Hey guys, so i've read a new report on how much of the exchanges volumes are just wash trading and the numbers are way too high for what real users do>.
This is pretty concerning, since the market might not be nearly as stable and mature as we think, it might all be manipulated.
What do you think of the current state of big exchanges and price manipulations that we experience?
my source:
https://www.blockchaintransparency.org/reports/Will,in this situation only things that we can do is hoping thats this are not true and this wash trading are not happen,because the first affected are us lowest investor of cryptocurrency,especially now thay market is still bleeding the more the exchanges manipulate the price,the more we are loosing value of our profit,therefore we should aware into this scenario because many low traders have been affected.
Obviously, the lower ones down the chain who are actually looking for ways to get rich quicker and normally the ones who at the end of the day, usually get to panic easily due to some market movement downward or pretty much join FOMO when the market is moving up speedily. This is a decentralized market and before we will get to start seeing the possibility of regulations, I am sure the whales and institutions would have made the weak hands suffer for it by making them to sell at loss most of the time and making people to get greedy so they can keep increasing their stash.