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Litecoin metrics are being faked by one guy spamming many transactions over and over to create the illusion of usage. Last time they faked their volume coinbase got fined $6.5M by the CFTC.

Litecoin metrics are being faked by one guy spamming many transactions over and over to create the illusion of usage. Last time they faked their volume coinbase got fined $6.5M by the CFTC.

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Can the LTC community explain the mass of fan-out, fan-in transaction going on on LTC? https://blockchair.com/litecoin/transactions?s=input_count(desc)&q=time(2021-10-15%2000:00:00..)#f=hash,block_id,input_count,output_count,time,output_total

scroll down to those 500:1, there are mass of those transactions each day.

Then sort by output_count and repeat the scroll

Add: then take a look at any address involved, like https://blockchair.com/litecoin/address/LTRtAbzT3ecWJ82kUcYv28Bo2hzZGRJSBG

Scroll. $0.01 cent pushed around, going on for months.

Senders:500 Recipients:1

Senders:1 Recipients:1001

That I call bullshit, until some explanation who and why is doing that.

Coinbase was charged and fined $6.5 million dollars for washtrading by their employee at the time, likely Charlie Lee the creator of Litecoin. It seems this is his goto strategy to pump his coin: https://www.cftc.gov/PressRoom/PressReleases/8369-21

Edit: I saw u/homopit post this info but not sure who the original author is.

Edit 2: now Censored from r/CryptoCurrency , didnt bother posting on r/litecoin because they have r/bitcoin level censorship there. So for the guy asking why its posted on r/BTC , its because its censored in every other crypto subreddit.

submitted by /u/Oscuridad_mi_amigo
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