Welcome to the weekly update from Hillstone Finance. We have brought one news for this week:
1. HSF’s ranking in CMC has risen
HSF’s ranking in CMC has risen
As of December 9, 2022 (Fri), HSF’s ranking has risen significantly on CMC (https://coinmarketcap.com/). It has risen from the previous 2,900th, and has now ranked 481th in CMC.
CoinMarketCap (hereinafter referred to as CMC) provides the latest updates on all market data found on the site. They measure the latest market data on various exchanges every minute. All data is run through multiple data cleanup and verification algorithms to ensure data integrity.
Here are the evaluation factors for Ranking (Market Pair, Cryptoasset) that influenced the ranking of this HSF among the methods in which each metric is calculated.
Criteria for evaluating CMC’s ranking
Due to the launch of the CoinMarketCap indices (administered by Solactive, which is fully compliant with IOSCO Principles for Financial Benchmarks), a project’s eligibility for a Top 200 Cryptoasset Rank will now be determined by market capitalization and the following factors:
- Our ability to verify the project’s supply information with no incongruities and double counting of market cap (e.g. wrapped assets)
- Strengths in a number of areas of Listings Review Criteria’s Section C (Evaluation Framework) below
- Significant liquidity/trading activity with normal bid-ask spreads across sufficient sources of market data
- Absence of significant price discrepancies across CMC-supported exchanges
- The asset is traded on at least three exchanges that possess a number of the following attributes:
- Minimal data irregularities
- Publishes granular API endpoints
- Active product development and communication from the team
- Active/engaged community of a considerable size
- Accredited/Audited by a reputable 3rd-party
- DATA Partner
To satisfy these evaluation factors, Hillstone Finance delivered a report on HSF distribution volume related to No.1 and No.2, confirmed that there was no problem with the submitted information, and it seems that HSF’s ranking was re-established on the CMC side.
Reasons for HSF Circulation Reporting
The biggest reason for this distribution report and verification conducted by HSF is the recent delisting of WEMIX. Due to the WEMIX crisis, the importance of content such as distribution management of many crypto projects, medium provided by the foundation, and reliability of disclosure materials is emerging.
Hillstone Finance predicts that the WeMix incident will bring reliability verification to domestic projects. Therefore, Hillstone Finance has certified the distribution volume of tokens to CMC, and it is confirmed that there is no problem with the current distribution volume certification and the business is proceeding the same as in the white paper.
From now on, Hillstone Finance will work hard to ensure transparent and continuous growth in the crypto investment ecosystem.
That is all for this weekly update.
Thank you and have a nice day.
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