Majority of Crypto Exchanges Inflate Their Trading Volumes: Report

  • Faking trading volumes is a mundane practice for 7 of 10 exchanges listed on CMC. BCEX takes the cake as the exchange with the highest percentage of inflated volumes

Cover image via U.Today

Wash trading is nothing new in the crypto world, but it turns out that it might not be restricted to the armada of fledgling Chinese exchanges. Recent BTI research shows that faking trading volumes is a mundane practice for seven out of ten cryptocurrency exchanges listed on CMC. BCEX takes the cake as the exchange with the highest percentage of inflated volumes. 

Binance and Coinbase remain the market leaders with a huge amount of traffic and impressive social media following to justify their big numbers. Nevertheless, Coinbase, just like other fiat-to-crypto exchanges, witnessed a huge drop in trading volume this year. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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