Understanding Bogus USD Crypto-currency ‘Volume’: Why you should disregard FakeUSD™ Prices and Volume.

It’s all about the Benjamin’s.

The majority of exchanges, and trading, is not done in US Dollars

For example, here’s the Number 1 Volume exchange at the time of this post, Binance.

$2.1 billion in volume, on an exchange with no dollars. It’s magic!

You cannot treat Crypto/Crypto as “US Dollar” volume or US Dollar liquidity

Imagine for a moment that you go to a Pokemon trading show where people can buy and sell their Pokemon cards. Outside the trading convention Pokemon cards are bought and sold on say… eBay.

If you want to price things in US Dollars… you need a US Dollar pair for it

The truth is for exchanges that do not have US Dollars on them, the volume is $0 USD. If an exchange has no fiat currency at all… again, the volume is $0.

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Bitfinex’ed

Bitfinex’ed

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Blog for @Bitfinexed on Twitter. Exposing possible fraud by largest Bitcoin exchange, Bitfinex/Tether