Blockchain Research Group Transparency Institute Blockchain has published a report on the evaluation of real trading offers on cryptocurrency exchanges. The results of the study were disappointing. The real quantity of crypto in circulation is substantially lower than the data we can see at CoinMarketCap. It is not connected with the good faith of this resource. The fact is that dozens of stock exchanges use different bot strategies and schemes for providing volume cheating.
According to the study, exchanges such as OKEx, Huobi, HitBTC, and Bithumb falsify more than 80% of the volumes in the most popular trading pairs.
Binans, Bitphinex, Kraken, and Gemini turned out to be the most conscientious. At least, the real volumes in bitcoin trading pairs on these exchanges show one hundred percent compliance with the reported volumes. We are not talking about other “couples”, but, as it seems to us, the situation there is similar.
Why are stock exchanges falsifying volumes? This is probably due to a listing fee. It makes up a large share of the exchange’s income. High trading volumes help to justify high listing remuneration.
Earlier we wrote about other similar frauds. Interestingly, the list of unscrupulous exchanges is almost identical.
We are not responsible for the accuracy of the research conducted by the BTI. We publish a summary of his results. You can study the research methodology yourself using this link.