If you take one look at Coin Market Cap, it becomes easily apparent that cryptocurrency trading is reaching multi-month highs. However, researchers claim that many established crypto exchanges are reporting billions in false volume each and every day, potentially setting precedent for a nasty drop in the Bitcoin price.
For much of late-2018, exchanges in this space saw little traffic. Case in point, the daily nominal value of cryptocurrency trades fell under $10 billion on a number of occasions. But, ever since Bitcoin’s tumble in mid-November, trading activity has purportedly been on the up-and-up.
In February, exchanges posted a collective $25 billion or more — approximately 20% of the market value of all digital assets — in volumes each and every day. To give this statistic some much-needed perspective, this budding market hasn’t seen such activity seen early-2018, when cryptocurrencies were still trending on Twitter worldwide and mainstream media outlets covered the matter day in, day out.
But, Crypto Integrity, a blockchain-centric research division that specializes in market manipulation and fraud, claims that volume figures seen are far from cut and dried.
88% Of Trades Could Be False
Integrity released its February report earlier this week, which outlined the presence and veracity of “fake volumes in cryptocurrency markets.” The pseudonymous team explains that there’s a high likelihood that 88% of all trading volume seen on exchanges during February, which was when tumult in Bitcoin markets returned, is entirely false…
Continue reading at NEWSBTC.com