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Cryptocurrency: Most trades could also be individuals shopping for from themselves

Cryptocurrency: Most trades may be people buying from themselves


An evaluation has discovered that wash buying and selling, a type of market manipulation, is rife on unregulated crypto exchanges



Expertise



25 November 2021

Individuals can purchase and promote cryptocurrencies on unregulated exchanges

Oatawa/Getty Pictures

As many as seven in 10 cryptocurrency trades on the world’s hottest however unregulated exchanges could also be individuals shopping for from themselves to artificially inflate costs, in keeping with a brand new evaluation.

A examine of 29 cryptocurrency exchanges, the place individuals purchase and promote the digital currencies, undertaken between July and November 2019 has discovered important volumes of “wash buying and selling” inside cryptocurrencies. Wash buying and selling is the place an investor sells and buys the identical asset to create synthetic curiosity in an funding, usually distorting …

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