The popular analytical resource CoinMarketCap (CMC) has confirmed that the information on fake trading volumes on cryptocurrency exchanges is true. The site intends to introduce new metrics to combat inaccurate data.
Now CMC will track traffic from cryptocurrency exchange sites, cold and hot wallet balances, as well as liquidity indicators. Thus, users will be able to assess the ratio of trading volumes and actual liquidity themselves, and draw their own conclusions.
CMC also urged users to make suggestions for improving the site.
Last week Bitwise Asset Management sent a report to the Securities and Exchange Commission of the United States (SEC) about the falsification of trading volumes by unregulated cryptocurrency exchanges. Bitwise analysts have concluded that 95% of the indicators do not correspond to reality.