2019 Q3 Crypto Exchange Wash Trading Research

TI Research

After several months of due diligence, TokenInsight as a blockchain data and technology-driven third-party research agency has completed its analysis on the real trading volumes of the different cryptocurrency exchanges. This report aims to promote transparency within the cryptocurrency industry and develop an objective and fairer market trading environment. We believe that there is no current method or model that can perfectly detect wash trading, however, we hope to provide more information to the market through this study. Thus, we have completely disclosed our data and research methods and framework; and we honestly accept the criticism and questioning of our analysis. Anyone is welcome to reach out and discuss our findings.

key points

  1. According to our analysis, some of the non-top-tier exchanges continue to show serious "wash trading" issues.
  2. As a data and tech-driven blockchain finance company, TokenInsight spares no effort to establish its own data center based on the interests of investors and has recorded the transactions of 24 mainstream exchanges in periods from 00:01 on September 3rd, 2019 to 22:35 on September 21st, 2019. Later, we conducted a qualitative and quantitative analysis of the "wash trading" by using power-law based quantitative model and two comparative analysis methods.
  3. Wash trading detection and monitoring will be launched on TokenInsight's official website in the upcoming future. Individuals can use this page to view the real-time wash trading volume of cryptocurrency exchanges. As we continue to develop our models for identifying wash trading  behavior, TokenInsight will continue to provide complimentary reports that supplement our findings to the market.


TI Research

TokenInsight is a data and research organization for the digital asset market. TI provides comprehensive asset-related data and comprehensive and timely information and research services for digital assets.

Use TokenInsight App All Crypto Insights Are In Your Hands