News That Matters

Tag: Digital currencies

Over half of Bitcoin’s daily trading volume fake globally: Report
Business

Over half of Bitcoin’s daily trading volume fake globally: Report

More than half of all Bitcoin daily trading volumes are reportedly fake, as the world's largest cryptocurrency nosedives again amid global economic turmoil. According to a Forbes analysis of 157 crypto exchanges and trading platforms, more than half (51 per cent) of all reported trading volume is likely to be fake or non-economic. "We estimate the global daily bitcoin volume for the industry was $128 billion on June 14. That is 51 per cent less than the $262 billion one would get by taking the sum of self-reported volume from multiple sources," the report mentioned. Bitcoin represents 40 per cent of the $1 tri...