National Bureau of Economic Research: Over 70% of trading volume on centralized cryptocurrency exchanges is wash trading

2022-12-30 10:12:22

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According to ChainCatcher news, as reported by Cointelegraph, the "wash trading" paper released by the National Bureau of Economic Research (NBER) in the United States points out that after studying 29 centralized cryptocurrency exchanges, it was found that on average over 70% of the trading volume on the platforms is wash trading, with 12 "secondary exchanges" even reaching 80% of total trading volume in wash trading. Researchers claim that wash trading has short-term motives and often affects the rankings of exchanges on data and statistics websites like CoinMarketCap, as well as the short-term prices of cryptocurrencies.

The exchanges studied in the paper include: Bitstamp, Coinbase, Gemini, Binance, Bittrex, Bitfinex, HitBTC, Huobi, KuCoin, Liquid, Okex, Poloniex, and Zb. (source link)

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