Cointime

Cointime

Download App
iOS & Android

NFT Analytics Platform Flagged 80% of Recent Trades on Blur As ‘Wash Trading’

Cointime Official

Leading NFT data aggregator CryptoSlam claimed that 80.5% of sales volume on NFT marketplace Blur since February 14 has been wash trading.  CryptoSlam is taking action to remove nearly $500 Million in wash trades, retroactively as well as applying an updated algorithm to prevent future wash trades.

However, the estimate has doubled since Monday, reaching above $1 billion. At the same time, CryptoSlam explains that “these actions are taken to protect NFT investors and ensure the industry has clarity and trust in data reported on the website.” Ultimately, the data aggregator claims that the data simply “misrepresents the whole NFT market.”

"A marketplace held up by 80% wash trading is not sustainable." Web3 investor Ahi.eth explained on Twitter. "Say what you want about OS, but they aren't playing the deceptive wash trading games like Blur."

Wash trading in an NFT marketplace refers to the practice of artificially inflating the trading volume of a particular NFT by executing fake trades between two or more accounts controlled by the same person or group of people. The goal of wash trading is to create the appearance of high demand for a particular NFT, which can then attract more buyers and drive up the price.

Wash trading is typically considered a form of market manipulation and is often prohibited by NFT marketplaces. It can be difficult to detect, however, because the trades may appear to be legitimate on the surface. Some signs that wash trading may be occurring include unusually high trading volumes or a lack of diversity in the trading activity.

Wash trading can have negative effects on the NFT marketplace and its users, as it can distort the true market value of an NFT and create a false sense of demand. It can also harm honest traders who may be competing with artificially inflated prices. As such, NFT marketplaces may take steps to detect and prevent wash trading, such as implementing trading limits or monitoring trading patterns for suspicious activity.

NFT
Comments

All Comments

Recommended for you

  • BTC Falls Below $78,000

    Market data shows that BTC has fallen below $78,000, currently priced at $77,977.99, with a 24-hour increase of 1.9%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Trump States the U.S. Will Not Leave the Strait of Hormuz

    On May 2, U.S. President Trump stated that the United States will currently "not leave" the Strait of Hormuz. He defended the U.S. blockade actions, describing them as "very strong." Trump claimed that the blockade measures are effective and asserted that once the war is over, energy prices will significantly drop. "After this war ends, the prices of oil, gas, and everything will plummet," he said. He also praised the U.S. stock market for reaching historic highs and noted that projects during his administration are being completed "on time" and "on budget." (Jinshi)

  • Trump: Personally Inclined Not to Restart Bombing Operations Against Iran

    On May 2, U.S. President Trump stated that he ultimately has two options regarding Iran: either escalate military action significantly or reach an agreement. 'There are indeed options. Do we want to go in and blow them to smithereens to solve the problem once and for all? Or do we want to try to reach an agreement? Those are the options on the table,' Trump said. He also confirmed that he had just received the latest briefing on military options from the U.S. Central Command the previous night. Trump expressed his personal inclination not to restart bombing operations. 'From a humanitarian standpoint, I prefer not to do that,' he said at the White House. (CNN)

  • Trump: Unsatisfied with Iran's Latest Proposal

    On May 2, U.S. President Trump stated: 'Regarding Iran, I am not satisfied with the latest proposal. We are negotiating over the phone, and I am not sure if we can reach an agreement.' (Jinshi)

  • Benset: The Blockade Will Continue Until Iran Restores Pre-War Freedom of Navigation

    On May 1, U.S. Treasury Secretary Benset posted on the X platform, stating that it is difficult for a mouse in a sewer pipe to know what is happening in the outside world. Here are some 'realistic scenarios' for the Iranian leadership—after all, they are indeed in a dark state of information isolation: 1. The U.S. has complete control over the Strait of Hormuz. 2. There is a shortage of hard currency (i.e., U.S. dollars). 3. Rationing of food and gasoline has been implemented. 4. The entire international community has turned against you. 5. The blockade will continue until freedom of navigation is restored to what it was before February 27.

  • BTC Surpasses $78,000

    Market data shows that BTC has surpassed $78,000, currently priced at $78,016.69, with a 24-hour increase of 2.13%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Crypto Exchange Startup Fun Secures $72 Million in Series A Funding

    Crypto exchange service startup Fun has disclosed that it has completed a $72 million Series A funding round, led by Multicoin Capital and tech venture capital firm SignalFire. Other participants include Infinity Ventures, Pharsalus Capital, and Tinder co-founder Justin Mateen. This funding transaction was completed in January of this year but was only made public recently. Fun declined to disclose the valuation of this funding round.

  • ETH Surpasses $2300

    Market data shows that ETH has surpassed $2300, currently priced at $2300.19, with a 24-hour increase of 1.6%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Tether: Q1 Net Profit Reaches $1.04 Billion, Total Assets Approximately $191.77 Billion

    Tether's Q1 2026 performance report reveals that the company achieved a net profit of approximately $1.04 billion amid a highly volatile global market, with excess reserves rising to a record $8.23 billion. As of March 31, 2026, Tether's total assets were approximately $191.77 billion, with total liabilities around $183.54 billion, of which about $183.44 billion corresponds to issued digital tokens. This results in assets exceeding liabilities by $8.23 billion, while the circulation of USDT remained stable, with total token-related liabilities around $183 billion. In terms of reserve structure, Tether continues to focus on short-duration, highly liquid assets, holding approximately $141 billion in U.S. Treasuries, making it the 17th largest holder of U.S. debt globally. Additionally, its reserves include around $20 billion in physical gold and approximately $7 billion in Bitcoin holdings.

  • Israeli Media: U.S. 'About to Decide' on Resuming Military Action Against Iran

    On May 1, Israeli media reported that the United States is 'possibly about to decide' whether to resume military action against Iran, with Israel intensifying preparations to respond to a potential 'renewed conflict' with Iran. According to Israel's Channel 12, Israeli officials are on 'high alert' and preparing for the possibility that U.S.-Iran negotiations could collapse as early as early next week. The report cites senior officials in the Israeli government stating that the U.S. may increase pressure on Iran regarding the Strait of Hormuz and could launch military strikes against Iran's energy facilities and government infrastructure. (Xinhua)

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company