Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
A report that came out in March this year stunned the cryptocurrency community as Bitwise, who ran the research, suggested that as much as 95 percent of volume being reported was faked. Faked volume, also known as wash trading, is a nefarious practice that is aimed at giving undue legitimacy to exchanges, and in this case, cryptocurrency exchanges.
Since this revelation, there has been work done to try and quell the faked volumes and reach a situation where what is being reported can be trusted. Even the likes of Ripple have said that they expect to be reporting far lower numbers in the future as they look to try and ensure that what they report from exchanges is accurate.
With this, a recent report from the Blockchain Transparency Institute has shown that there has been an almost 40 percent reduction in the fake volume, or wash trading numbers - which is a good start, but not the whole picture. Theresearch breaks down which exchanges, and even which countries are giving the most accurate data.
With that, they have released that Kraken and Coinbase for delivering the most accurate data in regards to wash trading, but they have also slammed OKEx, who they claim are among the worst when it comes to this aspect of bad business.
However, this has caused a backlash from OKEx who have refuted the fresh allegations of such manipulative practices. They spoke with Cointelegraph and said that the recent report from the Blockchain Transparency Institute (BTI) were “not accurate and misleading.”
In the report form the Blockchain Transparency Institute, they explained how, in their fifth iteration of their report, they have been looking at wash trading and its effects on the market.
“Since the start of 2019, global wash trading has reduced by 35.7% among the real Top-40 exchanges. The process of sharing our data reports with many of these exchanges has resulted in enhanced mechanisms for detecting wash trading accounts and shutting them down.”
The report reveals that the cleanest exchanges since its latest report continue to be Kraken, Coinbase, Poloniex, and Upbit. OKEx and Bibox, on the other hand, are the exchanges with the highest rates of wash trading according to the report's real ranking of the top-40 exchanges.
The BTI report further found that Japan and the United States lead the world in exchanges with accurate reporting. The reports adds:
“This can be due to several factors, the main of which is the legal and regulatory standards in these countries. However, stricter regulatory frameworks do not always produce the cleanest exchanges.”
With the finger being pointed at OKEx by the report, the exchange has struck back and said:
“Due to the complexity of derivative instruments trading, thousands of trades could be placed per day by a single user via collocated machines. Attempting to use retail-oriented parameters such as website/mobile traffic in any research is de-facto an apple-to-orange comparison.”
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
TRENDING
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Small Banks Lose $120 Billion in Deposits Amid SVB Turmoil: Bitcoin Profits and Sydney Ifergan Warns of Global Economic Risks
28 minutes ago | The Currency Analytics
Major Shift in Large Shiba Inu (SHIB) Transactions Underway, According to Crypto Analytics Firm IntoTheBlock
47 minutes ago | The Daily Hodl
Massive Crypto Crime Wave Uncovered: The Jaw-Dropping Truth Behind Billions In Hacks And Scams
48 minutes ago | Benzinga
Steve Bannon and $FJB Digital Currency Run Into a Few Issues
51 minutes ago | LiveBitcoinNews
JustBit Casino Review
JustBit Casino, which specializes in virtual currencies, is easy to use because withdrawals are expl...
Huobi Token General Overview
Is Ripple The Cryptocurrency of 2021? - In Depth Review of Ripple XRP
Ethereum Classic Review
Monero General Overview
XBO
XBO.com cryptocurrency exchange redefines how you interact with crypto. Designed to make the benefit...
Bithumb
Understanding Bithumb This article highlights what is Bithumb and where it is located. It also di...
Bitstamp
Bitstamp's continued success in the crypto market This article highlights what Bitstamp is. I...
Bitfinex
Bitfinex general overview delves deep into its operations since its inception in 2012 up to date. It...
FTXUS
Introduction to the FTXUS Trading Platform FTXUS is a type of cryptocurrency derivatives exchange...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Cryptopay.me
Updated, Apr 04, 2020 Cryptopay is a revolution for Bitcoin users. This platform offers its custo...
Mycelium
MyCelium is an application for Mobile that offers many possibilities of security and confidentiality...
Wash Trading Report Slammed by OKEx Who Rank High
A report that came out in March this year stunned the cryptocurrency community as Bitwise, who...
Beechat: Instant Messaging For Cryptocurrency
For those who think that cryptocurrency has reached its peak, it might be time to think again....
Ethereum Review
What Is...
Betting on the Superbowl with Ethereum
This year, cryptocurrency professionals and football fanatics are looking to combine their two...
Does Alibaba accept Bitcoin?
Cryptocurrency payment solutions offer businesses various benefits. Such companies have systems...
Are we going towards a definitive ban on cryptocurrency trading in India?
Following the decision of the Reserve Bank of India (RBI) to ban cryptographic banking services,...
Is Algorand a good investment?
Algorand is one of the newly listed altcoins that shows a lot of potential in the crypto market....
What are the top 10 Altcoins?
Contrary to popular belief, bitcoin is not the only cryptocurrency. New cryptos have been...
VeChain and Mastercard Back Australia-China Supply Chain
VeChain and Mastercard show support for the Asia Pacific Provenance project. The council has...
Beechat: Instant Messaging For Cryptocurrency
For those who think that cryptocurrency has reached its peak, it might be time to think again....
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Cryptopay.me
Updated, Apr 04, 2020 Cryptopay is a revolution for Bitcoin users. This platform offers its custo...
Mycelium
MyCelium is an application for Mobile that offers many possibilities of security and confidentiality...
COMMENTS (0)