RATE Group | Report Claims Over 80 Percent of Top 25 BTC Trading Pair Volumes on CMC Are Wash Traded
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Report Claims Over 80 Percent of Top 25 BTC Trading Pair Volumes on CMC Are Wash Traded

17 Dec Report Claims Over 80 Percent of Top 25 BTC Trading Pair Volumes on CMC Are Wash Traded

Posted at 20:54h in Bitcoin News by

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A new report from data researchers at the Blockchain Transparency Institute (BTI) claims that the majority of the top 25 Bitcoin (BTC) trading pairs listed on CoinMarketCap (CMC) are based upon “grossly” inflated false volumes. The researchers’ findings for December were published in BTI’s “Exchange Volumes Report” on Dec. 13.

BTI presents its report as “a deeper dive into specific trading pairs on exchanges which are showing clear evidence of wash trading.” The data has reportedly been compiled by using algorithms to analyze volume data points and order books, as well as by consulting with “market makers, high frequency traders, and trade surveillance consultants” over a period of three months.

The Institute states it has thereby “calculated the true volume of the CMC top 25 BTC trading pairs,” finding that:

“Most of these pairs’ actual volume is under 1% of their reported volume on CMC. We noted only 2 out of the top 25 pairs not to be grossly wash…

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