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Few Big Exchanges Continue to Report Fake Volumes in 2019: Chainalysis

Published 11/21/2019, 04:25 PM
Updated 11/21/2019, 06:01 PM
Few Big Exchanges Continue to Report Fake Volumes in 2019: Chainalysis

Large crypto exchanges appear to have stopped misreporting their trading volumes in 2019, a new study by Chainalysis says. According to the New York-based blockchain analytics firm, there are still some crypto exchanges including Bitforex that likely report fake trading volumes to simulate greater market activity and liquidity. Chinalysis posted the study on its blog on Nov. 15.

In the study, Chinalysis analyzed the top 10 cryptocurrency exchanges, known as the “Bitwise 10,” which were reportedly considered the only large exchanges that reported their actual volumes. Those exchanges include Binance, Bitfinex, Kraken, Bitstamp, Coinbase, BitFlyer, Gemini, itBit, Bittrex, and Poloniex.

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