Coinsuper Abruptly Among the Top 4 Crypto Exchanges
Coinsuper exchange which was nowhere to be seen is among the top four exchange, after Binance,OKEx and Huobi. It has risen from the 16th to fourth in about a month. While it is possible for the new market to see robust volumes, the sudden growth of volumes to nearly $1 billion is puzzling, and once again raised comments on the techniques for faking volumes on exchanges.
Recently, Coinsuper launched its CEN token, not listed on CoinMarketCap, in order to support the exchange ecosystem, also known as the Coinsuper Ecosystem Network. Coinsuper will also implement transaction mining from July 16:
Launch of Transaction Mining
Transaction mining will officially go live on Coinsuper at 12:00, Jul 16 2018 (GMT+8). We look forward to your participation!#Coinsuper #CEN #Crypto #Mining #Trading #Blockchain pic.twitter.com/g5oJzEicql
— Coinsuper (@Coinsuper_OFCL) July 15, 2018
A form of reward system for trading is transaction mining. This way, Coinsuper is incentivizing its volumes. This is still not anything like fake volumes, but may make the CEN digital asset more prominent.No coins are mined, but users see a forfeiture of fees, and a reward of up to 500 CEN, for trading and transacting on the exchange.
“The mining progress of the hour and the day will be shown on the homepage and the account page respectively. Continued trading activities beyond the limits will be charged the standard trading fee with no CEN reward,” explained the exchange in a recent publication.
Buying and holding onto exchange tokens, even ones that promise rewards or dividends, may be yet another risk. The model of Binance is being copied on new exchanges, but their security and other qualities are still untested. And since crypto exchanges are largely unregulated, orders and liquidity pose risks for staged activity.
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