Wash Trading Persists on Most Exchanges, BTI Report Says

The Blockchain Transparency Institute (BTI) has published its 2018 Exchange Volume Report, which reveals that most marketplaces hold a form of faked volumes, or what is known as wash trading. The findings highlight the fact that the highly unregulated cryptocurrency exchanges fail to offer an accurate price discovery mechanism.

“Based on this data, over 80% of the CMC top 25 BTC pairs volume is wash traded. These exchanges continue to use these strategies as a business model to steal money from aspiring token projects,” BTI points out.

Unlike previous reports, which only tracked general activity and site visits, this one explores trading pairs where there are suspicions of wash trading and faked volumes. The report also notes visible bot usage strategies on some markets.

OKEx, one of the leading Chi…

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