Inflated Trading on Crypto Exchanges: Are Fake Volumes Fake News?

[kreslik.news]

In a May post entitled “Chasing fake volume: a crypto-plague”, self-described trader and investor Sylvain Ribes picked a bone with many major crypto exchanges.

“In this piece I will expose why I believe more than $3 billion of all cryptoassets’ volume to be fabricated, and how OKex, #1 exchange rated by volume, is the main offender with up to 93% of its volume being nonexistent,” he wrote. “I’ll endeavour to prove it by analyzing publicly available data.”

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In the piece, Ribes describes a study he conducted in which he collected order books from ... (read more)