QTUM/BTC pair trades over $1b volume on LBank exchange...or does it?

15 Mar, 2019
by Ryan Boltman
News
QTUM/BTC pair trades over $1b volume on LBank exchange...or does it?

QTUM is not a new project, has not had some major announcement and has not just completed a massively hyped ICO either, However that did not stop the project from seeing over $2 billion in trading volume completed over the past 24 hours. According to LBank and Coinmarketcap.com 

One of the big questions in crypto still remains, how much of the volume in the market is actually real and how much of it is faked? Well it does not take much to spot volume that looks rather suspicious. 

Fintech and sports blockchain entrepreneur Alexandre Dreyfus pointed this out in a recent tweet, stating "LOL at @LBank_Exchange on @CoinMarketCap. They forgot to stop their fake transactions bots. Traded $1.1b of QTUM/BTC. Sounds legit."

Looking at QTUM, the BTC trading pair on LBank Exchange traded a whopping $1.161 Billion in volume over the past 24 hours. Just to put that into comparison, Binance reportedly only traded $36.8 million in the same trading pair. That is 3148% more trading volume than Binance. 

Image from Gyazo

Essentially LBank exchange was responsible for 78.8% of all QTUM trading over the past day, making QTUM the fourth most traded coin behind BTC, USDT and Ethereum. 

Image from Gyazo

LBank also climbed a staggering 187% in daily trading volume, soaring to 2x more trading volume than Binance on the adjusted volume charts provided by Coinmarketcap.com 

Image from Gyazo

LBank is essentially the most popular cryptocurrency exchange in the world, and yet half the planet has not even heard or used the exchange. The facts are so blatantly clear that LBank is wash trading and creating fake volume. 

 Read more: BTI report claims $6 billion of the daily crypto volume is fake

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Read more about: Qtum (QTUM)

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