Topic: Cryptocurrency exchange volume: More fake than real? - page 3. (Read 697 times)
I understand the business tactics behind it. But how far its true the exchanges have set up the volume to that extend. I understand the competition behind each exchanges. This just covers the investors to their exchanges. But is that going to affect the market? I am bit confused about. I dont think this would affect the market growth of crypto currencies.
I think faking wouldn't get you that far in business though, like yeah you would get some users seeing your high volume but at what point can you keep it up, you can't do that forever. At one point an exchange needs to realize their volume is mostly fake and not real and the real ones make them the money so after certain time if the real is not enough than the business can't sustain.
You have to have high volume to make a lot of money from trading fee, if you do not have high real volume than you won't be making too much money neither which will result with you at one point saying "we are not making money enough" and closing the exchange via either regular ways or "hacking" that you basically steal everyone money and leave. That is why even if a place does 50% of fake volume than I do not trust them.
You have to have high volume to make a lot of money from trading fee, if you do not have high real volume than you won't be making too much money neither which will result with you at one point saying "we are not making money enough" and closing the exchange via either regular ways or "hacking" that you basically steal everyone money and leave. That is why even if a place does 50% of fake volume than I do not trust them.
It's pretty obvious that those exchanges new or even some established one as really faking their volumes. Maybe the question is why they are doing this fraudulent practices?
One reason I see is that to attract noobs investors, because competition is very tough this days, specially that we are still in the bearish cycles.
in the world of trade sometimes there are those who commit data fraud, the aim is clear to be able to look successful and be able to attract investors sometimes the way they cheat can they do. so we all must be careful and always careful if there is something that offers great benefits without us struggling to participate in the struggle, immediately report it to the authorities if we suspect data that does not make sense. One reason I see is that to attract noobs investors, because competition is very tough this days, specially that we are still in the bearish cycles.
According to Exchange Advisory List, only 2 exchange sites gives you real volume both Bitfinex and Binance are found that giving real volume compared to other exchange sites.
Look at the recent report below.
Source: https://www.blockchaintransparency.org/
But this is not 100% that both well-known exchanges don't have fake volume this is what Blockchain transparency institute report.
Much better to follow BLOCKCHAIN TRANSPARENCY INSTITUTE or this https://twitter.com/bti___ for the latest report.
Look at the recent report below.
Source: https://www.blockchaintransparency.org/
But this is not 100% that both well-known exchanges don't have fake volume this is what Blockchain transparency institute report.
Much better to follow BLOCKCHAIN TRANSPARENCY INSTITUTE or this https://twitter.com/bti___ for the latest report.
Firstly, all crypto currency exchanges site are once guilty of the fake volume list which I believed we all know that coinmarketcap was either. However, I dont trust much in the exchange adisory list because there's no point for top exchange site like coinbase etc will provided fake volume.
Faking of trading volume is quite common with the exchanges. This fake volumes were to enrich the trading through those exchanges. Quite often if some inspections were made over the exchanges there will not be no big issues with this fake volumes. In the past when the fake volume was found, drastic market crash took place and this too is mentioned as a reason for etf rejection.
It is like a norm already in crypto exchanges. So use only the trusted exchanges. The longer you use a particular exchange, the less worry you will have on them. New ones are really scary to use, you don't know if you can get your coins back.
HitBTC even takes it further, their withdrawal fees is just so ridiculous... Never use that exchange if you plan to use it.
Faking of trading volume is quite common with the exchanges. This fake volumes were to enrich the trading through those exchanges. Quite often if some inspections were made over the exchanges there will not be no big issues with this fake volumes. In the past when the fake volume was found, drastic market crash took place and this too is mentioned as a reason for etf rejection.
I wouldn't be surprised about that. They always do those fake reports so that traders think that there's a lot of trading going on in a specific site. Marketing strategy consists of some lies.
Thank God it is called marketing strategy and not scam, if I was to be in their shoes too, I would do the same thing, I know a lot of people will be looking at me as a bad person but these actions of theirs is being influenced by us and I term it as a reprisal for our judgment.Majority of us tend to judge these exchanges at the early stage of their life when they still have low volumes and we look at them as not qualified enough to hold or handle our trades because of their low volume meanwhile they might have the capacity to do so even with low volumes. Now with that fake report, they have been able to gain the attention of trader who are still performing well on the same platform they believe was not worthy because of low volume.
