The BTI (Blockchain Transparency Institute) has released the April 2019 market surveillance report. In this article we will mainly report the data of the exchanges dealing with Lisk.

BTI team has developed new algorithms that can detect the real accounts doing the wash trading and in the last months they worked together with various exchanges to test them in real markets.



In addition, they launched the BTI Verified self-regulatory initiative that certifies real volumes and provides services for exchanges that want to integrate their algorithms in order to avoid manipulation in their own platform. To be considered a BTI verified exchange, there must be less than 10% wash trading on the exchange over a 30 day period, with no single pair over 15% wash trading.

It was found that 17 of the CMC Top 25 exchanges were over 99% fake volumes, with many up to 99.5%, including 35 of the top 50 adjusted volume rankings. Among these we note HitBtc, with a real volume percentage of only 7%, and Huobi with a value of 47%.

Moving on to cleaner exchanges, the analysis showed that Binance is not currently verified on their list as the overall score is over 10% of wash trading. However, Binance is around 85-90% clean depending on the day. Market makers and bots are active on around 30 pairs, that present wash trading between 25% and 75% of their total volume.

You can find the complete list of the analyzed exchanges here.

Considering the top wash traded coin ranking, Lisk has 38% of fake volume, which is not bad compared to Ethereum classic and Tron which have a wash trading rate of 85%. The complete list can be found here.

The report also indicates which techniques are most used by exchanges to try to deceive investors. Among these we can find buying twitter followers and likes, filling up fake order books, mirror wash trading the largest exchanges with real volume and trying to disguise their wash trading using various bot settings to not affect price.

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