{"id":141074,"date":"2024-10-31T21:30:28","date_gmt":"2024-10-31T19:30:28","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=141074"},"modified":"2024-10-31T17:01:14","modified_gmt":"2024-10-31T15:01:14","slug":"concerns-rise-over-fake-volume-on-polymarket-as-token-launch-looms","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/concerns-rise-over-fake-volume-on-polymarket-as-token-launch-looms\/","title":{"rendered":"Concerns Rise Over Fake Volume on Polymarket as Token Launch Looms"},"content":{"rendered":"

A recent Fortune report<\/a> <\/strong>cites analyses from blockchain firms suggesting that around one-third of the trading volume on Polymarket\u2019s presidential market may be due to wash trading, which is illegal in traditional finance due to its potential to misrepresent market demand and pricing.<\/p>\n

A representative from Polymarket responded to the accusations by emphasizing the platform\u2019s transparency. They noted that taking positions on both sides of a market isn\u2019t uncommon and is not inherently problematic. Polymarket maintains that it prohibits any form of market manipulation in its terms of service.<\/p>\n

The report also speculates that these wash trades might be linked to potential plans for Polymarket to issue its own token, with wash trading often used to qualify for token giveaways\u2014a practice known as \u201cairdrop farming.\u201d Prominent crypto investor Nic Carter suggested that this airdrop farming is a more plausible motive than any political agenda related to upcoming elections.<\/p>