CryptoCompare is holding an interactive webinar on July 16 on what makes a Top-Tier cryptoassets exchange. In the webinar, we will debut our latest Exchange Benchmark next to a panel of experts from our top-ranking exchanges.

San Francisco-based cryptocurrency exchange Coinbase is reportedly planning to go public as early as this year. Sources claimed Coinbase is eyeing a direct listing and not a traditional initial public offering.

Tether, the issuer of the USDt stablecoin has already blacklisted a total of 39 Ethereum addresses holding the token since November 2017.

Top stories in the Crypto Roundup today:

• What Makes a Top-Tier Exchange? Find out With CryptoCompare
• Coinbase Preparing for Stock Market Listing as Early as This Year: Report
• Tether Has Backlisted a Total of 39 Ethereum Addresses Holding USDt

At the time of writing, bitcoin (BTC) is trading at $9,164.58 (-2.45%) with a daily Top Tier volume of $2.12 bn. As for ether (ETH), it is trading at $238.29 (-3.19%) with a daily Top Tier volume of $749.14 million. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 3,153.19 (-1.02%).

What Makes a Top-Tier Exchange? Find out With CryptoCompare

The number of digital trading venues available to investors keeps on growing, and with it making a decision on trusting a trading platform becomes harder. Amid growing allegations of inflated trading volumes, CryptoCompare’s team set out to design a system that would evaluate exchanges that was not based on data that could be manipulated.

The result was the release of our first Exchange Benchmark in June 2019. The Exchange Benchmark has since become an industry standard for ranking exchanges as it provides a comprehensive framework for assessing risk, and brings transparency and accountability to the rapidly evolving market.

In an interactive one-hour webinar, CryptoCompare will debut its latest Exchange Benchmark on July 16. We will go through our methodology and hear from an expert panel of some of our top-ranking exchanges. Join us.

Coinbase Preparing for Stock Market Listing as Early as This Year: Report

San Francisco-based cryptocurrency exchange Coinbase has reportedly started preparing for a stock market listing that could come as early as this year. The exchange, according to a source from Reuters, is considering a direct listing instead of a traditional initial public offering (IPO).

While in an IPO new shares are created, underwritten and sold to the public, in a direct listing no new shares are created, so only outstanding shares are sold to the public.

To go public, Coinbase would need the U.S. Securities and Exchange Commission’s (SEC) blessing. While Reuters’ sources claimed Coinbase has not yet registered its intention to go public with the SEC, it has already reached out to investment banks and law firms.

In its latest private fundraising round, in 2018, Coinbase was valued at $8 billion. The cryptocurrency exchange was founded in 2012 and now has over 35 million users. As seen in CryptoCompare’s June 2020 Exchange Review, Coinbase was the third-largest top tier exchange by spot trading volume in May, trading over $6.8 billion worth of crypto that month, behind OKEx and Binance.

Tether Has Backlisted a Total of 39 Ethereum Addresses Holding USDt

Tether, the firm behind the number one stablecoin USDt, has blacklisted a total of 39 Ethereum addresses holding the stablecoin since November 2017.

According to Philippe Castonguay, an Ethereum researcher at Horizon Games, 24 of the 39 Ethereum addresses that Tether has blacklisted were frozen this year. The analysis shows that $5.51 million worth of USDt are being held in the addresses that were blacklisted this year, with the largest one holding $4.56 million worth of the stablecoin.

Stuart Hoegner, general counsel at Bitfinex, a firm that shares management with Tether, commented to The Block:

"Tether routinely assists law enforcement in their investigations... Through the freeze address feature, Tether has been able to help users and exchanges to save and recover tens of millions of dollars stolen from them by hackers.”

When an address is blacklisted, it’s worth noting, the USDt tokens in them become unusable and those in control of the private keys are no longer able to send or receive the stablecoin.

Flipside Friday

The Flipside Crypto Disparity Ratio is a tool helping you find out which cryptoassets are under and overvalued. The crypto disparity ratio scores cryptoassets based on market capitalization and FCAS ratings, with a score over 1 showing it’s undervalued, and under 1 showing it’s overvalued.

POA Network (POA), a public sidechain based on the Ethereum protocol that will use Proof-of-Authority and allow organizations to build their own networks in their own validators and allow developers to deploy decentralized applications, tops the undervalued list with a score of 1.46.

XYO, an ERC-20 token used for a decentralized network of devices that anonymously collects geospatial data, comes next with a score of 1.31. It’s followed by the Raiden Network (RDN), an off-chain scaling payment solution to perform ERC20 compliant token transactions, at 1.30.

At the bottom comes Storj (STORJ),  a decentralized cloud storage platform that allows anyone to rent their idle hard drive space and to earn a revenue by doing so.

On the overvalued side we CyberVein (CVT), a Distributed Ledger System that allows for the decentralized management of complex datasets on the blockchain, without requiring centralized storage providers. It’s followed by Huobi Token (HT). an ERC-20 token that allows users to receive a discount on fees at the Huobi exchange, among other advantages.

Next have the DxChain Token (DX), the world’s first decentralized big data and machine learning network powered by a computing-centric blockchain, at 0.35.

Then comes Monacoin, the once-popular cat meme cryptocurrency which has even been used to buy land in 2014, at 0.36.  At the bottom we have Crypterium (CRPT) , a cryptobank platform that leverages the ETH blockchain to provide an instant processing engine for fiat and crypto-based transactions.

Attention CryptoCompare Streaming API users!

Following a major recent update to our streaming services, we will retire our Socket.IO streamers on the 13th of July. This means all CryptoCompare Socket.IO API users are required to upgrade to our new WebSocket API streaming service by this date.

Please note that the REST API and existing API keys will not be affected.

To continue streaming market data via WebSocket please do as follows:

1. Register for a new API key before the 13th of July – choose from one of our three flexible API licenses or register for a free API key, where eligible.
2. Upgrade and connect to the WebSocket API by following these simple steps.
3. In a hurry? Contact us at data@cryptocompare.com to apply for temporary IP whitelisting to ensure service continuity while you migrate.

The new streaming API service features new datasets, better documentation, secure authentication and offers real-time trade, ticker, volume, level 2 order book data, as well as OHLC candles and the CryptoCompare Aggregate Index (CCCAGG).

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State of the Crypto by Top Tier Exchange Volume

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