Binance to Represent 2.0 Version

The key features of the updated desk are margin trading for everyone along with updated design
27 June 2019   312

Binance exchange introduced an updated version of the platform.

While #bitcoin is on a tear on price, Binance have rolled out Binance 2.0, with margin access to everyone.

In bear and bull markets, we #BUIDL!

Changpeng Zhao

CEO, Binance

In response to the posting of one of the commentators on new opportunities for bitcoin shorting, Changpeng Zhao also suggested that this is a rather bad idea in and of itself.

Recall that Binance can add margin trading to its platform, it became known in early May, and at the end of the month the exchange showed an updated interface with a new tab “Margin”.

On June 11, the exchange announced the start of the last round of closed testing of margin trading and invited users to participate in it. The offer, however, was limited to thousands of users.

The first liquidation of the marginal position in the framework of these tests took place on Monday, June 24th.

Fake Trading Share to Reach 68%, - FTX Global

This figure, however, is significantly lower than what Bitwise's report and the discrepancy is explained by the difference in methodology
04 July 2019   895

The exchange of derivatives FTX Global and Alameda Research conducted a study that estimated the volumes of fictitious transactions (wash trades), presumably prevailing in many cryptocurrency exchanges.

The report says that 68.6% of trading volumes displayed by CoinMarketCap are fake. This figure, however, is significantly lower than what Bitwise Asset Management announced in March.

The discrepancy between the results in almost 30% of the authors of the new study is explained by the difference in methodology. So, FTX Global is sure that Bitwise used an too strict approach to data analysis, which is why a significant proportion of real trading volumes fell into the category of fake ones.

While our methods are not foolproof, we believe they paint the most accurate picture of the true nature of cryptocurrency trading volume that anyone has made publicly available as of yet.

FTX Global Team

The Alameda methodology involves verifying the authenticity of data on trading volumes on various exchanges based on six different parameters, including manual verification of information and comparison of order books.

FTX Global Website
FTX Global Website

In particular, the experts found out that some sites provided data on the volumes of foreign exchanges for their own, with a slight delay in time. Other platforms used more advanced techniques - for example, they introduced large fake volumes only against the background of many smaller orders, thus trying to hide the true state of affairs.

The main purpose of these tactics is to raise the platform higher in the CoinMarketCap rating, creating a false impression of its liquidity. It also sometimes allows for the ability to charge a higher listing fee.