Topic: CoinMarketCap faking volume - page 3. (Read 16772 times)
If they were involved in faking volume, would it not affect the price as well? I think users who do have continuously watching over cryptocurrency movements might have so much to say about this. They could probably be the one to really confirm such activities. But given that there might some statements by CMC that strengthens such belief but it might be just because of some discrepancies to their reports and the statements they have made thus not actually confirm they are faking it. It is hard to directly say without any clear evidence. There are so many cryptocurrency in their list and it would be so hard to update all because not one cryptocurrency is very stable. Sometimes volumes and prices moves up or down from time to time.
I don't think coinmarketcap faking volume, exchanges are doing.
This is a more accurate description of the faking in the market.But coinmarketcap is helping them to do so.
How are they able to help the team in faking the volume, they just report, it's their system that are functioning .
I wanted to report an exchange with obviously fake volume but there weren't any option about that.
Like OP is doing, you can write your own thread here together with your proof, this would help the community to know the real standing of a specific site.
Nowadays, I don't rely on CMC for exchange volumes but rather only on coins that I'm following and see whether there are drastic changes on their 24-hr volume and pricing. For volumes, I go straight into an exchange that I frequent and check the order books and market depth. This, IMO, is better than having to rely on a third-party service such as CMC to do the checking for you. Besides, a lot of people know that they've been doing this for years now, and it's literally not news anymore for them to fake volumes.
I myself am not new to this either, just like in the social media, fake news and everything but here in the cryptoworld some of us already know what CMC are doing, faking volumes are one of their huge cases back then and after for a while I thought that they've stopped doing this, and if they're still doing it then I don't think its going to be fully reliable.
I don't think coinmarketcap faking volume, exchanges are doing. But coinmarketcap is helping them to do so. I wanted to report an exchange with obviously fake volume but there weren't any option about that.
That's the point, the fake start from these exchanges that try by all means to fake volumes. Recently, had visited some exchanges, behold what i saw was different from what they display as their trade volume. What's the reason to fake trade volume? can't get that. Volume or no volume, investors will always approach the best exchange to trade.
I don't think coinmarketcap faking volume, exchanges are doing. But coinmarketcap is helping them to do so. I wanted to report an exchange with obviously fake volume but there weren't any option about that.
I think we should elimination them,but there are still many people visiting CMC everyday compared to other similar service. I do think most of the visitors still use it for personal purpose like checking price of their trading news.
Don't get it. Can somebody explain to me, if you are given set of data to calculate with, won't your calculations be based on the data provided?, if yes, so be it to coinmarketcap but if no, explain. Coinmarketcap calculations are based on their data extract provided by exchanges and based their judgement on their data. Nothing is be fake here because "garbage in, garbage out". They are not faking volume according to OP.
I only enter on cmc to check prices and nothing more as more and more people are talking about the fake volume on cmc. Besides this even if the volume would be fake there are a lot of new money entering into crypto currencies.
I also noticed this from coin market cap I felt it was probably from my internet connection the rate at which the prices where fluctuating where quite not normal.
But that issue must have been settled by now because this are very normal of late
There are some errors on the part of the site especially if the market is very active. But that issue must have been settled by now because this are very normal of late
Like what is happening now, BTC is moving up and some altcoins are also moving good, sometimes it creates some discrepancies but I don't see it as serious one.
I noticed a lot of wrong data from coinmarketcap, many altcoins in the market exchange like binance or livecoin have larger trading volumes but they are displayed small in coinmarketcap, I'm afraid they are not neutral anymore.
I also noticed this from coin market cap I felt it was probably from my internet connection the rate at which the prices where fluctuating where quite not normal.
But that issue must have been settled by now because this are very normal of late
There are some errors on the part of the site especially if the market is very active. But that issue must have been settled by now because this are very normal of late
Like what is happening now, BTC is moving up and some altcoins are also moving good, sometimes it creates some discrepancies but I don't see it as serious one.
I also noticed this from coin market cap I felt it was probably from my internet connection the rate at which the prices where fluctuating where quite not normal.
But that issue must have been settled by now because this are very normal of late
But that issue must have been settled by now because this are very normal of late
I never observed anything of such, and maybe because I wasn't really expecting much because of the generally poor market value. Besides I seldom check the coin market cap at this time.but I don't think coin market cap should be involved in such.
