CryptoSlate: fake volumes and malpractices on “major” crypto exchanges hurting industry

Newly emerging crypto exchanges, equipped with billions of dollars in daily trading volume, are thriving based on fake numbers and malpractices, which may have a significantly negative impact on the long-term growth of the crypto market. Due to the high listing fees and large profit margins generated from processing digital asset trades, the cryptocurrency exchange market has seen an influx of entrepreneurs and developers from major industries. However, as of recent, the gold rush of entrepreneurs to create the “next big thing” in the cryptocurrency exchange market has negatively affected the cryptocurrency sector, leading investors to lose trust and confidence in the market.

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