数字货币: 12,944
交易所: 221
总市值占比: BTC: 38.31% ETH: 16.35%
ETH Gas: 7 Gwei
  • Low: 5 Gwei
  • Average: 7 Gwei
  • High: 8 Gwei
  • Data from Etherscan.
24H 现货交易量: $55,747,790,076.32
24H 衍生品交易量: $63,525,016,165.52
全市场合约未平仓量: $37,886,251,477.70
中文
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交易所真实交易量报告(上)

TI Research
2019 09 Crypto Exchange Wash Trading Research

经过数个月的努力,作为一家以数据和技术驱动的区块链第三方评级与研究机构,我们秉持开放的态度,进行交易所真实交易量的研究,并发布研究报告,旨在推动行业进步、维护一个更加公平透明的交易环境。 我们相信目前市场上并不存在一种能够完美检测虚假交易的方法或模型,但希望依靠自身的努力与研究,为市场提供更多透明化的信息。 因此我们将数据信息和研究方法完全公开,接受批评与质疑。 欢迎并期待读者与我们共同探讨。 正如TokenInsight的理念一样: Find, Create and Spread Value in Blockchain. 发现,创造并传播区块链中的价值。 我们相信, 真实就是最大的价值。

要点总结

  1. 2019年3月Bitwise在向SEC提交的报告中指出比特币市场“刷量”行为严重,全市场真实交易量约为报告交易量的4.5%,仅有10家交易所能够报告真实交易量。此报告是研究机构首次通过公开渠道发表关于“刷量”的研究,市场参与者对这一结果表示震惊。
  2. 受Bitwise报告影响,多数交易所已经减少制造虚假交易或改进“刷量”程序。一些交易所甚至针对该报告所使用的某些方法进行技术升级,导致投资者在分析真实成交量时产生较大困惑。
  3. 同年7月,市场流动性与场外交易提供商Alameda Research发布相关研究报告,并持续公布真实交易量监控数据。该结果显示目前(2019年9月25日)加密货币市场中有66.4%的交易量为虚假成交。Alameda Research对交易所报告交易量真实性的结论有三种:可信,50%可信和不可信。
  4. 对于一般投资者而言,真实交易量分析的困难之处在于:难以获得交易所完整的交易数据。
  5. TokenInsight作为领先的区块链评级与研究机构,从投资者的切实利益出发,不遗余力地建立自有数据中心,在北京时间2019年6月26日10点30分至2019年7月28日23点55分期间对30家主流交易所的逐笔成交进行了记录。随后,我们使用自行开发基于幂律分布的量化分析模型,并参考了Bitwise提出的比较分析方法,定性定量双管齐下进行“刷量”分析。
  6. 结果显示,某些交易所依然存在严重的“刷量”行为。
  7. TokenInsight官方网站将于近期上线“市场真实交易量”监控页面,市场参与者可通过此页面查看各交易所实时真实交易量占比;并且,我们正在同步开发两种鉴定“刷量”行为的模型,将于完善后发布补充报告。

获取完整版报告,了解单个交易所真实交易量数据,请点击右上方PDF图表下载报告。

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