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Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists Altcoins
In recent news pertaining to cryptocurrency exchanges, images circulating online show Pantera Capital’s Digital Asset Fund had a lifetime-to-date performance of minus 40% as of the end of August, Bittrex has announced the delisting of Bitshares, Bitcoin Gold, and Bitcoin Private, and Indian cryptocurrency exchange, Bitbns, has been accused of falsifying its trade volume.
Pantera Digital Asset Fund Posts 40% Lifetime Loss So Far
A post circulating on Twitter detailing the “August performance” of Pantera Capital’s Digital Asset Fund shows that the fund’s life-to-date losses were 40.8% as of the start of September.
The post also shows that the fund lost 22.3% in August alone, and is down 72.7% from the all-time highs posted by the fund in January.
Earlier this month, Bloomberg reported that the Grayscale Bitcoin Investment Trust has lost 80% of its value when compared with the fund’s December 2017 all-time highs after it recently established a new for 2018, signifying that the bearish performance of cryptocurrencies has fueled losses across numerous virtual currency funds.
Bittrex Delists BTS, BTG, and BTCP
Bittrex, the thirty-fifth largest cryptocurrency exchange by trade volume according to Coinmarketcap’s adjusted volume rankings, has delisted Bitshares (BTS), and Bitcoin Gold (BTG), and scheduled the delisting of Bitcoin Private (BTCP) for November 5th – citing low volume.
As of this writing, BTG has a 24-hour trade volume of nearly $4.7 million despite the Bittrex delisting, whilst approximately $3 million worth of BTS, and nearly $155,000 worth of BTCP has changed hands in the last day.
It total, Bittrex facilitated nearly $40.1 million worth of trade in the last 24 hours as of this writing.
Bitbns Accused of Faking Trade Volume
A post authored by Indian cryptocurrency trader Karthik Varma has accused Bitbns of consistently faking its reported volume.
The author asserts that after launching in December, the exchange went on a listing spree in order to attract traders and liquidity, adding that the exchange was accused of faking volume in March following abnormalities in the trade volume of ETN – to which the exchange responded by stating that a bug in the company’s system was causing incorrect volume calculations.
In July 2018, the author asserts that Bitbns maintained strong volume despite trading activity on “most of the Indian exchanges […] decreasing drastically,” prompting analysis of Bitbns’ trade logs on the part of Mr. Varma.
According to Mr. Varma’s analysis, ”The volume reported” by Coinmarketcap for XRP pairings on Bitbns is “more than 500% than the actual volume,” and that the reported volume for BTC on the exchange is “668% than the actual volume.”
Do you think that the practice of falsifying trade volume is common among cryptocurrency exchange? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
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The post Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists Altcoins appeared first on Bitcoin News.
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