The faking of volume can't be proven. All accusations of volume faking are merely based on speculations. We can't tell that the market is manipulated unless we.can prove them. This is the effect of decentralized together with the anonymity of the system.
It is not a strange thing anymore as it is being used as a part of marketing strategy by (usually) new exchanges to attract users. The hard competition between exchanges makes them to do such thing in order to get interest from traders. It is maybe also happen in any other bitcoin/crypto related services.
You are right, this isnt already a surprising thing anymore where exchangers do potentially fake out volumes for the sake of hyping up their exchange to gain users that do easily being hooked out
with huge numbers.
As a trader you should be aware on fake and real ones to avoid such problems further on.
If two different analytics name the same cryptoexchanges, they can be trusted, I guess. Those are Binance, Bitfinex, Kraken, Gemini (the largest ones).
It is not a strange thing anymore as it is being used as a part of marketing strategy by (usually) new exchanges to attract users. The hard competition between exchanges makes them to do such thing in order to get interest from traders. It is maybe also happen in any other bitcoin/crypto related services.
Most of the suspicious exchanges show some really ridiculous volume and once you login to trade you see a different data from the one you saw before looking I think some exchanges are really manipulating things
According to Exchange Advisory List, only 2 exchange sites gives you real volume both Bitfinex and Binance are found that giving real volume compared to other exchange sites.
But this is not 100% that both well-known exchanges don't have fake volume this is what Blockchain transparency institute report.
Much better to follow BLOCKCHAIN TRANSPARENCY INSTITUTE or this https://twitter.com/bti___ for the latest report.
But this is not 100% that both well-known exchanges don't have fake volume this is what Blockchain transparency institute report.
Much better to follow BLOCKCHAIN TRANSPARENCY INSTITUTE or this https://twitter.com/bti___ for the latest report.
i'm pretty suspicious of these guys. their domain registration is private. nobody knows who they are. they popped up out of nowhere when the USA government starting investigating bitfinex/tether for market manipulation. and what are their results? obviously that bitfinex and the largest tether exchange (binance) are legit and everyone else is faking! lol.....
I wouldn't be surprised about that. They always do those fake reports so that traders think that there's a lot of trading going on in a specific site. Marketing strategy consists of some lies.
According to Exchange Advisory List, only 2 exchange sites gives you real volume both Bitfinex and Binance are found that giving real volume compared to other exchange sites.
Look at the recent report below.
But this is not 100% that both well-known exchanges don't have fake volume this is what Blockchain transparency institute report.
Much better to follow BLOCKCHAIN TRANSPARENCY INSTITUTE or this https://twitter.com/bti___ for the latest report.
Look at the recent report below.
But this is not 100% that both well-known exchanges don't have fake volume this is what Blockchain transparency institute report.
Much better to follow BLOCKCHAIN TRANSPARENCY INSTITUTE or this https://twitter.com/bti___ for the latest report.
That is not true. If you scroll further down their page, you would see this:
And if you read it further it would say: Full trusted exchange rankings here (which leads to this link: https://www.blockchaintransparency.org/december-2018-rankings)
According to Exchange Advisory List, only 2 exchange sites gives you real volume both Bitfinex and Binance are found that giving real volume compared to other exchange sites.
Look at the recent report below.
Source: https://www.blockchaintransparency.org/
But this is not 100% that both well-known exchanges don't have fake volume this is what Blockchain transparency institute report.
Much better to follow BLOCKCHAIN TRANSPARENCY INSTITUTE or this https://twitter.com/bti___ for the latest report.
Look at the recent report below.
Source: https://www.blockchaintransparency.org/
But this is not 100% that both well-known exchanges don't have fake volume this is what Blockchain transparency institute report.
Much better to follow BLOCKCHAIN TRANSPARENCY INSTITUTE or this https://twitter.com/bti___ for the latest report.
Some Article claims that the percentage is even more, 95% of Reported Bitcoin Trading Volume Is 'Fake'
Fake trade volumes are actually a reality
This is most done by small budding exchanges... I don't think a reputable exchange like binance can do that because they have spoil their reputation through such a simple cheap act.
Fake trade volumes are actually a reality
This is most done by small budding exchanges... I don't think a reputable exchange like binance can do that because they have spoil their reputation through such a simple cheap act.
The fake volume is all about the market competition which involves manipulations. Every product wants to climb on the other product to shine. I think this is simply what this is.
Jump to: