“Only 17% of all Bitcoin transactions are credible”

According to the Transparent Volume service of the analytic cryptocurrency company Nomics, only 17% of transactions from the declared trading volume of bitcoin can be considered real.

Nomics reports that, according to the Transparent Volume service, which aims to provide tools for reporting trading volumes on cryptocurrency exchanges, only 17% of all Bitcoin transactions are trustworthy, and 35% received a rating from “satisfactory” to “bad”. The total amount of these transactions is $ 3.99 billion.

According to the company, the new Transparent Volume service is designed to track the movement of crypto assets in real time between exchanges and provide a holistic view of trading volumes. According to the company, a service is less likely to take into account fictitious trade data and other misleading figures.

“The real and transparent trading volume is the volume of transactions with a certain crypto asset that moves through transparent exchanges, that is, the platforms to which we assigned a transparency rating of A +, A or A-,” the company said in a statement.

Recall that in the spring, an anonymous group of researchers CryptoIntegrity published the results of a study according to which 86% of transactions and 88% of the trading volume on cryptocurrency exchanges are created artificially. After that, the CoinMarketCap resource announced that it would change the ranking system for cryptocurrency exchanges.

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In addition, at the end of last year, the Blockchain Transparency Institute published its annual “Report on trading volumes of exchanges,” according to which only two sites from the top 25 do not overestimate their trading volumes.