Bithumb to Comment Faking Accusations

Bithumb team stated that all these accusations are baseless
20 December 2018   1498

CER analytical service accused the South Korean cryptobirge Bithumb of falsifying trading volumes. However, representatives of the platform deny these accusations, Forbes reports.

Judging from our multifaceted investigation on Bithumb charts we see the signs of trade volumes manipulations, specifically, wash trading. Having calculated Price-Volume Correlation we came to conclusion that the trade volume performance is not linked to price fluctuation on the exchange.

Gleb Myrko

Marketing lead, CER

In September, Bithumb ranked first in the CoinMarketCap ranking in terms of trading volume. Then the average daily turnover of the South Korean exchange was $ 350 million. On November 11, Bithumb users made deals in the amount of $ 4.4 billion, which is 12 times more than the September figures. At the moment, according to CoinMarketCap, the average daily trading volume on the exchange is $ 2.5 billion.

CER specialists studied the data of the CoinMarketCap resource and came to the conclusion that Bithumb creates artificial activity on the platform, thus overstituting the trading volumes. CER also states that the dynamics of trading volumes are in no way connected with price fluctuations on the exchange.

Researchers also found suspicious activity on the stock exchange in the first minutes of the start of the working day. Transactions made at this time accounted for 95% of the total daily trading volume.

In turn, the Bithumb team stated that all these accusations are baseless.

Bithumb is doing nothing to inflate trading volume. Bithumb is not selling mining-based coin. Bithumb is trying to get more customers by providing various promotions just like any other company in the world as a normal business.

Bithumb Team

CER experts have promised to publish a full study to prove Bithumb’s fraudulent actions.

Note that in August, analysts at the Blockchain Transparency Institute announced that cryptocurrency exchanges overstate trading volumes by $ 6 billion daily.

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   1020

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.