作者
Guénolé Le Pennec, Ingo Fiedler, Lennart Ante
发表日期
2021/11/1
期刊
Finance Research Letters
卷号
43
页码范围
101982
出版商
Elsevier
简介
Cryptocurrency exchanges allegedly use wash trading to falsely signal their liquidity. We monitored twelve exchanges for metrics of web traffic and for their administered user funds. The exchanges were clustered in three distinct groups based on previous findings: (1) accurately-reporting exchanges, (2) exchanges that engaged in wash trading, (3) exchanges with mixed evidence of wash trading. A comparison of the reported to the predicted trading volume, calibrated on the accurately-reporting exchanges, suggests that group 2 exchanges exaggerate their true volume by a factor of 25 to 50, and exchanges of group 3 by a factor of 1.25 to 33.
引用总数
学术搜索中的文章
G Le Pennec, I Fiedler, L Ante - Finance Research Letters, 2021