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BTI, or the Blockchain Transparency Institute has gathered evidence which shows that for a longer period of time, Tether is used to deliberately sway crypto markets and wash trading was noted in 64 percent of all trading activity as per the blockchain latest news today.

The recent research that was conducted by the BTI identified some alarming figures that resemble the amount of wash trading that takes place among the leading cryptocurrencies. By merely calculating the disparity between the reported and adjusted volumes of each crypto, the BTI was able to pinpoint the exact amount of volume that is ‘’faked’’ by crypto exchanges.
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The fourth-biggest cryptocurrency by market cap and largest by volume, Tether, was found to be one of the most wash traded assets on the list. More than 64 percent of its volume is believed to be faked by wash trading according to the institute’s findings.

The latest BTI report on wash trading involves about 40 hand-picked exchanges that are cooperating with data sharing. BTI noted that this year only, wash trading activities decreased by 35.7 percent among those markets. According to the data we have today, the cleanest exchanges over this time continue to be Poloniex, Coinbase, Kraken, and Upbit. On the other hand, OKEx and BiBox are the exchanges that have the highest percentage of wash trading in the real ranking of the top-40. Fake volumes of the exchanges exceeded more than 75 percent and their real volumes still place them in the top 20. As seen separately for each coin, BTC wash trading makes up about 48 percent of market activity. Monero makes up about 91 percent since, for the smaller coins, wash trading is prevalent.

Wash trading is the practice of selling and buying back the tokens that are artificially created for high trading volumes. Some crypto exchanges do this regularly in order to fake the amount of activity on their platform and attract new customers. Tether is concentrated on Binance and OKEx where the analysts noted some sighs of potentially faked or automated trading activity. OKEx denied having washed trading on its platform or even fake volumes. However, as we can read in the latest crypto news today, the increase in the BTC prices in the past two years coincides with increased Tether minting. The leading stablecoin went from a small-scale asset to the most actively traded coin.