Last year, when Bitwise Asset Management sent in its analysis report to the United States Securities and Exchange Commission, it stated that 95% of volume on unregulated exchanges appeared to be fake. This sent shock waves through the cryptocurrency industry. Although, within more professional circles, it was not entirely a surprise.
For a long time, exchanges were ranked based on trading volumes, and among exchanges, this was the most competitive metric. To attract both traders and project listings, exchanges fought tooth and nail to rank high on crypto data aggregators. Many exchanges were long suspected of inflating their exchange volumes, however, the reported 95% far exceeded expectations.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.