Great news! It means that Votecoin finally overcome 10k USD daily volume. It's important step for VOT project that shows increasing interest to Votecoin
If you looked at the actual trading activity rather than looking at CMC volume you would see that it is mainly wash trading
Interesting. How can you tell it is wash trading? It looks like there is significant downward pressure as of lately, so yea those were not real buyers likely.
I don't have screen grabs at the moment but around 22nd November at 9am if i recollect (a little b4 cmc listing VOT) we started to get transactions showing a buy, about every 15 mins +/- 3 mins, value about 13k +/- 3k VOT - the prices it showed filling at were always within the spread by about 2 sat. This would imply posting an offer 2 -3 sat below the best offer and hitting it immediately from another account before it shows on the order book. The cost is commission and no net change in position - ie it is inventory neutral
Around the same time a much smaller model was set up, again on a regular schedule +/- a few mins, buying 10-15 vot at the ask price
Occasionally this "accumulation" pressure reversed but i never track it as it only amounted to about 50-100 vot per hour
Intersperse with this are occasional "real" trades
The period and size of these patterned trades have changed and you can only see them as far as the history shows so no way to demonstrate unequivocally without access to the history (API anyone)
I just took a cursory glance and the pattern is still there but the baseline numbers have change on the wash trading - it looks like a slightly wider range (6k-15k) but it still looks to be 15m +/- 3 mins
