Monitoring Markets
An overview of the market data found on the asset pages of assets listed on Messari
Exchange List
An exchange is a platform that allows users to buy and sell their crypto assets. These exchanges provide an exchange rate for different pairs of assets that are allowed to be traded on the platform. An example of this would be Ethereum (ETH) to US Dollar (USD)
Exchanges come in two different categories:
Centralized Exchange: These types of exchanges are governed by the organizations that run them. They operate by taking custody of a user´s assets to execute the exchange . Assets listed on centralized exchanges need to meet certain security and legal standards.
Decentralized Exchange: These types of exchanges are governed by smart contracts. They operate on either an AMM (Automated Market Maker) or order book model. Any asset can be listed and exchanged.
Messari aggregates market data from Kaiko as well as our own integrations with The Graph for Decentralized Exchanges. We also apply our own Real Volume methodology. It is well known that many exchanges conduct wash trading practices in order to inflate trading volume. "Real Volume” refers to the total volume on the exchanges that we believe with a high level of confidence is free of wash trading activities.
You can use the search bar to help locate exchanges of interest. Searches can be done to find exchanges by name or by assets included in a pair (ex: USD = USDT, USDC, etc).
In addition to search, exchanges can be filtered by name or whether or if the exchange is 'Verified' or 'Not Verified'. Verified markets are considered to have Real Volume. See the below 'Understanding Metrics' for more information on these definitions.
Metric | Definition |
|---|---|
Price Deviation | The percent difference in the price of the asset on a given market from the VWAP (Volume Weighted Average Price). For example, if the price of the asset on a given market is lower than the VWAP, the Price Deviation will be negative. |
Real Volume (24h) | "Real Volume" is used to differentiate markets that are on exchanges that we believe with a high level of confidence are free of wash trading activities from others. You can read more about it on our proprietary methods page. The data displayed is the total real volume for a given market over the last 24 hours |
Reported Volume (24h) | Reported Volume" refers to the volume reported by the exchanges for a given market. The data displayed is the total reported volume for a given market over the last 24 hours. |
Verifired Market | Indicates if the market's exchange is considered as having Real Volume or not. "Real Volume” is used to differentiate exchanges that we believe with a high level of confidence are free of wash trading activities from others. For some exchanges, we consider that the real volume is equal to the reported volume. For others, we only count 50% of the reported volume as Real volume. You can read more about it on our proprietary methods page. |
Last modified 8mo ago