Almost 90% of cryptocurrency exchanges report inaccurate data on their trading volumes, according to research by the analytical platform The Tie…
As a result of the analysis of data collected from 97 trading platforms, it was found that most of the reported user transactions do not exist. Researchers concluded that the trading volumes of 87% of crypto exchanges are in doubt, and some kind of suspicious activity was traded on 75% of the exchanges..
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Analysts studied the activities of the largest platforms such as Binance or OKEx, and less well-known.
According to The Tie, if the top 100 marketplaces expected real performance, then their total the average daily volume would be $ 2.1 billion, and now this figure reaches $ 15.9 billion.Similar accusations were made earlier, but representatives of cryptocurrency exchanges in response to the confusion associated with third party services such as CoinMarketCap.
According to Changpeng Zhao, companies are engaged in such falsifications in order to increase their position in the rankings and attract more new customers. However, as a result of such actions, the level of their reliability decreases from the point of view of the systemic method…
As a reminder, the Chicago Board Options Exchange (CBOE) suspended trading Bitcoin Futures to Redefine Your Approach to Virtual Assets.
text: Ivan Malichenko, photo: monthaccountan