BTI Report Shows Kraken and Coinbase Amongst the Cleanest Crypto Exchange
As per the latest market surveillance report by The Blockchain Transparency Institute (BTI) Kraken and Coinbase proves to be the cleanest of all the cryptocurrency exchange in the Industry.
On the 19 September 2019 the institute published its 5th paper under the market surveillance report, to bring to the notice BTI has been publishing such report back since August 2018.
While using its proprietary algorithm BTI proves to provide the best of cryptocurrency market report.
As per there recent states by the institute:
“Since the start of 2019, global wash trading has reduced by 35.7% among the real Top-40 exchanges. The process of sharing our data reports with many of these exchanges has resulted in enhanced mechanisms for detecting wash trading accounts and shutting them down.”
There recent report reveals that amongst all the Crypto exchange out there in the market only few of them have turned out to be clean that includes Kraken, Coinbase, Poloniex, and Upbit.
On the otherhand OKEx and Bibox are the exchanges with the highest wash rates. The exchange also concluded that China and USA still leads the world in terms of Exchange volume while providing the report which says:
“This can be due to several factors, the main of which is the legal and regulatory standards in these countries. However, stricter regulatory frameworks do not always produce the cleanest exchanges.”
Amidst all these a question arises that is 95% of the trading Volume fake?
As reported previously, according to a report made by Bitwise Asset Management on Bitcoin Trading figures that subsequently declared that 95 percent of the Bitcoin Trading volume as seen on CoinMarketCap was mainly due to the wash trading.
What is Wash trading ?
Wash trading is a practice to manipulate the market trading volumes on an exchange, in which sell and buy orders are placed an executed at the same time so as to artificially increase the trading volume thus giving the impression that the asset is more in demand in the market. Although Wash Trading is illegal in regulate exchange platform.
