Kalshi's ether perpetual futures market is under scrutiny for potential wash trading after analysis showed nearly half of ETH-PERP volume clustered around a single trade size, raising doubts about trade authenticity. The pattern persisted over hours, with trades maintaining a fixed dollar value despite ether price changes. Similar patterns appeared in other Kalshi perpetual markets, suggesting possible volume inflation through repeated trades and incentives. While public data can't confirm wash trading due to lack of participant info, the unusually high turnover and trade patterns have drawn criticism, with Kalshi defending its liquidity incentives but not directly addressing the allegations in its perpetual futures business.
Kalshi's ether perpetual futures market faces wash trading allegations. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Sep 22, 2026 02:02 WIB: Among 50 major cryptocurrencies priced on Pluang, 43 rose and 6 fell today. Notably, XNO (Nano) gained 20.77% with a typical hold time of 86 days and a strong 85% sell order activity, contrasting with DOGE (Dogecoin) which rose 15.24% and had a more balanced order activity at 46% sell and 54% buy. EGLD (MultiversX) also increased by 12.05%, showing a dominant 71% buy order activity and a typical hold time of 84 days.
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