The latest market overview by the Blockchain Transparency Institute (BTI) has just been released. The report states that both Coinbase and Kraken are among the ‘cleanest’ cryptocurrency platforms in the industry.
At the back end of last week, the Blockchain Transparency Institute posted its 5th market report looking into the space’s crypto platforms. The Institute has been publishing these kinds of reports for just over a year now since August 2018. Thanks to its propriety algorithm, BTI cleans al wash trading from exchange’s volumes.
This recent report states:
“Since the start of 2019, global wash trading has reduced by 35.7% among the real Top-40 exchanges. The process of sharing our data reports with many of these exchanges has resulted in enhanced mechanisms for detecting wash trading accounts and shutting them down.”
The report goes onto reveal that the cleanest platforms since its latest report continues to be Kraken, Coinbase, Poloniex, and Upbit. When it comes to other exchanges like OKEx and Bibox though, these platforms have the highest hash rates of wash trading according to the report’s real ranking of top crypto platforms.
The BTI report further continues to say it found that the United States and Japan lead the globe’s platforms with accurate reporting.
“This can be due to several factors, the main of which is the legal and regulatory standards in these countries. However, stricter regulatory frameworks do not always produce the cleanest exchanges.”
News came out earlier in the year saying that another report was issued by Bitwise Asset Management on Bitcoin trading figures. The San-Francisco-based Index fund provider declared that just under 100 percent of Bitcoin trading volume.
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!