Crypto Integrity specialists spoke about the so-called “washing trade”, due to which some cryptocurrency exchanges artificially wind daily trading volumes. In particular, among such sites, experts called OKEx, Bit-Z, CoinBene.
According to Crypto Integrity, the following trading mechanisms are used for artificially cheating volumes:
Transactions in the spread without limit orders. The company simply declares transactions that do not appear in the history. This tool is most often used by young cryptobirds. It is known that this mechanism involves OKEx, Bit-Z, CoinTiger, etc.
Spread trades with short limit orders. They are shown for a split second, which makes it impossible to fix them for any trader (if not to talk about automated bots). Such orders have been seen on CoinBene, Bitmart and IDAX.
Transactions, when trading takes place with bid-ask. In this case, traders are trying to entangle traces, placing orders of different sizes and with different life expectancy. OKEx - the only exchange that uses the most complex form of washing.
Crypto Integrity experts are confident that at least seven exchanges from the top ten CoinMarketCap exaggerate their performance.
