I think sooner or later someone will make a report or article about manipulation on decentralized exchanges
Topic: ㅤ (Read 155 times)
Why there's no suspension for the centralized exchanges if they're can't make their exchanges clean enough regarding the fake volume? this mean asking the whole customers to submit KYC isn't the way to solve this issue. I think everyone who did KYC already wasting their time and didn't get anything since they're not making the exchanges better, but the exchanges and government already got their KYC.
I think sooner or later someone will make a report or article about manipulation on decentralized exchanges
I think sooner or later someone will make a report or article about manipulation on decentralized exchanges
Everything in crypto market volume is fake unless it will all be regulated.
What's the guarantee that it will not turn into another fake volume, just that it favors more to some players instead of the exchange themselves? Honestly, it's difficult to trust anyone in this space, the conflict of interest is very clear and there's no way in hell a neutral third-party reviewer can exist.
Regarding the fake volume, no surprises there as that's the industry standard - everything that can be faked is faked.
I agree on this, although... I start to also think that somebody may want to force independent audit for (all?) exchanges from financial institutions, actually targeting the traders who "forget" to declare their profits in full.
After CZ bought CoinMarketCap, this service became the same as Binance. It broadcasts unreliable and fake data.
Even though I am not fan of CZ, CoinMarketCap improved after he took it over as they used to be even worse before that. Few years ago it was normal for a 2nd tier scammy exchanges like P2PB2B or HitBTC to appear on the top of the list of exchanges, while now they are nowhere near the top, which is a good thing for those newbs that are mainly using CMC and are deciding where to trade based on that list. Regarding the fake volume, no surprises there as that's the industry standard - everything that can be faked is faked.
Quote
We apply volume discounts based on a proprietary methodology that relies on 10 factors such as an exchange’s home regulator if any and volume metrics based on an exchange’s web traffic and estimated workforce size. We also use the number and quality of crypto licenses as proxy to gauge the sophistication of each crypto exchange in matters pertaining to regulation and trade surveillance.
Eh....I'm not so sure I trust mainstream financial media or their headlines, and especially any statistical methodology that resembles the above. But hey, that's me and one person's opinion--my own.
The big question in my mind is this: How big an issue is bitcoin volume reporting (or any discrepancies related to same) as long as traders can satisfactorily get their trades through without getting ripped off? There's no question that volume ought to be accurate, but having seen the history of a lot of exchanges over the years, inflation of trading volume seems like it should be near the bottom of the ladder in terms of importance. Financial solvency, transparency, and yes, regulation are bigger issues that really affect the average crypto trader.
Some regulation would be a good thing. A lot of it might be a nightmare, and headlines like this one don't help things IMO. If only Forbes took a look at the trollboxes of some of the "grittier" exchanges, they'd probably realize that a lot of people aren't looking for protection except for exchanges scamming them--which many of them have, going back to Mt. Gox and probably earlier (right?).
Thanks for posting this, though. I'd give you a merit or two, but Theymos has forsaken me it seems.
The data spread is huge. The most inflated volumes are shown by exchanges such as Binance, MEXC Global and Bybit. Well, there was never much doubt about Binance, as they like to lie and embellish, especially when it comes to their BNB token. After CZ bought CoinMarketCap, this service became the same as Binance. It broadcasts unreliable and fake data.
Oh but wait, BiNanCE is tRuSTed centralized exchange and they wouldn't do something like this 
They all probably want to look better than they are in reality, and I think for shitcoins they even charge a special fee for making this fake volume.
To be fair, even in fiat world most of the things are fake, like rigged inflation numbers (people know it's much higher), and I think same could be said for fiat trading platforms and real estate.
Jump to: