An analysis of 157 exchanges revealed Bitcoin trading volume may not match up to what the companies claim.
roughly 95% less than those reported, while those operating “with little or no regulatory oversight” — including Binance and Bybit — claimed to have more than double the analyzed volume: $217 billion as opposed to $89 billion.
“More than half of all reported trading volume is likely to be fake or non-economic,” said Pax. “The global daily Bitcoin volume for the industry was $128 billion on June 14. That is 51% less than the $262 billion one would get by taking the sum of self-reported volume from multiple sources.
A new Forbes analysis of 157 crypto exchanges finds that 51% of the daily bitcoin trading volume being reported is likely bogus: by
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