Most bitcoin trading volume reported by CoinMarketCap is falsified, according to a report by Bitwise Asset Management. It said although it reports a $6bn daily trading volume the real figure was $273m, 4.5% of the reported total. The report used information from 81 exchanges reporting more than $1m of bitcoin trading a day. Digital Capital Management managing director John Hargrave said the news would be “not positive” if true but added most exchanges had a lower level of potentially fake volume. Meanwhile, Bitcoin Market Journal publisher Tim Enneking said there was a list of exchanges with a good reputation.
Most bitcoin trading volume reported by CoinMarketCap is falsified, according to a report by Bitwise Asset Management. It said although it reports a $6bn daily trading volume the real figure was $273m, 4.5% of the reported total. The report used information from 81 exchanges reporting more than $1m of bitcoin trading a day. Digital Capital Management managing director Tim Enneking said the news would be “not positive” if true but added most exchanges had a lower level of potentially fake volume. Meanwhile, Bitcoin Market Journal publisher John Hargrave said there was a list of exchanges with a good reputation.