Grayscale Bitcoin Trust to be The Most Traded at OTCQX

OTC Markets Group (formerly known as Pink Sheets) is an OTC stock trading system, it reflects broker/dealer quotes for over-the-counter securities
08 May 2019   557

The head of the Digital Currency Group, Barry Silbert, reported that the shares of the Grayscale Bitcoin Trust (GBTC) were among the leaders in terms of trading volume at the OTC Markets Group.

OTC Markets Group (formerly known as Pink Sheets) is an OTC stock trading system. It reflects broker/dealer quotes for over-the-counter (OTC) securities.

Grayscale Investments, part of the holding of the Digital Currency Group, recently launched the #DropGold campaign with a call to get rid of gold in favor of Bitcoin.

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   1187

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.