Trading volume inflated on JustSwap DEX - And the culprit is...
JustSwap, a Uniswap clone, recorded over $360 million of trading volume in an unknown token, raising suspicion that the exchange is rife with wash trading. This comes at a time when the largest DeFi tokens are struggling to trade over $150 million of daily volume. Source
Tron, Tron, I am honestly not picking on Tron and Justin Sun lately as I shared a post on Justin Sun claimed Tron users exceeds world population in less than a week ago. I just can't help but stop at every controversial headline covering JS.
It appears numbers are the problem lately on that chain as this time it had to do with inflated trading volume. You don't want to be on Justswap with the intention of swapping tokens and end up with no real liquid as the DEX accounted for unverified token worth $364 million trade volume.
It’s highly likely that these numbers are being fudged by malicious actors, albeit there is no solid evidence to support this. That being said, Ong and the CoinGecko team are keeping a close eye on JustSwap’s volumes. He said: “Justswap has been quite notorious with their trading volume inflation and we are taking a stricter approach with things here.” Source
Frequent controversy over an entity or a person is really not good for business and this is commonly know about Tron or maybe because we had a personal encounter with JS/Tron but it baffles me how activities still exist on that chain.
I wonder who is the culprit in this case, if you ask me obviously with no evidence I will say its Justin but not sure about the Sun.
We owe it to ourselves to make Hive great
Image by @doze
