"Holders" are not "users".
It is possible that there are maybe 20 million bitcoin holders who never had a wallet. But one should not trust the numbers claimed by Coinbase etc. >>
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>> MtGox boasted more than a million clients, but after its collapse it was found that the *active* accounts were much, muc fewer.
Bitcoin banks like Coinbase must inflate their numbers to keep up with the competition. There is no auditing and no penalty for "creative counting"
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Yes, and all exchanges and "crypto banks". Only by a much bigger factor
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Trading volume in crypto exchanges can be inflated by wash trades. They are illegal in stock markets, but there are no regulations or monitoring of crypto markets. >>
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>> If an exchange claims 10 million clients but has only 100'000 and its software can handle only 1000 simultaneous users, it will crash during big price moves anyway.
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Of course they will.
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eh some exchanges fake numbers, some do a bit, some don't.
happy to give info about which do and don't! and what I think the *real* numbers are.
Everyone will try to present themselves in a good light; if they say "X users" with no more color, it's probably total registered, not daily active; and lots of exchanges fake volume.
But some don't fake any volume. Generally ftx.com/volume-monitor is good for real volume.
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in terms of users -- idk what other exchanges' numbers are, but my guess is roughly, across all exchange combined, the _real_ numbers are:
100m users
5m DAUs
$100B daily volume
$30m daily revenue
$15m daily profit
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