The legitimacy of cryptocurrencies is under constant threat from bad actors. Wash trading is a huge issue, for example, and is widespread in NFT sales: one high-profile case was exposed on a popular marketplace where 94% of $2 billion transacted was proved to be wash traded.
How did we find out about it? An NFT analytics site examined blockchain data over a period of eight days. No small undertaking, but a highly valuable service that should become commonplace if the industry is to foster trust.
Analytics and data aggregation firms are thus primed to become mainstays of the space by providing vital information on what is really happening on blockchains. In their absence, critics and regulators have been well justified in expressing doubts over the burgeoning technology.
Business applications will proliferate, too, as evidenced by major moves coming out of Chainlink (LINK). Last year, the company announced a partnership with news organization Associated Press to make its datasets...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...