The Cleanest Crypto Exchanges Include Kraken And Coinbase: Report

A new report is in the coming altcoin news, showing that the exchanges Kraken and Coinbase are among the cleanest crypto exchanges in terms of exchange volumes. Carried out by the Blockchain Transparency Institute (BTC), the market surveillance report shows that these two exchanges are impressive in terms of their volume.

It all started on September 19, when the Blockchain Transparency Institute published the 5th market surveillance report in the latest cryptocurrency news. The report verifies reporting of cryptocurrency exchange volumes, therefore stating which are the cleanest crypto exchanges out there.

What’s also interesting is the fact that BTI has been publishing reports since August 2018, and through the proprietary platform, has been cleaning all wash trading from exchanges’ volumes. As the new report states:

“Since the start of 2019, global wash trading has reduced by 35.7% among the real Top-40 exchanges. The process of sharing our data reports with many of these exchanges has resulted in enhanced mechanisms for detecting wash trading accounts and shutting them down.”

The report also reveals that the cleanest crypto exchanges continue to be Kraken, Coinbase, Poloniex and Upbit. As featured on many best cryptocurrency news sites, the report also shows that OKEx and Bibox, on the other hand, are the exchanges with the highest rates of wash trading according to the report and its real ranking of the top 40 exchanges.

The BTI report also found that Japan and the United States are the countries that lead the world in exchanges with accurate reporting.
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“This can be due to several factors, the main of which is the legal and regulatory standards in these countries. However, stricter regulatory frameworks do not always produce the cleanest exchanges,” the report adds.

Previously, there were a lot of reports related to the cleanest crypto exchanges out there. Among the reports was one that said that 95% of the Bitcoin trading volume was fake. Carried out by Bitwise Asset Management, this report declared that the BTC trading volume as seen on CoinMarketCap (CMC) which is the main crypto data aggregator – was due to wash trading.

Speaking of, wash trading is a type of market manipulation where buy/sell orders are simultaneously placed on the same asset – all in order to artificially increase its trading volume. This also gives the impression that the asset is more in demand than it actually is.