Ethereum-Based DEXs Riddled With Wash Trades: Report Sheds Light On $2B Manipulation
Portfolio Pulse from Murtuza Merchant
Solidus Labs has identified $2 billion worth of wash trades on Ethereum-based decentralized exchanges (DEXs) since 2020. The firm analyzed around 30,000 DEX liquidity pools and found that 67% were tainted by wash traders. These activities accounted for 16% of the total trading volume in these manipulated pools. Solidus Labs' CEO, Asaf Meir, stated that market manipulation remains a significant challenge within the crypto industry.
September 12, 2023 | 6:02 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The report of wash trades on Ethereum-based DEXs could negatively impact the perception of Ethereum's market integrity, potentially affecting its price.
The report of wash trades on Ethereum-based DEXs raises concerns about market manipulation and integrity. This could lead to increased regulatory scrutiny and potentially deter investors, which could negatively impact Ethereum's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100