies is necessary.
During the month of May, CoinMarketCap has chosen to invite different cryptocurrency exchanges to accurately disclose the data, in order to improve transparency in the information field. In fact, transparency is very important for the company, so much so that a few years ago the company sent an ultimatum to the exchanges that were listed on the site threatening the delisting if they had not provided more accurate data on volumes and trading.
