According to Nomics, a Coinbase Ventures-backed provider of crypto trading data, just 17% of bitcoin trading volumes are trustworthy, while this figure drops to 8% in the case of ethereum.
The company calculates these trading volumes, which it calls transparent volume, by adding the trading volumes of a cryptocurrency in several exchanges.
This transparent volume is later divided by the total "official" trading volume in order to find out the percentage of transparent volume.
Nomics has a ranking of 167 exchanges based on their transparency in terms of data sharing. Some well-known trading platforms such as Coinbase Pro or Binance can get A or A+ if they share not only their trading volumes, but also their complete trading history and raw trade. On the other hand, other exchanges get a D when they only share their ticker data, their 24-hour volume and their trading prices.
The company has explained that both BTC and ETH show such low levels probably because these cryptocurrencies are traded on both A and D rating exchanges.
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