An anonymous group of researchers CryptoIntegrity published a report according to which 86% of transactions and 88% of the trading volume on cryptocurrency exchanges are created artificially.
Interestingly, the authors of the report are completely anonymous. Even a spokesperson for CryptoIntegrity is still unknown. However, he said that in the group are volunteers from Europe and Asia. Perhaps the anonymity of the team is not devoid of meaning, because the report affects even the largest cryptocurrency exchanges.
“Our non-profit project is aimed at detecting market manipulations and anomalies in cryptocurrency markets, increasing the transparency and integrity of the industry. We are a team of enthusiasts with experience in finance, algorithmic trading, computer science and data, ”said the representative of the group.
The researchers noted a negative correlation between liquidity in the book of orders and the volume of trades reported by the stock exchange. At the same time on the "good markets" correlation, according to analysts, is positive. Representatives of CryptoIntegrity said that bots that increase the volume of transactions, reluctant to trade with real market participants, and therefore there is a negative correlation.
Also, representatives of CryptoIntegrity stressed that their research is based on low-level market data. Moreover, they posted an analysis algorithm on GitHub, so that Internet users will be able to view and evaluate the algorithm.
At the end of last year, the Blockchain Transparency Institute published its annual “Exchange Volume Trading Report”. In the report, BTI claims that only two cryptocurrency exchanges from the TOP-25 trading platforms do not overstate their trading volumes.
