RATE Group | Researchers Uncover Likely Fake Volume
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Researchers Uncover Likely Fake Volume

20 Dec Researchers Uncover Likely Fake Volume

Posted at 18:02h in Bitcoin News by

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Korean exchange Bithumb reported volumes more than 10x its summertime averages in early November.

CryptoExchangeRanks.com, a research firm linked with Hacken, decided to vet the data. They made the report available to CCN and it’s at the bottom of this article.

Interesting patterns were uncovered when Bithumb’s trading patterns were put under a microscope. The researchers broke the trading activity down into three periods: August 25th to October 7th, October 8th to November 11th, and the third period, November 12th to present day.

During the first period, they discovered that every day around the same time, the majority of Bithumb’s Bitcoin trading would take place in the space of an hour.

Due to the daily spikes around 11AM local time, a “comb pattern” emerges.

Between 90 and 95% of the day’s trading volume at Bithumb took place around 11AM each day. As the researchers write, it created a “comb-like” pattern on the chart above. That chart is the hourly volume…

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