RATE Group | BTI Report: Only Binance and Bitfinex Exchanges Are Not Falsifying Trade Volume Data
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BTI Report: Only Binance and Bitfinex Exchanges Are Not Falsifying Trade Volume Data

16 Dec BTI Report: Only Binance and Bitfinex Exchanges Are Not Falsifying Trade Volume Data

Posted at 13:28h in Ethereum News by

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The Blockchain Transparency Institute (BTI), has released its December 2018 Exchange Volumes Report. The report goes on to state taht only two out of twenty five top cryptocurrency exchanges are actually reporting accurate trade volume. These two exchanges are Bitfinex and Binance. The rest of the exchanges are involved in wash trading that inflates their trade volume figures thus providing inaccurate information.

Evidence of Wash Trading By Some Exchanges

The report also claims that there is clear evidence of wash trading by majority of the exchanges. It states:

For our December report we’ve taken a deeper dive into specific trading pairs on exchanges which are showing clear evidence of wash trading.  This has always been our goal, however we wanted to make sure this data was as accurate as possible, so we’ve been updating and perfecting these algorithms over the past 3 months.

During this time, we have spent countless hours watching order books, analyzing volume data…

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