All but 2 of the 25 best trading volumes are accurate

Report: BTI reveals registration of inaccurate trading volume among the top 25 Crypto Exchange

The Blockchain Transparency Institute recently destroyed its annual "Exchange Volume Report" this December 2018. The BTI report notes that only two cryptographic exchanges, among the top 25, accurately report their trading volumes. The apparent defect sees the cryptocurrency exchanges say exaggerated volume figures that are completely different from the amount reported by CoinMarketCap.

The relationship further enhances the long-term belief in the trade in handwashing. Estimates indicate that the defect includes 99 percent of the volume within 12 of the 25 most important cryptocurrency couplings reported on the market.

The discoveries

According to the BTI research, only two major exchanges based on the volume of trade do not distort the volume of trade through the wash-trading. Negligence involves the manipulation of the market by investors who create simultaneous exchanges to develop artificial and misleading activities on the market.

BTI has found Binance and Bitfinex, as the only exchanges without an apparent manipulation of commercial volumes. CoinMarketCap classifies Binance as the third platform for 24-hour volume, with the exchange of Bitfinex in 21st place.

In addition, the BTI ratio ranks Upbit as the third largest exchange based on volume. Surprisingly, CoinMarketCap classifies the trading platform as 39th on its list of platforms. The Upbit platform is followed by Kraken (27TH), Bitstamp (41st), Bitflyer (54th), Poloniex (62th), Bittrex (50th) and Gate.io (55th). The Okex platform also turned out to be involved in the washing business in "almost all of its top 30 tokens on offer". According to estimates, the ITV concludes that only one of the top 20 exchanges per reported volume should be among the top 10.

Wash plenty

The BTI volume classification report also analyzes the presumed volume of the 25 most important cryptocurrency pairs with results indicating Binance and Bitfinex showing their legitimate business volumes. Further insights from ITV estimate that the 80% of the amount reported in the first 25b pairs of cryptocurrencies includes wash-trading. Among the pairings, BTI found that 99% of 12 pairs of trading activities were carried out through wash-trading. Coinbene BTC / USDT, Digifinex BTC / USDT, Oex's ETH / BTC pair and Coinbit's BTC / KRW pair were just some of the trading pairs found with wash-trading traces.

The ITC estimates also indicate that only 1% of the trade volume among the 25 best couplings was hosted on Ooobtc, Rightbtc, Coinsbank Dobi, Simex, Bcex and Coinzest as effectively valid data.

Correct classifications

BTI's research concludes that Binance's BTC / USDT pairing is perhaps the most traded cryptocurrency pair, despite its position in Coinmarketcap. Bitfinex's fourth-place BTC / UUSD pair ranks second in volume with Coinbase's BTC / USD coin pair. The pair of BTC / JPY at the forty-fourth classified by Bitflyer and the BTC / USD pair at the 47th place of Kraken are the last of the top five classified according to the correct volume.

Overall, the BTI Trading Volume report reveals a rather worrying trend between token models and manipulative encryption exchanges. The BTI company warns token projects on the visible role they are playing in paying exchanges to engage in the washing trade. The argument is that the tactic is becoming a money cow for exchanges that try to entice cryptocurrency projects to pay their exorbitant fees for listing.