Over 50% Of All BTC Trade Volumes On Exchanges Are Fake – Forbes

Over 50% Of All BTC Trade Volumes On Exchanges Are Fake – Forbes
фото показано с : zycrypto.com

2022-8-30 20:59

Bitcoin dominates the digital assets markets, being the firstborn crypto and the most publicised. It accounts for over 40% of the global cryptocurrency market capitalisation.

While Bitcoin trade volumes are expected to outpace those of other cryptocurrencies considerably, recent data shows these values might have been blown out of proportion.

Global daily BTC trade volume sits at $128B—51% less than the purported $262B

Forbes extensively analysed cryptocurrency exchanges and released a corresponding report on Friday. The report suggests that 51% of the daily Bitcoin trade volumes reported on exchanges are likely fake or non-economic. Forbes got the data from analyzing up to 157 crypto exchanges across several countries.

The analysis valued the global daily BTC trade volume at an estimated $128B on June 14. This value is $134B less than the $262B trade volume reported by the exchanges, marking a 51% decrease. 

Additionally, the report assessed daily Bitcoin trading activity within the exchanges. Per the report, the top 21 exchanges see $1B+ in daily trading activity amongst spot, futures and perpetual contracts. On the other hand, 33 other exchanges record anywhere between $200M and $999M in daily trading activity.

Binance leads in global exchanges with a 27% market share

Amongst the top crypto exchanges, Binance emerged as the leading firm, which is expected. The global crypto exchange, with headquarters in Cayman Islands and Seychelles, takes a massive chunk of the global market share, sitting at 27%. FTX followed closely. 

While Binance, FTX and OKX secure top positions concerning spot markets, derivatives marketplace CME Group outpaces all other exchanges when it concerns futures trading. The American markets company prides itself on being the world’s largest derivatives marketplace.

“The biggest problem areas regarding fake volume are firms that tout big volume but operate with little or no regulatory oversight that would make their figures more credible,” the report said. It noted that Binance, MEXC Global and Bybit are among these companies.

Notwithstanding, the report acknowledged that smaller exchanges are also in the habit of overestimations. The analysis recorded Bitcoin trading volumes of $89B in these smaller firms—over 58% less than the $217B claim. In addition, the report also discovered that about 573 million individuals visit exchanges in a month.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Safe Trade Coin (XSTC) на Currencies.ru

$ 9.68E-5 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $9.68E-5 - H: $9.68E-5
Капитализация $31.642k Rank 99999
Доступно / Всего 326.829m XSTC

trade bitcoin global volumes btc cryptocurrencies data

Источник: zycrypto.com

trade bitcoin → Результатов: 126


Multi-level Marketing Promoter of Bitcoin Funding Team and My7Network Will Settle With FTC

The United States Federal Trade Commission (FTC) has agreed to settle the charges it filed in 2018 against a pyramid scheme that involved 4 individuals. As part of the settlement, the promoters of recruitment-based cryptocurrency schemes are permanently banned from operating or participating in any multi-level marketing program. Additionally, they are supposed to pay a […]

2019-8-25 18:05


Bitcoin Set For Explosive Surge As Trump Announces New Measures In Escalated U.S-China Trade War

The U.S-China trade war continues to be the gift that keeps on giving. And in the coming days, it is set to give Bitcoin the fuel it needs to get back to its year highs. The trade war is expected to get heated up in the coming days and this is just the rocket fuel […] The post Bitcoin Set For Explosive Surge As Trump Announces New Measures In Escalated U.S-China Trade War appeared first on ZyCrypto.

2019-8-24 16:08


Circle’s Jeremy Allaire claims Bitcoin’s growing adoption will drive individuals to convert long-term wealth into digital assets

Trade wars are usually good news for non-sovereign, highly secure digital stores of value. With Bitcoin [BTC] registering continuous growth in adoption rate, Circle CEO Jeremy Allaire pictures a scenario where individuals will convert a part of their long-term investment capital into digital assets.

2019-8-23 02:30


Wondering Why Bitcoin Hasn’t Returned To $13,000 Mark Yet? Here Are The Main Reasons

Despite numerous analysts and crypto worshippers predicting that Bitcoin will surpass the $13,000 mark, the king coin has continued to trade around the $10,000 mark and here are some reasons why. Ponzi Scheme Theory According to Primitive Crypto founding partner Dovey Wan, the Ponzi scheme is responsible for crashing the crypto industry. On JUly 14 […]

2019-8-19 04:57


Фото:

Bakkt Wins Regulatory Approval to Launch Bitcoin Futures

Bakkt has won approval from US regulators to trade physically-settled bitcoin futures, a move many believe would legitimize the cryptocurrency industry before institutional investors. The Intercontinental Exchange’s subsidiary announced on Friday that the New York Department of Financial Services (NYDFS) had given them clearance to acquire a New York state trust charter.

2019-8-17 23:20


Bitcoin flies high in the face of Argentina’s white flag

The bigger they are, the harder they fall. In the financial world, massive fluctuations owing to the locus of control shifting outwards is common. Political tensions, trade wars, unexpected economic announcements, and even natural calamities have sent market indexes the world over into a frenzy, with analysts mapping a market symptom on one side of […] The post Bitcoin flies high in the face of Argentina’s white flag appeared first on AMBCrypto.

2019-8-16 18:30


Hedge Fund Manager, Mahmudov Says Bitcoin Is Headed To $100k After Current Accumulation Phase

Bitcoin (BTC) has been on a slow downswing since July. At press time, bitcoin is down by 4.7% to trade at $10,854.05 as per CoinGecko. However, a former analyst at Goldman Sachs and now the Chief Information Officer (CIO) at Adaptive Capital, Murad Mahmudov, believes it’s time to look beyond this sideways trading action and […] The post Hedge Fund Manager, Mahmudov Says Bitcoin Is Headed To $100k After Current Accumulation Phase appeared first on ZyCrypto.

2019-8-14 23:32


Currency Wars Bullish for Bitcoin Price? Optimistic Investor Thinks So

While Bitcoin (BTC) in the wake of the Great Recession, the cryptocurrency has never lived through a macroeconomic imbroglio or geopolitical spats. Related Reading: Goldman Sachs Predicts US-China Trade War to Continue into 2020, Will It Benefit Bitcoin? But, ten years after the recession that shocked the world, Bitcoin is about to experience all the.

2019-8-13 12:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

MrBeast faces allegations of crypto insider trading

MrBeast allegedly made $23 million from insider trading in crypto projects. He reportedly used 50 wallets to promote and dump tokens, misleading investors. Evidence includes a publicly shared Ethereum address linked to $13 million in trades.

Bitrue gets Virtual Asset Service Provider approval in Lithuania

Bitrue has received VASP approval in Lithuania to offer crypto exchange services. The company aims for EU expansion by pursuing the Markets in Crypto-Assets license. Lithuania plans regulatory changes to reduce the presence of crypto firms in the country.

Bitpanda eyeing a potential initial public offering (IPO)

Bitpanda is considering a potential IPO in Frankfurt, backed by Peter Thiel. The company reported €100 million in Q1 2024 revenue, rebounding from previous losses. Discussions are ongoing, with a possible timeline for the IPO set for 2025.