Crypto Exchange Wash Trading Research Supplementary Report
As a supplementary report to the “Wash Trading Research”, this paper is intended to provide another way to qualitatively determine the credibility of reported trading volume.
- As a supplementary report to the “Wash Trading Research”, this paper is intended to provide another way to qualitatively determine the credibility of reported trading volume.
- This paper conducted the Benford’s Law compliance test and the Last digit Distribution test on 19 exchanges. There are 5 test indicators in total. If a certain exchange passes most indicators (3 or more), it is considered to have a low wash trading percentage.
- Among the 19 exchanges, 12 exchanges passed 3 indicators or more; the other 7 exchanges only passed less than 3 indicators, which are considered to have high wash trading percentage.
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