MERCARI DAR Cryptocurrency Benchmarks

Mercari DAR Australian Dollar
Bitcoin Reference Rate

AUD$ 94,558.00
01 March 2024

Mercari DAR Australian Dollar
Intraday Bitcoin Reference Index

AUD$ 94,969.71
02 March 2024 05:06:15

Mercari DAR Australian Dollar
Ethereum Reference Rate

AUD$ 5,189.69
01 March 2024

Mercari DAR Australian Dollar
Intraday Ethereum Reference Index

AUD$ 5,242.36
02 March 2024 05:06:45

Uncertainty about the true value of a given cryptocurrency and fears of market manipulation are primary inhibitors for those operating in or wanting to participate in crypto asset markets. There are thousands of crypto asset marketplaces and each has its own policies related to customer KYC, security, operating jurisdictions, technology, compliance, and regulatory oversight and observation, which makes sourcing accurate pricing data a continuing challenge for market participants.

Obtaining accurate volume data has also historically been difficult in crypto markets. Some trading venues or brokers report unreliable or overstated volume numbers, while others are at risk of manipulation through fraudulent trading. Institutional investors who rely on data from these sources may be trading with less liquidity or price discovery than believed.

Institutional market participants need a “clean price” that is calculated from reliable data sources that have been objectively vetted to determine if reported trades represent economic trading between a real buyer and seller.

Developed in partnership with Digital Asset Research (DAR), the Mercari DAR standardised reference rates are designed to assist market participants to trade and confirm valuations with greater certainty. The Mercari DAR Reference Rates are also suitable for calculating portfolio net asset value (NAV), executing intraday transactions, and other use cases like swap settlements for users seeking to manage cryptocurrency price risk confidently and more accurately.

Mercari DAR’s verified volume data is calculated from trades made on exchanges that passed the comprehensive DAR review processes and met standards to qualify as a Vetted Exchange or a Watchlist Exchange, and reflects actual economic activity between a real buyer and seller.

The Mercari DAR Exchange Vetting Methodology is designed to provide market participants with a transparent view of the objective processes which are followed to evaluate digital asset exchanges with sufficient reported volume. This process aims to identify trustworthy trading venue platforms and encourage best practices by gathering, recording, and comparing a series of quantitative and qualitative data points and due diligence factors.

DAR’s team of researchers and technical experts work closely with trading venues, exchanges, regulators, and investors to collect public and non-public data points that are used to reach a reasoned determination on each of the methodology’s criterion. DAR regularly reviews each exchange using the vetting criteria described herein to ensure its conclusions remain reflective of the market.

Further details about the Mercari DAR Intraday methodology and the DAR Close Price methodology can be found below.

The Mercari DAR reference rates are published 4 p.m. AEST (Sydney Australia time).

The Mercari DAR reference rates are available for licensing for contracts or agreements that need to be cash settled against a robust and recognised reference rate. For licensing opportunities please contact

Close Price Methodology

Learn more by reading about the workings of the Mercari DAR Close Price Methodology calculation

Exchange Vetting Methodology

Learn more by reading about the workings of the Mercari DAR Exchange Vetting Methodology


Learn more by reading about the workings of the Mercari DAR Intraday Price Methodology calculations.