The simultaneous purchase and sale of crypto assets is called wash trading. Read this guide to understand the purpose of a wash trade.
Why is wash trading a problem for the NFT space?NFT wash trading is a problem for investors, the global community, collectors and traders because these participants use less liquid nonfungible tokens to manipulate the price of an asset.Due diligence has become more difficult as investors have been forced to rely on measurable statistics, making wrong investment decisions. To encourage NFT investments and prevent NFT scams, discrepancies in the data must be investigated by specialists. Additionally, NFT crimes hit the NFT community the hardest. Regulators and proponents of mainstream financial services can now use wash trading to combat decentralization.Collectors and traders, likewise, are unable to make an informed judgment. When deceptive facts and history mislead people regarding a piece o
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