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/I have always thought that the volume that we see is not real and that is inflated and exaggerated by exchanges, and while that is important I do not see a great effect in the price of bitcoin, bitcoin is by far the strongest cryptocurrency in the market and even if the volume was cut in half there will not be any bad effects that will affect bitcoin, however it is entirely possible that this could affect the price of altcoins, because as we know those coins are not as strong as bitcoin.
And since the demand of most coins is very low finding out that the volume is mostly fake will undoubtedly shake the confidence in the market in those coins and could make them disappear or at least to lose a lot of value.