Recently, CoinMarketCap (CMC), arguably the industry’s best-known cryptocurrency market data service, announced an initiative to provide “greater transparency, accountability, and disclosure from projects in the crypto space.” The move followed recent reports on fake volume data and wash trading among cryptocurrency exchanges that were published last month.
Now, all exchanges are required to provide mandatory application programming interface (API) data to CMC by June 2019. Those who fail to do so risk getting delisted from the platform. So, can this brand new scheme cleanse the market from untrustworthy data?
The Tie: 90% of the volume is fake, 75% of crypto exchanges look suspiciousBitwise: 95% of bitcoin trading volume on unregulated exchanges appears to be fakeContinue Reading on Coin Telegraph
