Exchanges are still faking their trading activity to misrepresent how liquid they are and thus invite more real users, discovered recent research by FTX cryptocurrency derivatives exchange.
The new research points to the fact that on average, up to 72.2% of volumes could be faked. Alameda Research has partnered with FTX to produce the data. The new arrangement of the current leading exchanges suggests that previous research by Bitwise Asset Management may be exaggerating the fake volumes. Bitwise focused on the fiat market for Bitcoin (BTC) and concluded the data suggested a small, real,...