The Blockchain Transparency Institute has released its December Exchange Volumes Report, delving deeper than ever before into suspected wash trading. The conclusions paint a rather damning picture. Only 2 of CoinMarketCap’s top 25 BTC pairs aren’t massively inflating actual volume.
As part of the report, the Institute used its algorithm to calculate the true volume of the CMC top 25 Bitcoin trading pairs. It discovered that the vast majority of these have an actual volume of under 1% of that reported on CoinMarketCap.