New Report Says Bitcoin Daily Trading Volumes Are Fake, So What’s The Real Nu...
Bitcoin trading volumes have always surpassed expectations in the past. Last week, celebrations filled the community as the digital asset had reportedly seen more than $1 trillion transacted on the network so far. However, a new report claims that the trading volumes reported by exchanges may be inflated. The main number, they predict, to be much lower than what is being reported, especially on a daily basis. Reported Bitcoin Volume Fake A new analysis report from Forbes has come back with the conclusion that more than half of bitcoin’s daily reported volumes are fake. The report focuses....
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The daily bitcoin trading volumes come out into billions of dollars every day, with hundreds of thousands of daily transactions being carried out. It is one of the reasons why bitcoin draws the most investors, given such high trading volume and good depth across all exchanges. However, some on-chain analyzers have been diving into the blockchain to explore the daily BTC volume, and the findings of this study have been alarming. More Than 50% Fake Volume Mostly, in the present market, there is always some amount of volume for digital assets that are actually fake. These fake trading volumes....
According to a Forbes’ report, more than half of daily trading volumes for Bitcoin, the largest cryptocurrency in the world, are false. Being the pioneer cryptocurrency and the most well-known, Bitcoin rules the markets for digital assets. More than 40% of the market capitalization of all cryptocurrencies are held by it. Although it is anticipated […]
Today, China's exchanges report 98% of global volume, a figure that would suggest a huge dominance by its markets. Unfortunately, we know that most of this volume is fake. Unlike the rest of the world, China-based exchanges are unique in that they do not charge fees on bitcoin trades. Instead they make money via withdrawal charges out of the exchange. Further, these fees reduce as your trading volume increases, so this incentivizes traders to bolster this figure by buying and selling from themselves at zero cost. Still, there's a ocean of data coming from the markets, and they hold hidden....
A Forbes analysis of 157 exchanges revealed Bitcoin trading volume may not match up to what the companies claim, particularly if they're small or unregulated. Bitcoin trading data from 157 exchanges reportedly did not match up to what companies claimed.According to an Aug. 26 report from Forbes, Javier Pax of the news outlet’s digital asset arm said there was a mismatch between the Bitcoin (BTC) trading data reported by crypto exchanges and the actual numbers. The Forbes contributor found that a group of small exchanges had BTC trading volumes roughly 95% less than those reported, while....
Bitcoin exchange trade volumes have soared over the past week as the bitcoin price hit its high for the year. Exchanges are reporting some of the highest volumes seen this year. Over the counter (OTC) trading has also taken off with over three times normal trading volumes according to Genesis Trading. ItBit's Director of Trading Bobby Cho released the trading desk's October 2015 report yesterday showing monthly trading volumes up 42 percent over September: itBit Bitcoin OTC Market Data Summary for October 2015. Total Bitcoin Volume Traded: 41,328 XBT. Total USD Amount Traded: $10.1....