What is Transaction Mining: Way to Boost New Exchange Volumes

Looking at the volumes reported by CoinMarketCap, it is easy to note that some exchanges are achieving extraordinary results. CMC labels those exchanges as “transaction mining” marketplaces, and excludes their data from the overall price and volume statistics for the leading coins. Recent analysis from CryptoExchangeRanks (CER) looks at the patterns on some of the most prominent new exchanges, and sees the effects of transaction mining on volumes.

Transaction mining is a simple mechanism – it rewards those who place trades by reimbursing their trading fees through the issue of new exchange tokens. The chance to receive new tokens to compensate for transaction fees has led to regularly increasing volumes.

The rapid ascent of transaction mining has led the crypto community to believe that new exchanges are perfor…

This article appeared first on Cryptovest

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