{"id":66377,"date":"2022-08-27T16:51:16","date_gmt":"2022-08-27T13:51:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66377"},"modified":"2025-09-07T00:59:36","modified_gmt":"2025-09-06T21:59:36","slug":"forbes-more-than-half-of-bitcoin-trades-on-exchanges-are-fake","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/forbes-more-than-half-of-bitcoin-trades-on-exchanges-are-fake\/","title":{"rendered":"Forbes: More than half of Bitcoin trades on exchanges are fake"},"content":{"rendered":"<p>More than half of Bitcoin trades conducted on centralized platforms are economically meaningless and are fake. This was stated by analysts <a href=\\\"https:\/\/www.forbes.com\/sites\/javierpaz\/2022\/08\/26\/more-than-half-of-all-bitcoin-trades-are-fake\/?sh=4b2dc0c46681&#038;utm_source=TWITTER&#038;utm_medium=social&#038;utm_content=7486657969&#038;utm_campaign=sprinklrForbesCrypto\\\">Forbes<\/a> in the study.<\/p>\n<p>\\n\\n<\/p>\n<p>The publication&#8217;s specialists studied trading activity across 157 cryptocurrency exchanges. To assess the indicators they used regulator license information, data from services such as Messari and CoinGecko, network traffic data from SimilarWeb, and also conducted \u201cdozens\u201d of interviews with executives of large companies.<\/p>\n<p>\\n\\n<\/p>\n<p>Analysts concluded that as of June 14, 2022, the global daily trading volume in Bitcoin pairs stood at $128 billion. This is 51% lower than the $262 billion figure that would be obtained by adding up the values reported by the platforms themselves.<\/p>\n<p>\\n\\n<\/p>\n<p>Based on the study&#8217;s results, the publication divided cryptocurrency exchanges into three groups depending on the magnitude of deviation between the transmitted indicators and reality:<\/p>\n<p>\\n\\n<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>0-25% \u2014 48 platforms, which on June 14 generated in total $39 billion in trading volume;<\/li>\n<li>26-79% \u2014 73 exchanges that generated $81 billion (versus $158 billion claimed);<\/li>\n<li>80-99% \u2014 the remaining 36 venues, generating $7.7 billion (versus $59 billion claimed).<\/li>\n<\/ul>\n<p>\\n\\n<\/p>\n<figure class=\\\"wp-block-image size-full is-resized\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/forbes-2.png\\\" alt=\\\"Forbes: More than 50% of Bitcoin trades on exchanges are fake\\\" class=\\\"wp-image-183040\\\" width=\\\"795\\\" height=\\\"737\\\" srcset=\\\"https:\/\/forklog.com\/wp-content\/uploads\/forbes-2.png 795w, https:\/\/forklog.com\/wp-content\/uploads\/forbes-2-300x278.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/forbes-2-768x712.png 768w\\\" sizes=\\\"auto, (max-width: 795px) 100vw, 795px\\\" \/><figcaption>Data: Forbes.<\/figcaption><\/figure>\n<p>\\n\\n<\/p>\n<p>Analysts noted that the second group mostly includes emerging companies that lack reliable tools to track the use of fake trading practices (<a href=\\\"https:\/\/www.investopedia.com\/terms\/w\/washtrading.asp\\\">wash trading<\/a>). The backbone of the third group comprises \u201cunregulated and small\u201d cryptocurrency exchanges.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier in March 2022, the U.S. Commodity Futures Trading Commission <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-to-pay-6-5-million-fine-for-falsifying-trading-activity-data\">ordered Coinbase to pay $6.5 million in penalties<\/a> for falsifying trading-activity data.<\/p>\n<p>\\n\\n<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>More than half of Bitcoin trades on centralized platforms have no economic sense and are fake, according to Forbes analysts in a recently published study.<\/p>\n","protected":false},"author":1,"featured_media":66378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,34,1145],"class_list":["post-66377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-forbes","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/66377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=66377"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/66377\/revisions"}],"predecessor-version":[{"id":66379,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/66377\/revisions\/66379"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/66378"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=66377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=66377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=66377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}