A Bloomberg headline recently claimed that “more than 90% of stablecoin transactions aren’t from real users,” sparking concern about the authenticity of transactions within the blockchain ecosystem. 

This isn’t the first time that the digital assets industry has faced scrutiny about an apparent lack of authenticity in transactions. Last year, the SEC accused Binance.US of inflating trading volumes. Way back in 2019, a study by Bitwise found that 95% of spot bitcoin trading volume by unregulated exchanges was faked. Both findings have their detractors.

This isn’t the first moral panic around crypto’s legitimacy, and it won’t be the last.

However, a deeper dive into this…

Read more on Blockworks