Bitcoin represents 40 per cent of the total crypto assets

According to BanklessTimes.com, more than 51% of the total Bitcoin trading volume on various cryptocurrency exchanges this year was counterfeit.

This is because of volatile global economic conditions. Also, most of the fake Bitcoin volume is due to wash trading.

Wash trading is illegal when assets are bought and sold simultaneously on the same platform to create false liquidity.

Jonathan Merry, CEO of BanklessTimes said that " Yet, there is a concern that a large part of the daily traded volume of Bitcoin is fake. This puts into question the legitimacy of exchanges and the reliability of data."

By appearing to be more popular than it actually is, an exchange can trick investors into believing that its platform has more activity and liquidity.

Another factor contributing to the fake volume is stablecoins such as Tether (USDT).

Tether pairs very well with Bitcoin and is often used to buy and sell Bitcoin on exchanges.

[{"selector":"#anim-76742f94-cbd5-4691-a77f-8670a2108b4d","keyframes":{"transform":["translate3d(338.88885%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-4550f5c1-a66e-4121-b183-50f198ead5cb","keyframes":{"transform":["rotateZ(180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] Read More