Bitcoin traders have long been skeptical of the reliability of available exchange data – but that uncertainty has been on the rise in recent days.
To recap, up until recently, China-based exchanges BTCC, Huobi and OKCoin dominated the landscape in terms of volume (though these figures were long observed with skepticism). However, this reign was cut short earlier in January when the startups came under the scrutiny of the People’s Bank of China (PBOC), the country’s central bank.
The result has been a series of policy changes, the abrupt end to popular trading features like margin trading and a rapid decline in the volume at the three exchanges, developments that are now impacting the wider market.
In recent days, new no-fee exchanges are now ranking among the top 10 in volume, resulting in a bitcoin exchange leaderboard that looks markedly different than it did last…