Inca Intelligence, a division of the digital asset intelligence firm Inca Digital, has announced the completion of an investigation into Binance. The study found that the cryptocurrency exchange's markets are "generally very healthy," with its report revealing "minimal signs of anomalous trading activities." The findings were shared in a post on X on March 18.
"Inca Digital recently completed an investigation into Binance and the Binance ecosystem and found that across both high-cap and low-cap tokens, Binance markets are generally very healthy, showing minimal signs of anomalous trading activities," according to the post by Inca Intelligence on X. "This Crypto Intelligence Alert is part of Inca Digital's effort to foster transparent markets in crypto."
Responding to Inca Intelligence's post on X, Austin Campbell, an adjunct professor at Columbia Business School and former chief risk officer at Paxos, expressed his view that blockchain technology promotes transparency. "Contrary to the assertions of skeptics, what we find with blockchain is that it is easier, not harder, to determine what is actually going on in a market," said Campbell. He added that "Data-driven approaches can debunk narratives based on fantasy (or prejudice)! @binance looks good from this metric!"
Binance holds the title as the world's largest crypto exchange, boasting a daily trading volume of $30 trillion, according to CoinMarketCap. The exchange supports transactions involving 405 different coins.
According to its website, Inca Digital specializes in analyzing crypto markets and blockchains. Established in 2009, the company initially developed data analytics tools for INTERPOL. Currently led by CEO Adam Zarazinski, a U.S. Air Force veteran, Inca Digital continues its operations.