Bitcoin, ether perpetual volumes on Kalshi are dominated by an unusual, repetitive trade, data shows
CoinDesk found one $5,499 trade size accounting for 57% of sampled ether-perpetual volume, while recurring $2,500 and $5,000 trade sizes made up 54% of sampled bitcoin-perpetual volume.
Make preferred on
Share this article
Summary
- Trades valued near $5,499 accounted for $7.7 million, or 57 percent, of the Kalshi ether perpetual-futures volume CoinDesk analyzed from Sept. 17 through Sept. 20.
- Recurring fixed-dollar trades appeared on 43 of 46 sampled dates since June, suggesting automated trading and raising concerns that a small number of participants may be driving much of the market’s reported activity.
- Kalshi’s public data does not identify the traders or establish any wrongdoing, and the exchange did not explain who produced the repeated trades or why their target values changed.
