Anonymous, a group of researchers CryptoIntegrity published a report, according to which 86% of transactions and 88% of the volume of trading on cryptocurrency exchanges are created artificially.
Interestingly, the authors of the report completely anonymous. Even the representative CryptoIntegrity communicating with the press, remains unknown. However, he said that the composition of the group there are volunteers from Europe and Asia. Perhaps the anonymity of the team is not devoid of meaning, because the report covers the major cryptocurrency exchanges.
“Our non-profit project aimed at the detection of market manipulations and anomalies in the 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 the liquidity in the order book and trading volume that tell of the exchange. The “good exchanges” correlation, according to analysts, is positive. Representatives CryptoIntegrity said that bots are increasing the volume of transactions, are reluctant to trade with real market participants, and therefore a negative correlation.
Also CryptoIntegrity representatives stressed that their study based on market data of a low level. Moreover, they put the analysis on GitHub so that Internet users will be able to view and evaluate the algorithm.
At the end of last year, Blockchain Transparency Institute has published its annual “Report on trading volumes of stock exchanges”. In the report, BTI argues that only two cryptocurrency exchanges out of the TOP 25 marketplaces not to overstate the volumes of their trades.