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The "Report on trading volumes" of December 2018 was recently published by the Blockchain Transparency Institute (ITV). And the report strongly states that out of twenty-five best cryptocurrant exchanges, only two of them report their accurate trade volume.
Who to trust, BTI or Coinmarketcap?
BTI has published its December 2018 report which firmly supports that only two of the largest cryptocurrency exchanges Binance and Bitfinex represented their original trading volumes. The Coinmarketcap report states that Binance is in third place among the world rankings, while Bitfinex is in 21st place. But the estimates reflect something else in the ITC report.
In addition, the ITC report placed Upbit in third place, in addition to the fact that Coinmarketcap maintained 39th place. The ranking is followed by Kraken, Coinbase, Bitstamp, Bitflyer, Poloneix, Bittrex and Gate.io, who respectively live at 27th, 34th, 41st, 54th, 62nd, 50th and 55th in the report published by Coinmarketcap .
Therefore, as per the report published by BTI,
"Only one of the first twenty exchanges classified by Coinmarketcap should be placed in the top 10. Apart from this exchange, the rest of them do not even come close to it and are falsely placed"
This latest report states that only 1% of the trade volume was actually released from the first 25 classified cryptographic exchanges.
Through this part, the report has raised several questions regarding the authenticity of exchanges and raises a wide question mark on their rankings. Being genuine is certainly not something that most of the trade is while releasing their business volumes.
Summary
Item name
Main exchanges of cryptocurrencies reporting false trade volume data – BTI Report
Description
The "Report on trading volumes" of December 2018 was recently published by the Blockchain Transparency Institute (ITV). And the report strongly states that out of twenty-five best cryptocurrant exchanges, only two of them report their accurate trade volume.
Author
Neha Gaur
Publisher name
Coingape
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