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Ripple xRapid Partner Exchange Bitso Integrates with “Fake Volume” Busters Kaiko

Ripple Bitso

Bitso, a cryptocurrency exchange that is affiliated with Ripple, has been integrated with Kaiko, a platform that provides institutional grade cryptocurrency market data.

Kaiko Adds 17 New Cryptocurrency Exchanges

Kaiko announced two days ago that it had added 17 new cryptocurrency exchanges to its platform. According to the official announcement, the cryptocurrency exchanges are Binance DEX, Coincheck, Cobinhood, http://BX.in.th, Coinfloor, Bitlish, Bitbank, BtcTurk, BitForex, Bitso, BeQuant, ACX, Upbit, Bibox, BigONE, Bit2C, and BitBay. Following the addition of these 17 exchanges, Kaiko now covers 49 cryptocurrency trading platforms and is looking to add more every week.

Read: BitStamp, Coins.ph and Bitso Ripple (XRP) Transaction Volumes Spike, But Why Are Prices Stagnant?

The Kaiko team expressed their excitement on the addition of these cryptocurrency exchanges, encouraging crypto enthusiasts to “Read our product update to learn which 17 new exchanges were just added to our data collection! We will be integrating with even more in the coming weeks.

The crypto market data platform is committed to providing people with a complete overview of the cryptocurrency market. Kaiko said: “As an independent data provider, one of Kaiko’s main goals is to provide a complete 360° overview of the digital assets market. For that reason, we continuously add new exchanges to our collection.

Kaiko Helped Bitwise With Real Crypto Trading Volume

Last month, BitWise Asset Management, submitted a report to the United States Securities and Exchange Commission (SEC) which revealed that roughly 95 percent of Bitcoin’s daily trading volume is fake.

According to Coinmarketcap, the leading cryptocurrency data platform, Bitcoin records roughly $6 billion trading volumes daily. However, the BitWise report claimed that the figure is $273 million, which is just 4.5 percent of the total amount reported. BitWise team pulled its data from 81 cryptocurrency exchanges, carefully studying the Bitcoin trading volume, and comparing it to other data such as the traffic recorded by the trading platforms.

Also Read: Strong Bitcoin (BTC) Volumes Have Crypto Investors Enthused: Further Rally?

Kaiko was one of the data providers to BitWise. The data platform tweeted that “We are happy to have been one of the data providers for the @BitwiseInvest report on fake BTC volume.” Even though it currently covers just 49 cryptocurrency exchanges, Kaiko pointed out that they would continue to provide accurate data to both regular traders and institutional investors.

Despite the revelation by BitWise, the daily trading volume recorded by Coinmarketcap is high. As at press time, the daily trading volume of BTC stands at $15 billion. If the report by BitWise is accurate, then investors and market participants could look for alternative platforms, aside Coinmarketcap, for information on the crypto space.

Ripple Is A Partner of Bitso

Bitso, one of the cryptocurrency exchanges integrated into the Kaiko platform is a partner of Ripple. In August last year, Ripple announced that it has partnered with Bitso to become their preferred digital asset exchange for xRapid transactions that move via the Mexican Peso.

According to the official blog post by Ripple “Bitso – through its Mexican Peso liquidity pool – instantly converts the XRP into fiat, which is then settled into a destination bank account.” Ripple in its announcement added that Bittrex would be used for xRapid transactions that move through US Dollars while Coins.ph is used for the Philippine Pesos.

Also Read: Bitcoin (BTC) trading volume clarity actually brings ETFs nearer

Ripple has affiliated itself with several financial institutions over the past few years, and it is great to know that it is partnering with cryptocurrency companies dedicated to providing honest and excellent services to their clients.

Dalmas Ngetich
About author

Loving Crypto, Open to Technology, Engineer, Trader
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