Crypto Wash Trading Activities

It has been over 6 weeks since we launched the BTI Verified app to confirm accurate reporting of exchange amounts. In this period of time, we have received cooperation from several exchanges, thus substantially lowering wash trading amounts.

Since the start of 2019, global wash trading has decreased by 35.7% among the real Top-40exchanges. The process of sharing our information accounts has resulted in enhanced mechanisms for shutting down them and detecting wash trading accounts.

Data for personal token and trade clean trading can be seen on our recently established global scrub trade monitoring page.

According to our information, the cleanest exchanges within this time continue to be Upbit, Poloniex, Coinbase and Kraken. With the maximum proportion of wash trading in our real ranking of their Top-40, OKEx and Bibox direct the exchanges on the opposing side. Estimated amounts of those exchanges exceed 75 percent, however, their real volumes (with wash trades eliminated ) still place them in the Top-20 consistently.

Analyzing trade quantity by nations, we discovered that Japan and the United States lead the world in nations together with the weakest exchanges. This can be due to several factors, the key of which is the regulatory and legal standards in these countries. But, more rigorous regulatory frameworks don't always create the weakest exchanges.

By way of example, South Korea has a closely tracked regulatory strategy, as our data shows they have been heavily wash-trading Monero and Dash for the entire year however, police are not taking a closer look in Bithumb. We have these tokens.

New BTI Verified Exchanges

The latest BTI Verified exchanges comprise Binance, Gemini, Bitflyer and Indodax. After hovering through the first few months of 2019 binance is currently under clean trading. Additionally, Bitflyer was added as our data shows them. We found Gemini at the beginning of the year around 12-15 %, but they're currently under 10% too.

We are still confirming any trade which we locate under clean trading. Exchanges that wish to operate with us are sent data reports which flag wash transactions and help compliance teams to set up or upgrade their trade surveillance systems. Exchanges that want to get BTI Verified can contact us here. The qualifications and methodology for your BTI Verified program are available here.

CMC nonetheless lists numerous scam trades in its own Top-10"Adjusted Volume" ranks. Its Top-10 list includes LBank, BW.com, Bit-Z, Coinbene, and OEX, which our data is shows clean trading rates at high levels from 96.9% up to 99.7 percent. This continues to be by trading volume without any basic checks, which motivates trading platforms to report untrue data and rank higher getting more visible to consumers because CMC ranks trades.

According to our calculations you will find 73 currently. Therefore, only about a quarter of the trades on CMC publish information that is truthful about their volume of transactions.

These pictures below show what occurs when a trader tries to sell tokens using a market order on these scam trades. We see 25-50% drops on those long candle wicks (with low market volume) due to the order books being filled up with fake liquidity and trades not executing anywhere near the alleged high predictions. These types of graphs (such as OEX below) with repetitious purchasing patterns of flat volume bars and/or irregular candle formations continue to be viewed on over 70% of trades on CMC's Top-100"Adjusted Volume" rankings.

A number of these exchanges also post ghost orders and transaction executions which never actually occurred to attempt to make natural quantity patterns (seen in the quantity meters of their Lbank chart above ) which are less obvious as the horizontal quantity bars across the board found at the OEX chart.

We launched our email which computes token projects in the area about shady exchanges trying to extract record fees from projects based on fake volumes. Presently , we have over 700 token project emails enrolled, and any others that wish to obtain these notices to get in touch with us are advised by us. As we get word of fresh trades popping 18, We'll continue to send out these alerts.

The exchanges faking their volume that many Penny projects are currently attempting to pull around $100,000 percent list, and have reported to us, comprise P2PB2B and BitMax exchanges.

BitMax PAX/USDT hugely in sections as seen in those images of the 1hr charts, and is obviously trading their highest volume tokens USDC/USDT.

We could once more find the long candle wicks with substantial percentage drops for real orders as well as the repetitious buys of bots in between.

True Volumes of Coins

Tallying data by volume, Bitcoin is still being wash traded by approximately 50%. We locate XRP at 55 percent, Ethereum approximately 75 percent, and Litecoin in 74%.

Classic, Monero, and Dash will be the most significantly wash traded tokens in our Top-25 at over 80% volume that is fake , largely due to OKEx, Bibox, and Bithumb. Maker Dao, Binance Coin, and LEO are the wash traded replicas below 25% each at in the top 25.

Wash trading among the is trending down within the past 90 days. VITE, XDN, and IXT had the most significant boost in clean trading. PIVX, MORE and ETHOS were the best tokens reducing wash trading by over 40 percent in this time period.

The full wash trading figures for all tokens are found on our monitoring page.

Over the previous 90 days, the coin remains USDT, which accounts for 94% of all authentic stable coin trading quantity with clean trades eliminated. Concerning wash trading, USDT gets the highest value one of our Top-40 leading exchanges within the previous 90 days, at 67.3%.

USDC's true quantity is currently the fastest growing stable coin this season, alongside the global clean trading value at under only 7 percent within the past 90 days and has grown into 2nd place. TUSD is approximately 12%, and PAX in 13.7% among our top 40 exchanges.

DAI is showing 30.2% clean trading among our top 40 and is now in 5th set of stable coins.

Although we have made great strides in the past year there's still work to be completed in the cryptocurrency market. Trading volumes outnumber the market image, thereby misleading investors. Bearing this in mind, we recommend traders and investors to look at our website or join to our own information via our sterile API for accurate trade volumes of exchanges and their unique pairs.