Near 95% of Bitcoin volume is fake – March 25

Current Bitcoin Price: $3977 (as of 9:00 AM PST)

The cryptocurrency market has hardly moved since our last newsletter on Friday. Bitcoin is sitting just below the $4000 line, having fallen perhaps one percent since Friday, while prices for Ethereum and XRP stand at $135 and $0.30 respectively.

Over the last 24 hours, coins across the charts have fallen by small fractions. In the top-20, the only exceptions are Tether (which, as a stablecoin, always shifts marginally against the general market direction) and Tezos, which has rallied more than 4% today.

Top Crypto News Stories for 25th March 2019

Near 95% of Bitcoin volume is fake

With loose regulations and an international audience, the cryptocurrency market is ripe for manipulation. Fake trading volume has been one of the most prominent fraudulent activities on the scene, but do you know just how bad it is?

A recent study suggests that almost 95% of Bitcoin spot volume is fake. The total, average daily volume listed on CoinMarketCap is more than $6 billion, while analysis shows that the true figure is closer to $270 million.

Half of Justin Sun’s followers are fake

TRON is one of those cryptocurrency projects with a very strong and devoted following, but the project — and its founder Justin Sun — have faced criticism over accusations of marketing chaff, propaganda, and fake followings.

So, speaking of fake statistics, it turns out that more than half of Justin Sun’s Twitter followers are fake users!

Binance Lite rolled out to 1300 locations

We recently introduced you to the idea of a service called Binance Lite, which would allow users across the world (starting in Australia) to purchase Bitcoin at local shops and newsagents.

Binance Lite has just been rolled out to more than 1300 locations across Australia!