Viewbase Issues Findings On Accuracy Of Exchange Volumes

Viewbase Issues Findings On Accuracy Of Exchange Volumes

The crypto market analysts Viewbase have just completed a project to verify the wallet balances and trading volumes held by various cryptocurrency exchanges. This exercise has been done to measure the accuracy of the figures declared by each individual exchange.

False figures have made the headlines numerous times in the past, with Bitfinex being the latest exchange to be accused of number manipulation.

Viewbase has focused solely on Ether balances, and their report claims that the researchers have found “a huge disparity” between what was reported by some exchanges and what was actually found. Part of this disparity is due to the long-standing controversy of reported versus adjusted volume.

According to the report, wallet balances which highly contrast with reported volume figures are an obvious sign of potentially inaccurate data. Viewbase confirmed that adjusting for washed data, exchanges such as Binance, Kraken, Poloniex, and Bittrex are still maintaining a lead over the competition.

However, data from self-declared top exchanges, such as Bitmax, Okex, and HitBTC have been found to be in stark contrast with the findings in the report. Nevertheless, the report does also state that some of these differences can be attributed to Algorithmic Trading Bots and margin trading.

Viewbase is confident that a considerable percentage of the difference is due to wash trading, or, for some of the worst offenders, the outright fabrication of volume.

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