Wednesday, 07 December 2022



LATEST NEWS Eye & health Check-up camp test organized at Brookfield International School Mann government committed to solve grievances of people state: Kuldeep Singh Dhaliwal Newly appointed Member of CBFC calls on Governor Will shortly solve legitimate demands of Panchayats Secretaries : Kuldeep Singh Dhaliwal MLA, DC and CP flag off two ambulances for stray dogs’ treatment Zonal level conference held on 'National Logistics Policy' Punjab Government To Set Up 20 Dedicated Rural Industrial Hubs In The State: Bhagwant Mann International volunteers Day celebrated in Srinagar My Town My Pride : Visiting officers inspect developmental works at MC Handwara, MC Langate 60th Annual Raising Day of Civil Defense & Home Guards celebrated at Srinagar Director Agriculture Kashmir Chowdhary Mohammad Iqbal chairs meeting of Organic/ Bio fertilizer companies Habitual Timber Smugglers to be booked under PSA : Sachin Kumar Vaishya Two day ‘My Town My Pride’ 2.0 concludes at Hajin My Town My pride 2.0 concludes at Shopian My Town My Pride : DC Shopian Sachin Kumar Vaishya chairs joint meeting of ULB Members, Officers Div Com Kashmir inaugurates CBC’s 5-day Multimedia Exhibition on Amrit Mahotsav at Anantnag Welfare of forest workers top priority with State Government : Lal Chand Kataruchak Step closer to resolve Fazilka bus stand issue: Laljit Singh Bhullar instructs to initiate process of shifting bus stand to transport department Harmony is the strength of India's culture : Rajendra Vishwanath Arlekar Dr. Ambedkar paid tribute on the occasion of Mahaparinirvan Divas in Punjab Vidhan Sabha Punjab Government released Rs. 267 lakh for update of M.R. Homes for patients suffering from psychological problems: Dr. Baljit Kaur


51% of daily Bitcoin volume on crypto exchanges fake : Report

Cryptocurrency, Bitcoin, Ethereum, Crypto Investors, Crypto, Digital Coin

Web Admin

Web Admin

5 Dariya News

New Delhi , 06 Oct 2022

More than 51 per cent of the total Bitcoin trading volume on various crypto exchanges this year is fake amid volatile global economic conditions, a new report has claimed.Bitcoin is the blue chip of cryptocurrency and represents 40 per cent of the total crypto assets outstanding in the new and volatile crypto markets. 

Its market cap is currently at 382.25 billion.According to data provided by niche news publisher, the majority of this fake Bitcoin volume is due to wash trading.Wash trading is illegal, where an asset is bought and sold simultaneously on the same platform to create false liquidity. 

This is often done by bots or spoofing orders."It's difficult to talk about cryptocurrency without talking about Bitcoin. Yet, there is a concern that a large part of the daily traded volume of Bitcoin is fake. This puts into question the legitimacy of exchanges and the reliability of data," said Jonathan Merry, CEO of BanklessTimes.

Another factor contributing to the fake volume is stablecoins such as Tether (USDT).Tether pairs very well with Bitcoin and is often used to buy and sell Bitcoin on exchanges."This results in much volume being generated without any actual Bitcoin changing hands," said the report.

According to the report, faking trading volume can be a way for exchanges to attract new customers.By appearing to be more popular than they actually are, exchanges can trick investors into thinking there is more activity and liquidity on their platform.

Another reason people might engage in wash trading is to prop up the price of a particular asset, according to the report.By buying and selling the asset simultaneously, they can create the illusion of demand and drive up the price. 

This can be done for personal gain or artificially inflate an asset's price before selling it."Investors should be wary of exchanges that report false figures. You must do your research and only use exchanges you trust," the report suggested.


Tags: Cryptocurrency , Bitcoin , Ethereum , Crypto Investors , Crypto , Digital Coin



related news




Photo Gallery



Video Gallery



5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2022 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD