The vast majority of reported bitcoin trading volume is false. How many exchanges provide reliable data?
CoinMarketCap reports approximately $6 billion per day in bitcoin trading volume, but the actual figure is $273 million, or roughly 4.5% of the reported amount, according to Bitwise.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] When conducting its analysis, Bitwise culled data from 81 exchanges, which it selected based on reported bitcoin trading volume. Exchanges that reported less than $1 million worth of volume per day were excluded. as part of its application process.Several analysts weighed in on what the report's findings mean for the broader digital currency industry.
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