📣 Introducing "Real 10" volume and "Liquid Market Cap" on OnChainFX

Today, we're excited to announce the addition of two critical new metrics that will be available this week on Messari's OnChainFX dashboard: “Real 10 Volumes” and our new "Liquid Market Cap", the product of over a year's worth of research.

+ "Real 10” refers to the ten exchanges we believe have reported significant and legitimate crypto trading volumes via their APIs. The constituent exchanges are: Binance, Bitfinex, Bitflyer, Bitstamp, Bittrex, Coinbase Pro, Gemini, itBit, Kraken, and Poloniex. Our price methodology already accounted for apparent volume discrepancies between these exchanges and other components, but we're now limiting our default volume calculations to "Real 10" exchanges on OnChainFX, similar to findings from Bitwise Investments.
+ In the months ahead, we will work with additional exchanges to add their clean order book data to our data feeds and onboard them to our new exchange disclosures registry.
+ Concurrently, we are rolling out our “Liquid Cap” market cap alternative. This is the product of our volume-weighted prices, as well as our team’s “Liquid Supply” estimates. We feel this more accurately reflects the outstanding network value of top cryptoassets. We now have complete supply curve information for the top 50 assets by Liquid Cap, as well as Messari token registry participants.
+ Total industry Liquid Cap is lower than those reported by other data aggregators since we a) exclude "restricted supply" from cap calculations, b) discount tether-denominated prices, which have historically traded at a premium to fiat spot markets, and c) exclude stablecoins.

We look forward to receiving input on our methodology, and collaborating with other industry aggregators to improve the quality and consistency of crypto markets data.