I have check many time coinmarketcap always have correct information about price and transaction volume based on how coin price in exchange market, always have the same price, volume and how many exchange support some altcoin.
the volume of many exchanges is also false .. I think that the way to calculate or to do the metrics in coinmarketcap is not the right one, we must look for better metrics to calculate the cryptocurrencies ... that other platforms exist ?, I have seen several options , but they have almost the same CMC data
They are just basing everything with the exchange so same results will appear as cmc also gaining their data's from what exchange gives them, it's easy being manipulated as bot and the exchange itself can fake things around, needs to be very careful before believing with any reports that showing aroundthe market make your own assessment if you are going to invest.
average volume on overall exchangers or markets that it listed and when a certain exchange manipulates or do have that pump then it will normally affect on whats being
shown on CMC.
I seriously did not expect to have so many posts on this thread and I must say that the arguments/discussions made in the posts below were quite remarkable.
Reading the posts I could say that there were mixed reviews from many users. Some say that this is not new and it has been going on from a long time while some were surprised to know this.
Some people don't think that CMC is faking volume while some say that they are definitely faking it. Some say that it is the exchanges that are providing the fake volume resulting in CMC inflating the price while some say that CMC is corrupt and is faking volume just for money.
My conclusion is that CMC might be involved in such activities but they say that they will improve the metrics. While we should definitely not completely reply on CMC, we should wait on what changes they bring on the metrics. It depends on us on how much we trust CMC and we should decide on our own and derive our own statistics when it comes to fetching volume of various coins.
Also, a user posted this site "https://openmarketcap.com/" as a better alternative and I think it's worth a try. Let me know in comments what do you guys think of OMC.
Reading the posts I could say that there were mixed reviews from many users. Some say that this is not new and it has been going on from a long time while some were surprised to know this.
Some people don't think that CMC is faking volume while some say that they are definitely faking it. Some say that it is the exchanges that are providing the fake volume resulting in CMC inflating the price while some say that CMC is corrupt and is faking volume just for money.
My conclusion is that CMC might be involved in such activities but they say that they will improve the metrics. While we should definitely not completely reply on CMC, we should wait on what changes they bring on the metrics. It depends on us on how much we trust CMC and we should decide on our own and derive our own statistics when it comes to fetching volume of various coins.
Also, a user posted this site "https://openmarketcap.com/" as a better alternative and I think it's worth a try. Let me know in comments what do you guys think of OMC.
You shouldn't trust the data provided by one website anyway, exchanges both new or even more reputable ones faking volumes more than ever and getting busted by authorities depending on that country's law constantly, south korea for example caught couple of exchanges faking a huge amount of volume either it was for all of their listed tokens/coins or some specific ones, bithumb and upbit are two examples of exchanges that has been caught by south korea government.
the volume of many exchanges is also false .. I think that the way to calculate or to do the metrics in coinmarketcap is not the right one, we must look for better metrics to calculate the cryptocurrencies ... that other platforms exist ?, I have seen several options , but they have almost the same CMC data
They are just basing everything with the exchange so same results will appear as cmc also gaining their data's from what exchange gives them, it's easy being manipulated as bot and the exchange itself can fake things around, needs to be very careful before believing with any reports that showing aroundthe market make your own assessment if you are going to invest.
I am also thinking the same that how they can be benefited by faking the volume. Anyway they do not have data all the trades happening in the world. They should remove bogus exchanges from their site but what is their motivation in doing so?
I am not sure coinmarketcap is doing that or is that a delay in capturing the live data, yes anything can be done if they are paying them to do so, if that is the case their credibility will be at stake and the possibility of new exchanges to fake the volume is to attract new customers and advertisers, since there are plenty of exchanges people will look for the exchanges with a good volume to carry out the trade smoothly, other than that there is no benefit. 
All big exchanges and most mid and little ones do wash trading. CMC just reports it. Except for the volume, there are also other indicators, say, ratings, that may help in taking your decision.
the volume of many exchanges is also false .. I think that the way to calculate or to do the metrics in coinmarketcap is not the right one, we must look for better metrics to calculate the cryptocurrencies ... that other platforms exist ?, I have seen several options , but they have almost the same CMC data
Jump to: