Press release content from ACCESSWIRE. The AP news staff was not involved in its creation.

Press release content from ACCESSWIRE. The AP news staff was not involved in its creation.

BTI launches cryptocurrency exchange volume verification service as a self-regulatory initiative to clean up the crypto space. The Blockchain Transparency Institute (BTI) has named an initial 9 exchanges as BTI Verified including Kraken, Coinbase, Poloniex, Bittrex, Liquid, Gate, Bitso, and Lykke

WEST PALM BEACH, FL / ACCESSWIRE / April 10, 2019 / The Blockchain Transparency Institute (BTI) has named an initial 9 exchanges as BTI Verified including Kraken, Coinbase, Poloniex, Bittrex, Liquid, Gate, Bitso, and Lykke. The largest exchanges in the USA, Japan, South Korea, and Mexico are represented in the initial launch.

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This verification is awarded to exchanges with less than 10% total wash traded volume as discovered by BTI’s wash trade algorithms. Over 26 data points are analyzed before rating a trade as clean or a wash trade via the exchange’s public API.

BTI has also launched a clean data site which will for the first time provide accurate data to the space with wash traded volumes removed. An initial top 40 exchanges are on their rankings list along with over 500 tokens.

Some exchanges with high wash trading volumes still have a large amount of real volume, so they are included on the list including OKEx, Bibox, and Bithumb, but who all have over 90% wash traded volumes for the past 30 days.

Also included in these rankings are unverified exchanges which either have greater than 10% wash traded volume over the past 30 days, but under 20%, or need further data verified by BTI. Over 50% of the exchanges on Coinmarketcap have been disqualified for the service due to over 99%+ fake volumes, including 35 of the CMC top 50 exchanges.

Tokens which have made the new site include any token on an exchange on the top 40 list which is not wash trading their volumes over 25%. BTI has also developed a table of the most wash traded tokens on the site and further research into true stable coin volumes.

GUSD is the most wash traded stable coin with only 3% real volume, while Tron and Ethereum classic are the top wash traded tokens in the top 25 marketcap coins on BTI’s initial rankings, with only 16% real volume.

Over the past 4 months, BTI has also provided crypto projects with over 200 full exchange reports which have likely saved them hundreds of BTC in listing fees to scam exchanges. These funds can instead be used on further development for the space.

BTI has been 100% funded by the proceeds from these reports in building out and improving their wash trade algorithms on individual pairs. BTI has also used these funds to build out the live updating data site with clean data.

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Data reports are also being provided to any exchange to use this data in the form of trade execution times and sizes to match them to accounts suspected of wash trading. Many accounts have been closed-down just over the past 2 months from these reports already.

The full 2,500-word report can be found here .

Contact Info:

Name: Marco

Email: Send Email

Organization: Blockchain Transparency Institute

Website: http://www.bti.live/

SOURCE: Blockchain Transparency Institute