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Over 50% of all Bitcoin’s daily trading volume is fake – Forbes

More than half of all Bitcoin reported daily trading volumes are fake, according to a Forbes analysis of 157 crypto exchanges and trading platforms which revealed that 51% of all reported trading volume is either fake or non-economic. It estimated that the global daily bitcoin volume for the industry was USD128bn on 14 June which was 51% less than the USD262bn figure reached by taking the sum of self-reported volume from multiple sources. Bitcoin represents about 40% of the USD1tr global crypto market. According to the report, there is no genuine method of calculating accurately Bitcoin daily volume. In terms of how much Bitcoin activity takes place, 21 crypto exchanges generate USD1bn or more in daily trading activity, while the next 33 exchanges had volume between USD200m and USD999m.

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