Bitcoin Trading Volume is FAKE – Katoch Tubes

Incorrect Bitcoin Trading reports

What's the news?

A report has revealed that more than half (51%) of daily Bitcoin trading volume reported are fake or miscalculated

Source of the Report

The report is published by Forbes analysts. The data is taken from 157 crypto exchanges & trading platforms.

The Actual Estimation

Acc. to report the global bitcoin trading volume should be $128 billion on June 14th but reported as $262 billion. A 51% gap

The Error by Firms

It is reported that the reputed research firms also misrepresents the data. CoinMarketCap at $32b, Coingecko $27b  on the same 24 hr period

What's wrong?

The report pointed to the incorrect methods of collecting and calculating the data across crypto exchanges

The Bitcoin Global Share

Bitcoin represents 40% of the $1 trillion global market of cryptocurrency. The misrepresentation of data isn't a good practice.

The Market Leaders

Binance exchange is the market leader while FTX is in the second spot. A due diligence is required for reporting correct data by all of them

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