Topic: End of FAKE volume reporting - page 3. (Read 13693 times)
I think they know that reported volumes are fake on most of the exchanges that is why they have reported volume and also actual volume tab.Not sure about the accuracy but there are some difference to both values when we swap it.But it is always our responsibility to check the accuracy of any exchanges.
For this space or crypto market to grow while attracting institutional investors, this issue of fake volume needs to be taken into serious consideration if not could have a negative effect in the near future. Furthermore, the first step towards solving this issue starts with CoinMarketCap this is because they need to enforce exchanges to do the right thing which they can't run from.
Fake volume is an headache for a lot of traders and crypto enthusiasts, an adequate measure should be taken yo stop this bad altitude of majority of exchanges that fond of using it.
This is the truth and gradually becoming the other of the day. Most exchanges just display fake volumes to attract users while within, there is nothing to offer. I think the first step into solving this issue starts with CMC, if they can implement strict regulations or measures most exchanges will be forced to display the real data the way it is and it will be an added advantage to this space.
Seriously you stated it right, reporting bad volume is indeed bad for this space as it is gaining the attention of the public. It will be indeed bad for investors to get associated with exchanges only to realize there is fake volume within.
Furthermore, I think for this to be corrected CoinMarketCap has a big role to play and the sooner the better, as credibility is the keyword in any successful exchange or project.
Furthermore, I think for this to be corrected CoinMarketCap has a big role to play and the sooner the better, as credibility is the keyword in any successful exchange or project.
End of fake volume reporting would also mean end of some exchanges. For example Bithumb or Okex are good candidates for the end since coinmarketcap will not list them as the biggest exchanges and thus reduce their credibility.
Recently there was a scandal that exchanges fake trading volumes in order for people to trade more. There's nothing you can do about it. Just don't trade on these exchanges.
I was checking out some cryptos on coinmarketcap and one of them had an * that said that it was not being counted towards the total volume. So I do think they take actions against fake volumes.
Based on individual experiences, most especially for those who have been trading for some time now, we can still tell,without any statutory or regulatory body coming in first, the exchanges that have volume, from those that do not have enough as they claimed to have.
The use of bots on some exchanges has really made trading difficult.
The use of bots on some exchanges has really made trading difficult.
It hurts the community if people are being shown with fake volumes from these exchanges and from coinmarketcap as well, traders and investors want to see the real picture, so they can make a good decision where to invest their money.
There are many exchanges that are faking volume. Some reports show that there is up to 90% wrong volume reports. With market developing i am sure there will be more strict rules and penalties.
I think this is the next step in crypto for further development.
There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.
I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.
I think this is the next step in crypto for further development.
There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.
I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.
Yes. I really agree with what you say. I found a market run with bots to play with prices. Even if you sell at the purchase price, your coins will remain unsold. Bots keep buying below the selling price. While the history of exchange trading continues. I really experienced this myself, and made me disappointed with this condition. Because the exchange does not show real exchange. And they do not do neutral in exchanging.
Sometimes fake volumes are pushed by malfunctioning telegram eth bots that give wrong values
Or a single bot trade in exchange
Coinmarketcap should do more to fix this
As much as we are calling Coinmarketcap for years to fix this issue, I doubt that they do such actions. I mean they are in the business of making money so why fix now? As far as wash trading or fake volumes, everyone should be very careful though so you won't be a victims by pump-and-dump groups, bots and even the exchange itself.Or a single bot trade in exchange
Coinmarketcap should do more to fix this
I mean they are in the business of making money so why fix now?
because we need honest services. because everyone should help reporting what's wrong.
Do you want to defend what is wrong? Are you nervous? Do you create fake volumes too?
There are many exchanges that are faking volume. Some reports show that there is up to 90% wrong volume reports. With market developing i am sure there will be more strict rules and penalties.
I think this is the next step in crypto for further development.
There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.
I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.
I think this is the next step in crypto for further development.
There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.
I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.
When i saw this tittle , I was hoping to see some news that it is already happened.
It would be only logical to see that, but it wont happen so soon. It means that every country where these exchanges are located should make specific laws for crypto exchanges. I dont see this happening so soon unfortunately.
In all fairness it is enough that China enforces such a law, most large exchanges are based there.
The problem here is that governments of countries don't care about this. Considering all troubles and worries that governments have about cryptocurrencies, fake volume is the tip of the iceberg.
it's happening everywhere, fake volumes and fake prices for many coins, even when we report to coinmarketcap they dont care. it's hard to trust anyone on this market.
No need to trust anyone,just make your research before investing a single penny to the chosen project. Even small projects can be a game changer with huge development in a long time. Fake volumes are done by trading bots in general."No need to trust anyone" + "Even small projects can be a game changer"
then you trust some small projects, your sentences are contradictory.
finding fake volumes is part of research.
Sometimes fake volumes are pushed by malfunctioning telegram eth bots that give wrong values
Or a single bot trade in exchange
Coinmarketcap should do more to fix this
As much as we are calling Coinmarketcap for years to fix this issue, I doubt that they do such actions. I mean they are in the business of making money so why fix now? As far as wash trading or fake volumes, everyone should be very careful though so you won't be a victims by pump-and-dump groups, bots and even the exchange itself. Or a single bot trade in exchange
Coinmarketcap should do more to fix this
Sometimes fake volumes are pushed by malfunctioning telegram eth bots that give wrong values
Or a single bot trade in exchange
Coinmarketcap should do more to fix this
Or a single bot trade in exchange
Coinmarketcap should do more to fix this
it's happening everywhere, fake volumes and fake prices for many coins, even when we report to coinmarketcap they dont care. it's hard to trust anyone on this market.
Fake volume is a big problem. But an even bigger problem is that such exchanges are in the top at the CMC, and yet people unconditionally trust this site. As a result, scammers get free advertising for their scam exchanges, people come there hoping to sell their coins at a bargain price, and face problems such as liquidity, bots, and problems with withdrawing funds.
There are many exchanges that are faking volume. Some reports show that there is up to 90% wrong volume reports. With market developing i am sure there will be more strict rules and penalties.
I think this is the next step in crypto for further development.
There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.
I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.
Coin market making profit from the trading sites so they are going to you stay with the favour of them not with the uses because they are giving this service for free. But it is better to give the the right thing what they are doing rather than asking their reputation for money and they even climb that they just reporting volume from the exchanges so we need to have verify the value true or not. I think this is the next step in crypto for further development.
There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.
I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.
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