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Over $30B of NFT Trading Volume on Ethereum Is Wash Trading, Research Suggests

by Blockchain Daily Report
December 24, 2022
in Bitcoin
Reading Time: 1 min read
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Over $30B of NFT Trading Volume on Ethereum Is Wash Trading, Research Suggests
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The researcher used 4 filters to weed out odd buying and selling habits that almost definitely pointed to scrub buying and selling. First, they filtered out apparent trades of NFTs between the identical pockets deal with. Second, they checked out back-and-forth trades of the identical NFT between two completely different pockets addresses – one of the frequent wash buying and selling techniques. Third, if a pockets deal with had bought the identical NFT three or extra instances, it was flagged as a wash commerce due to the unlikeliness of the state of affairs. Lastly, if a purchaser and vendor in an NFT transaction had wallets that have been first funded by the identical pockets, it was apparent that there was a connection between them and was due to this fact flagged as a wash commerce.



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