Three Ways to Spot Crypto Exchanges with Fake Volume
By Norm Bond on ALTCOIN MAGAZINE
All the rage currently is around the proposal by Bitwise to the US SEC for approval of a bitcoin exchange traded fund (ETF). The 227-page document included the “first-of-its-kind” analysis of order book data from 81 crypto exchanges. Yikes! The results were stunning.
One nugget revealed was “95% of reported volume is fake”.
If you’re a fat cat institutional investor like Jamie Dimon or a crypto whale like the Winklevoss Twins with too many bitcoins to count then you’re probably like this is old AF.
But what if you’re a regular investor buying crypto and waiting anxiously to see the coins “get listed on an exchange”? It may be time for you to drop some new questions in the subreddit or Telegram group.
On Twitter the news turned nasty as Binance CEO CZ blocked Mike Dudas of The Block (oh the irony) who he felt was not being “positive”.
