Bitcoin represents 40% of the $1 trillion outstanding crypto assets, according to Forbes’ director of data and analytics. “An estimated 46 million adult Americans already own it according to New York Digital Investment Group…”

“But can you trust what your crypto exchange or e-brokerage reports about trading in the most important digital currency?”
One of the most common criticisms of bitcoin is pervasive wash trading (a form of fake volume) and poor surveillance across exchanges. The U.S. Commodity Futures Trading Commission defines wash trading as “entering into, or purporting to enter into, transactions to give the appearance that purchases and sales have been made, without incurring market risk or changing the trader’s market position.” The reason why some traders engage in wash trading is to inflate the trading volume of an asset to give the appearance of rising popularity. In some cases trading bots execute these wash trades in tokens, increasing

  • https://news.slashdot.org/story/22/08/28/2158206/are-more-than-half-of-all-bitcoin-trades-fake?utm_source=rss1.0mainlinkanon&utm_medium=feed
  • 1661742927
  • post author: EditorDavid

Read the original story