1.  Wemade and MYSTiC Games to onboard new highly inter-operable games to WEMIX PLAY
  2.  Wemade to support blockchain gaming ecosystems growth in Dubai and the UAE through collaboration with Dubai Chambers 
  3. Wemade CEO Henry Chang to attend Fortune Global Forum and Abu Dhabi Finance Week 2023
  4. Recordian Set to Propel PulseChain Blockchain to New Heights in 2024
  5. Lee Yewon wins WEMIX CHAMPIONSHIP 2023
  6. Wemade announces global teaser site and pre-registration date for blockbuster MMORPG NIGHT CROWS
  7. WEMIX announces listing on Canadian virtual asset exchange Biconomy
  8. Wemade and 2TG Entertainment to Launch New Strategy RPGs on WEMIX PLAY in 2024
  9. Wemade and Fingerlabs announce strategic collaboration to drive WEMIX3.0 blockchain ecosystem growth
  10. Wemade and Elympics Sign Milestone WEMIX PLAY Onboarding Deal
  11. WEMIX enters into strategic partnership with Chainalysis
  12. Wemade launches first-of-its-kind Real World Event NFTs at G-STAR 2023
  13. Hong Kong FinTech Week 2023 “Fintech Redefined.”
  14. Wemade announces Strategy SLG Street Wars: Hero Domination WEMIX PLAY Onboarding Deal
  15. WEMIX PTE. LTD. Invested in Five Chinese Game Developers Through Blockchain Game-specialized Fund
  16. ABC Conclave – Dubai – The Pinnacle of Web3 Innovation, Gathering Global Experts to Forge the Future of Decentralized Technology at Address Dubai Marina
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  18. WOW Summit Dubai 2023: Unveiling a Star-Studded Lineup of Speakers and Esteemed Sponsors
  19. Wemade launches Drops NFT auction service on WEMIX PLAY 
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  26. Lightscale launched Kroma mainnet, Ethereum Layer 2
  27. Henry Chang, CEO of Wemade, delivers a keynote at ‘KBW2023: IMPACT’
  28. Wemade launches first-of-its-kind ‘PoET’ block reward program
  29. WEMIX3.0 welcomes CertiK as a node council partner WONDER 9
  30. WEMIX Listed on US Cryptocurrency Exchange TAPBIT
  31. HashQuark joins WEMIX3.0 NCP as WONDER 16
  32. Blockchain Life 2023 in Dubai – The Crypto Event of the Year
  33. Wemade onboards Global Game Developers across Singapore, UAE, and South Korea for WEMIX PLAY
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  39. Klaytn Joins WEMIX3.0 NCP as WONDER 23
  40. WEMIX.Fi Introduces WONDER Staking Service with 40 WONDERS
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  46. Istanbul will be hosting Eurasia’s Largest Blockchain Event once again on May 8–11, 2023
  47. Nordek, Powered by NRK – Joins World Blockchain Summit – Dubai 2023 as Powered By Sponsors
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Trading volumes on 157 fake exchanges – new analysis
Fake Bitcoin Trading Volumes on 157 Exchanges? A new Forbes report

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As a pioneer currency and the best-known digital asset, Bitcoin dominates the digital asset markets. The coin holds more than 40% of the market capitalization of all cryptocurrencies. According to a report by Forbes, however, more than half of the daily trading volume of Bitcoin is fake.

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Although it is assumed that Bitcoin the trading volume of other cryptocurrencies will far exceed, the Forbes report suggests that the figures may be exaggerated.

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51% of daily trading volume is Fake: Forbes

According to a report by Forbes, 51% of the daily Bitcoin trading volume quoted on the exchanges is likely to be fraudulent or for non-economic purposes. Forbes obtained this information by studying 157 cryptocurrency exchanges in different countries.

Basically, Forbes estimates that the industry’s daily global Bitcoin volume is $128 billion. The reference date was 14 June. In view of this, the $ 262 billion that would result from the addition of self-reported volumes from various sources is 51% lower.

In addition, according to Forbes, companies such as Binance, MEXC Global and Bybit are among the most problematic areas with fake volumes. They would advertise with large volumes but operate with little to no regulatory oversight.

According to the Forbes report, the less regulated exchanges account for about $ 89 billion of the actual volume (although $ 217 billion is indicated).

21 Cryptocurrency Exchanges Generate a Daily Trading Volume of $1 Billion or More for Bitcoin, while the following 33 exchanges record a volume of between 200 million and 999 million dollars.

The report also notes that there is no real method for calculating the daily Bitcoin volume. This is true “even among the most reputable research companies in the industry”.

The report on this:

“For example, CoinMarketCap puts the recent 24-hour trade in Bitcoin at $32 billion, CoinGecko at $27 billion, Nomics at $57 billion and Messari at $5 billion.“

Binance remains the top stock exchange

While CME Group dominates the derivatives market when it comes to futures trading, Binance, FTX and OKX hold the top spots for spot markets. The American company is very pleased with being the largest derivatives exchange in the world.

Nevertheless, the analysis admits: even smaller stock exchanges tend to overestimate themselves.

“The biggest problem areas in terms of fake volumes are firms that brag about large volumes but operate with little or no regulatory oversight that would make their numbers more credible.“

The report notes in this regard that Binance, MEXC Global and Bybit are among these companies. Binance has traded $89 billion worth of Bitcoin, which is more than 58% less than the claimed $217 billion.

Another result of the report was that 573 million people visit a stock exchange every month. In a Forbes interview, FTX CEO Sam Bankman-Fried is said to have discussed his belief that many cryptocurrency exchanges are insolvent.

Even if you try to hide this. According to Fried, there will therefore be numerous collapses of cryptocurrency exchanges in the future. At that time, FTX had been profitable for ten quarters.

It is easy to assume that in the Western world, especially in the USA, Bitcoin is simply traded against the US dollar, the euro or the British pound. However, the report notes that some of the major trading pairs are traded against major stablecoins such as Binance USD (BUSD) and the USD coin, as well as against fiat currencies such as the Japanese yen and the Korean won.

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Proof of text: Bitcoinist

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