23 September, 2019
Blockchain Transparency Institute (BTI), an analytical company has released its new study covering the cryptocurrency market with Kraken, Poloniex, Upbit, and Coinbase to be considered the most transparent platforms. At the same time, , only 27 sites out of the 100 largest exchanges show real trading volumes.
The highest dummy data were found on OKEx and Bibox (above 75%), however, despite the “frankly fake volumes”, these exchanges are in the Top 20 by platform trading capitalization. The report also notes that the geographically most reliable data is provided by exchanges from the USA and Japan, probably due to the regulatory features of these countries.
Bithumb, according to the report, the whole current year provides fake information on volumes of confidential coins Dash and Monero, overstating the data by 90%!
The reliability of CoinMarketCap was also questioned - the service displays exchanges such as LBank, BW.com, Bit-Z, Coinbene, and OEX among the largest platforms, while according to BTI, they falsify volumes from 96.9% to 99.7 %
It is also noted that the fakest data on average are data on Ethereum Classic, Monero and Dash (80%), followed by Ethereum - 75%, Litecoin - 74%, Ripple - 55%, Bitcoin - 50%.