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If I understand your example correctly, you mean to say that wash trading can be used to inflate prices. This could be true if Tether was simply another no-name
by 100qs 8y ago
If I understand your example correctly, you mean to say that wash trading can be used to inflate prices. This could be true if Tether was simply another no-name altcoin with abnormally large percentage volume on Kraken. However, Tether trades on the magnitude of a few billion USD daily[1]. $13 million is a drop in the bucket. And as the article states, the trade did not impact price.
[1] https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/
- JumpCrisscross 8y ago> Tether trades on the magnitude of a few billion USD dail You’re responding to an allegation of fabricated volumes by quoting volumes.
- notahacker 8y agoNot to mention the fact that real traders would stop exchanging their crypto for USDT pretty darn quick if its price fell below £1USD on exchanges trading USD/USDT pairs for a sustained period. A lot of the genuine activity takes place only because people/bots are watching those relatively small volumes of USD/USDT exchanges and seeing a steady stream of USDT orders at $1.