A recent study on digital asset trading globally, has placed BTC Markets as the 17th largest exchange in the world by Bitcoin trade volume as seen here.
Independent market analysis and research group, Blockchain Transparency Institute, has released a revealing report on trade volumes by cryptocurrency exchanges globally. As part of the report, the Institute used its research methodology to calculate the true Bitcoin volume traded on exchanges listed on the popular cryptocurrency market tracker CoinMarketCap.com.
The Institute’s December 2018 report revealed the majority of the top 25 Bitcoin trading pairs have an actual trade volume of less than 1% of their reported volume. The report further detailed that wash trading is rife amongst the world’s “top” exchanges, who are faking up to 95% of their volume to attract payment of high token listing fees, with each project paying an average of US$50,000.
Also included in the December report is the trusted exchange list showing those known to be reporting actual trade volume and not engaging in wash trading or faking of volume. BTC Markets featured as the 17th largest exchange globally and Australia’s number one, by true Bitcoin trade volume. At the time of the report, CoinMarketCap showed BTC Markets well outside the top 100 Bitcoin pairs by reported volume.
These figures demonstrate the true size of the digital asset economy, the scale of the Australian market and the disparity in real vs reported trade volume by global exchanges. The report also highlights that BTC Markets remains, a safe, secure, transparent and globally competitive exchange to trade digital assets.