Amid the recent boom within the NFT Industry, a new study reveals that not all of the hype around the digital assets may be legitimate and could even show signs of wash trading.
Nansen’s Analysis of the Industry
The non-fungible token sector took the cryptocurrency world by storm this year and quickly expanded beyond it. NFTs reached mainstream media, businesses, prominent sportspeople, musicians, actors, and more.
The rapid growth resulted in skyrocketing trading activity. Now, though, Nansen, a blockchain analytics platform, found out that NFT’s “remain spotted by certain profit-seeking practices.”
Certain transaction patterns are giving the impression that new token founders are buying large sums of their assets at a low price. This could mean that they are deliberately buying and selling the same asset back and forth to create an illusion of high demand – a practice known as “wash trading.”
However, Nansen analyst Ling Young Loon says that their evidence is by no mea
Źródło: https://cryptopotato.com/research-possible-wash-trading-within-nft-trading-activity/
