Switcheo Network to Launch OTC Platform

As reported, the new non-custodial platform will use the same account in the smart contract as on the exchange
28 February 2019   496

Switcheo decentralized cryptocurrency exchange announced the launch of a public beta test of its own over-the-counter platform starting from March 4th.

The new non-custodial platform will use the same account in the smart contract as on the exchange.

Switcheo OTC leverages on our existing trustless smart contracts on Ethereum and NEO, allowing users to execute peer-to-peer trades with zero counter-party risk and super low fees!

Jack Yeu

Co-founder, Switcheo Network

In addition, during the first month to attract customers, the Switcheo OTC platform will free traders from commissions. In the future, users will be able to use SWTH tokens to get discounts on commissions.

Initially, the set of tokens on Switcheo OTC will be limited, and users will not be able to exchange assets released on different blockchains.

However, in the future, the site intends to add support for all ERC20 and NEP5 tokens, as well as the function of atomic swaps.

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.