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Methodology & Data

Exchanges builds its data from a specific set of exchanges who meet the necessary criteria to be included in our calculations. Data is collected every minute through a combination of websocket connections and HTTP requests. This data is then cleaned, verified and aggregated to create our various price indexes and volumes that you can find on

Exchange Requirements

For an exchange to be included in the Index, it must meet the following requirements:

  • Real-time data availability via HTTP or WSS
  • ETH/ERC20 markets
  • No feeless trading
  • No wash trading creates its volume weighted index data from the following exchanges:

Kraken, Gemini, Coinbase Pro, Bitstamp, Poloniex, Binance, Huobi, Liquid, DigiFinex, Bittrex, Bitfinex, HitBTC

Weighted Average Prices

All prices are weighted based on 24 hour volume. For example, an exchange with a $5M 24 hour volume for the pair ETH/USD will carry a higher weighting in the Ethereum Price calculation than an exchange with a $1M 24 hour volume for the same pair.

Price (Market Pair)

When viewing any of the tokens on, you will be seeing market pair data for your chosen quote currency (USD, EUR, BTC etc). This data is the weighted average price of the selected pair across all listed exchanges.

In cases where a market pair does not exist at any of the listed exchanges i.e. ETH-ILS, a foreign exchange calculation is made between USD and ILS to provide the ILS ticker price for ETH. In instances where the USD market pair is not available i.e. NPXS-USD the next best market is chosen for the conversion i.e. NPXS-ETH which all other markets are then standardised to.

Price (Token)

When viewing our token rankings, the price seen will be a weighted price across all currency pairs for that token. As opposed to the market pair price, the token price will include price data from ETH/BTC, ETH/EUR, ETH/GBP with each quote currency (i.e. BTC, EUR, GBP) being converted to a USD price. This allows us to provide an accurate price data for tokens who do not have any markets quoted in USD.

The market pair price (see on the market’s page i.e. is more reliable for those looking for the spot price of a particular asset as there are no foreign exchange calculations.

High/Low Data

Highs and lows are calculated as the highest or lowest trade for a particular market across all exchanges, not across the calculated weighted average.

Volume (Market Pair)

Volume data for a market pair is the summed 24 hour volume for a given market pair (i.e. ETH/USD) across all listed exchanges.

Volume (Token)

Volume data for a token is the sum of 24 hour volume across all market pairs at each listed exchange, standardized to USD.

Market Capitalization

Market capitalization represents the total value of all tokens by multiplying price by the token’s circulating supply. The price used is either the market pair or token price depending on the context.

Blockchain Capitalization

Blockchain capitalization is the sum of all tokens’ market capitalization. This figure represents the total value of all tokens circulating on the Ethereum network.

Ethereum Dominance

Ethereum dominance is the ratio of Ether market capitalization to the market capitalization of all other tokens on the network, denoted as a percentage.

Circulating Supply

Circulating supply data is sourced from the CoinMarketCap API and is an approximation for how many tokens are circulating in the system.

Token Rank

Each minute tokens are ranked in order of their market capitalization and ranked with rank 1 representing the token with the highest market cap.

To avoid low-traded tokens reaching a misleadingly high ranking, the algorithm excludes tokens whose 24 hour volume is less than $10,000.

Live Data

Users can view live market data for each market pair by clicking the ‘live’ range in the header. This data is not yet available directly through and is instead sourced through’s weighted average.