• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
House Of Cards? Some Question Claims of Big Exchange Trade Volumes

House of Cards? Trade Volume of Big Exchanges Questioned

Kevin O’Brien
by Kevin O’Brien
6 years ago
·
Posted in News, Bitcoin Exchange, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Amid market turbulence and general cryptocurrency uncertainty, some speculate fast-growing exchanges may be manipulating — or outright lying about — their trade volumes.


Questions about inflated exchange volume have long plagued the cryptocurrency world.

Outcry is now intensifying as once-unknown exchanges are enjoying seemingly smashing success in the midst of market slowdowns and uncertainty.

Reporters from Bloomberg recently wrote about the curious case of the BitForex exchange. Once relegated to obscurity, the platform has now been busy reporting about days where transactions exceed $5 billion dollars.

BitForex Vice President Garret Jin said the trading surge was just due to its transaction mining system, a practice some say is just a set up to inflationary wash trading activity.

Overall trading volume across the industry is expected to grow by 50% in 2019, but some are starting to wave a red flag while scrutinizing the alleged astronomical growth of once-small exchanges.

Scattered discourse on this topic has swelled in the past few months as more people in the industry believe exchanges are dramatically overstating their trading volume. This is done by offering incentives to inflate, or by simply turning a blind eye to blatant abuse on exchange platforms.

Allegations Everywhere

Allegations about fake trading volume are certainly not new. Just a few days ago, the popular exchange Coinbase fired back at New York Attorney General Barbara D. Underwood regarding its trade volume.

Bitcoinist reported that Attorney General Underwood alleged Coinbase “[…] disclosed that almost twenty percent of executed volume on its platform was attributable to its own trading.” Coinbase Chief Policy Officer Mike Lempres wrote:

Coinbase does not trade for the benefit of the company on a proprietary basis

In a March Medium post, trader and investor Sylvian Ribes noted his belief that the volume of fabricated cryptoassets was more than $3 billion dollars.

Ribes specifically called out OKEx, claiming 94% of its volume was nonexistent after allegedly reviewing publicly available data.

Others like EverMarkets Exchange CEO Jim Bai, see the problem of fraudulent volumes as just an ecosystem immaturity issue, asserting how legitimate exchanges will eventually pop up that

Provide enough real, beneficial structural incentives so that people won’t be misled into trading on questionable venues.

A Secret Brought To Light?

In August, the Blockchain Transparency Institute released a sweeping report alleging that 70% of the top 100 exchanges on sites like CoinMarketCap are “likely engaging in wash trading by at least 3x their stated volume.”

There are people who see these types of shady trading practices an instance of “everyone’s doing it, so I’m doing it,” according to Neil Woodfine of Clavestone.

According to Woodfine and Eterna Capital’s Asim Ahmad, inflated volumes from exchanges are likely due to automatic high-frequency trading strategies — a practice that has been regarded as concerning by the New York Attorney General.

How big of an issue do you think exaggerated or fraudulent exchange trade volumes are? Let us know your thoughts in the comments below!


Images courtesy of Bitcoinist archives, Shutterstock.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Kevin O’Brien

Kevin O’Brien

Follow

Full Profile

Related Posts

solana-analyse-tendance-leviers-techniques

Solana en route vers les 300 $ : analyse de la tendance des leviers techniques

1 day ago
stablecoins

Yuan-Pegged Stablecoins On The Horizon As Beijing Rethinks Policy

1 week ago
Bitcoin

Strategy’s Bitcoin Gameplan Faces Dark Outlook As Expert Warns Of ‘Spiral Of Doom’

1 week ago
Bitcoin

Bitcoin Strategist Sounds Alarm On Rising Violent Attacks In 2025

3 weeks ago
Trump

Eric Trump Says ETH Shorts ‘Got Smoked’ As Bitcoin, Ethereum Surge

3 weeks ago
XRP

XRP Investors Targeted: Ripple Flags Surge In YouTube Scams

1 month ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Top 5 Most Profitable ASIC Miners in 2025: ROI Comparison

    12 hours ago
  • Bitget to Transfer 440 Million BGB to Morph Foundation...

    13 hours ago
  • From Institutional to Individual Investors: How XRP and...

    13 hours ago
  • Despite XRP price fluctuations, Mint Miner lets holders...

    14 hours ago
  • CryptoMiningFirm Launches First XRP, BTC Mobile App: Earn...

    16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.