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Topic: [2016-11-03]Bitcoin Reaches All Time High Daily Trading Volume at $5 bln (Read 326 times)

legendary
Activity: 966
Merit: 1042
Chinese exchanges might not be the only ones padding volumes, what about Western exchanges here in the U.S and even in Europe? Padding could be a worldwide thing.

It could be, but a 1% fee really hinders it. No fees means you buy 10BTC, sell 10BTC, buy 10BTC, sell 10BTC. That's what they mean by the volumes being inflated. Why wouldn't you do that if there's no fee to pay? It's less risk because of it.
sr. member
Activity: 350
Merit: 250
Chinese exchanges might not be the only ones padding volumes, what about Western exchanges here in the U.S and even in Europe? Padding could be a worldwide thing.
legendary
Activity: 3948
Merit: 3191
Leave no FUD unchallenged
While I do expect the figure to rise further, it's best to take it with a pinch of salt, as many exchanges pad their numbers.  Perhaps they think it looks good to potential investors or something.  Even back in 2013, there were claims that OKCoin were fudging the figures.  And even today, looking at the current figures, it looks like OKCoin are still claiming to have the highest volumes, so it's probably fair to assume they're still doing it.
legendary
Activity: 1918
Merit: 1012
★Nitrogensports.eu★
It is best not to look at Chinese volumes, because zero transaction fee trading can inflate volumes.
Coinmarketcap gives the daily volumes at $100Mn, a far cry from the $5Bn mentioned in the article.
full member
Activity: 238
Merit: 100
Bitcoin Reaches All Time High Daily Trading Volume at $5 bln

Bitcoin reached its all time high daily trading volume at $5 bln earlier this week, primarily because of the current regulatory policies on Wealth Management Products in China. The rapid surge in daily trading volumes allowed the Bitcoin price to reach a multi-month high, surpassing $733 in most markets.

https://cointelegraph.com/news/bitcoin-reaches-all-time-high-daily-trading-volume-at-5-bln
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