What is Transaction Mining: Way to Boost New Exchange Volumes
Cryptovest
Published Oct 11, 2018 04:01PM ET
Updated Oct 11, 2018 05:21PM ET
What is Transaction Mining: Way to Boost New Exchange Volumes
Looking at the volumes reported by CoinMarketCap, it is easy to note that some exchanges are achieving extraordinary results. CMC labels those exchanges as “transaction mining” marketplaces, and excludes their data from the overall price and volume statistics for the leading coins. Recent analysis from CryptoExchangeRanks (CER) looks at the patterns on some of the most prominent new exchanges, and sees the effects of transaction mining on volumes.
Transaction mining is a simple mechanism - it rewards those who place trades by reimbursing their trading fees through the issue of new exchange tokens. The chance to receive new tokens to compensate for transaction fees has led to regularly increasing volumes.
The rapid ascent of transaction mining has led the crypto community to believe that new exchanges are perfor...
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.