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Bitcoin and cryptocurrency exchanges & nbsp; many of which have been the subject of scandals in recent years, have struggled to gain the trust of users and regulators, with the volume of trade and price manipulation & nbsp;a constant concern of traders and regulators.
The price of bitcoin, down some 80 percent from its historic high of nearly $ 20,000, has been repeatedly charged with manipulation, with a long-term bear market that has provoked& nbsp;a bitter crypto winter to conquer the area& nbsp; during the last year.
At present, a report warns that much of the volume of bitcoin and cryptocurrency trades on some of the world's largest stock exchanges might not be. "true," with startup researchers, nearly 90% of respondents were uncertain.
The exchange of bitcoins and cryptocurrency have been the subject of several scandals during their ten years of existence.Getty
After badyzing Internet traffic on the top 100 encrypted exchange websites, Bitcoin and cryptocurrency researchers found that 75% of transaction volumes reported on trade were more than doubled. Meanwhile, around 90% of the trading volume could be & nbsp; false.
To conduct this research, the company compared the weighted average trading volume of nearly $ 600 per user visit in major encryption stock exchanges, such as Binance, Kraken, Coinbase Pro and Gemini, and the following: applied to other smaller purses.
He found that some exchanges, such as & nbsp;BW, ZBG, & nbsp;BitMax, & Lbank, & nbsp; announced a volume of transactions 10 times higher than expected, but at & nbsp; US. Binance, the largest cryptography exchange in the world, has & nbsp; online trade with those reported.
"Our team looked at whether the volumes reported on cryptocurrency trading were genuine," the tie said via Twitter. "The chart below shows the transaction volumes reported by exchange compared to monthly web visitors, while exchanges such as Kraken, Binance and Coinbase show similarities between the number of viewers and the volume of trade, of course." others, such as Coinbene and ZBG, have a reported amount of content relative to a suspicious level. "
The researchers compared the monthly visits to the website to expected trading volumes in bitcoins and cryptocurrency.The tie
"BitMax, Lbank, BW and ZBG, whose reported volumes were extremely high, but which in some cases should be less than 1% of what they reported, have" the researchers said.
"If each exchange represented on average the volume per visit of CoinbasePro, Gemini, Poloniex, Binance and Kraken, we would expect the actual volume of trade between the 100 largest exchanges to be $ 2.1 billion per day. Currently, that figure is $ 15.9 billion. "
"This report had some limitations, including some of the above-mentioned answers, but the purpose of the exercise was to show the exchanges that seem most suspicious and to engage in a more in-depth discussion on the wash trading, l & # 39; 39, exploration of transactions and liquidity. " the researchers added. & nbsp;
The price of bitcoin has largely remained stable in recent months, with traders looking for major and dynamic developments.CoinDesk
Meanwhile, Bitcoin bulls continue to talk about prospects for bitcoin and cryptocurrency, with the founder and general manager of the Galaxy Digital cryptographic badet manager. Mike Novogratz said that Bitcoin's next move would be "higher."
Novogratz adds its voice to other bitcoins and crypto-fortunate, including the billionaire & nbsp;Binance general manager Changpeng Zhao, & nbsp; EOS co-founder and CEO of BlockOne, Brendan Blumer, and & nbsp;billionaire Winklevoss, twin of Facebook's founding fame, who later created the American Gemini crypto exchange, who said they still have great confidence in bitcoin and crypto despite the slowdown …and bet that prices will go up.
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Trade in bitcoins and cryptocurrencies, many of which have been the subject of scandals in recent years, is struggling to gain the trust of users and regulators, as trade volume and price manipulation are a constant concern traders and regulators.
The price of bitcoin, which has fallen by some 80% from its record high of nearly $ 20,000, has been repeatedly charged with manipulation, a long-standing bear market a heroic crypto winter to conquer the area over the past year.
Today, a report warns that much of the volume of bitcoin and cryptocurrency trades on some of the world's largest stock exchanges may not be there. " the Tie start-up researchers concluded that almost 90% was questionable.
The exchange of bitcoins and cryptocurrencies has been the subject of several scandals during their ten years of existence.Getty
After badyzing Internet traffic on the top 100 encrypted exchange websites, Bitcoin and cryptocurrency researchers found that 75% of transaction volumes reported on trade were more than doubled. Meanwhile, nearly 90% of the trading volume could be wrong.
To conduct this research, the company compared the weighted average trading volume of nearly $ 600 per user visit in major encryption stock exchanges, such as Binance, Kraken, Coinbase Pro and Gemini, and the following: applied to other smaller purses.
He noted that some exchanges, such as BW, ZBG, BitMax and Lbank reported a trading volume 10 times higher than expected, although US trade and Malta's Binance, the largest cryptographic platform in the world, are trading at a level comparable to the one announced.
"Our team investigated whether the volumes reported on the cryptocurrency exchanges were genuine", the tie said via Twitter. "The graph below shows the volumes of transactions reported by exchange compared to monthly visitors.If exchanges such as Kraken, Binance and Coinbase show similarities between the number of viewers and the volume of transactions, others like Coinbene and ZBG have comparatively suspect reported volumes. "
The researchers compared the monthly visits to the website to expected trading volumes in bitcoins and cryptocurrency.The tie
"BitMax, Lbank, BW and ZBG, whose reported volumes were extremely high, but whose expected volumes were in some cases less than 1% of what they reported," the researchers said.
"If each exchange represented on average the volume per visit of CoinbasePro, Gemini, Poloniex, Binance and Kraken, we would expect the actual volume of trade between the 100 largest exchanges to be $ 2.1 billion per day. Currently, this figure is $ 15.9 billion.
"There were limits to this report, including the above, but the purpose of the exercise was to show the exchanges that seem the most suspicious and to engage in a larger discussion around wash trading. , from the extraction of transactions and liquidity, "added the researchers.
The price of bitcoin has largely remained stable in recent months, with traders looking for major and dynamic developments.CoinDesk
Meanwhile, Bitcoin bulls continue to talk about prospects for bitcoin and cryptocurrency, with the founder and general manager of the Galaxy Digital cryptographic badet manager. Mike Novogratz said that the next move that will make bitcoin will be "higher".
Novogratz adds its voice to other bitcoins and crypto-fortunate, including the billionaire Binance general manager Changpeng Zhao, EOS co-founder and BlockOne CEO, Brendan Blumer, and billionaire Winklevoss, twin of Facebook's founding fame, who later created the American Gemini crypto exchange, who said they still have great confidence in bitcoin and crypto despite the economic slowdown – and that they are betting that prices will rise.
