According to a study by the Blockchain Transparency Institute (BTI), only two of the twenty-five largest cryptobirds artificially do not increase trading volume in pairs with Bitcoin.
BTI’s own ranking of sites based on actual daily trading volume, rather than the data that the CoinMarketCap exchanges provide, was led by Binance . In the same rating of CMC at the time of the study, the exchange ranked only third.
Behind Binance in the rating from BTI are Bitfinex and Upbit (10th and 15th places at CMC, respectively). But, for example, the eighth in real daily trading volume was Poloniex , which, according to CoinMarketCap, should be in 58th place on this indicator.
Using its own methodology and tools that are not disclosed, BTI discovered four different cryptocurrency bot strategies that are used by exchanges to increase trading volume.
For the study, the leading trading pairs with Bitcoin from 25 exchanges were taken, and it turned out that only Binance and Bitfinex had a trading volume of 100% corresponding to that stated at CMC. In pairs with BTC CryptoBirge HitBTC and Huobi real transactions turned out to be 25%, while for many this figure did not exceed 1%.
According to BTI, fees for listing tokens have become a strong source of income for crypto-burgers. On average, the fee for the transfer of a token on the platform is about $ 50,000, the institute is aware of payments from 5 to 75 BTC. According to the researchers, 50 of the leading cryptobirds, which account for about 95% of the total trading volume, received about $ 100 million listing fees this year.
Earlier, the Blockchain Transparency Institute (BTI) came to the conclusion that more than 70 of the top 100 cryptographic services tracked by the CoinMarketCap service are involved in laundering funds obtained by illegal means.
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