Cryptocurrencies
Report Says Most Crypto Trading Volume Is Suspicious
- Startup the Tie compared exchange volume with web traffic
- Firm says 75% of reported activity was double what is expected
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Most of the trading volume on the world’s largest cryptocurrency exchanges is questionable, according to a report from a startup that revisits one of the recurring concerns in the decade-old digital-asset market.
By analyzing internet traffic on the top 100 crypto exchanges’ websites, the Tie determined that 75 percent of the exchanges reported trading volumes that were more than double expected. Nearly 90 percent of the exchanges’ volume was suspect. Website viewership metrics don’t take into account application programming interface or usage of mobile apps, for example, the researchers cautioned.