Bots are manipulating the value of digital currencies on cryptocurrency exchanges, the Wall Street Journal has reported.
These automated trading programs allow traders to operate faster than a human would be able to but setting rules for trades, submit orders and enabling automatic execution. They are not automatically bad, but can be utilised for manipulative ends.
Nevertheless, the WSJ partially blames this “rampant” activity on a lack of regulation in the sector. According to trader Kjetil Eilertsen, who developed market manipulation tool Quatloo Trader, it would be pointless to ban such activities.
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