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70% of unregulated exchange transactions are wash trading: NBER study

A working paper titled “Crypto Wash Trading” was recently published by the National Bureau of Economic Research (NBER). Using statistical and behavioral patterns to determine which transactions were legitimate or not, the paper studied 29 unregulated exchanges and came to the conclusion that, on average, more than 70% of the volume within the platforms are wash trades.

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Source: Cryptocurrency - investing.com

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