Published on July 20th, 2018 | by bitcoin0
Aiding Wash Trading Allegations Answered by Coinmarketcap
Markets and Prices
Coinmarketcap (CMC), the web’s most popular cryptocurrency tracker website, has responded to accusations that it is implicit in supporting wash trading.
This week, a platform called Crypto Exchange Ranks published detailed allegations of how CMC incentivizes exchanges to report fake volume.
In a new blog post, Coinmarketcap has detailed its determination to support “transparency and clarity”.
Also read: How Coinmarketcap Incentivizes Exchanges to Report Fake Volume
Coinmarketcap Cleans Its Shop
As news.Bitcoin.com reported yesterday, Coinmarketcap has been taking flak for blindly publishing suspicious data from certain crypto exchanges.
Through wash trading – simultaneously buying and selling on its own platform to create the illusion of high volume – Bitforex managed to leapfrog into the top 10 according to CMC’s rankings.