Topic: End of FAKE volume reporting - page 4. (Read 13693 times)
Yes i agree, i already see the data so many exchange with fake volume even popular exchange. That's why i like binance because from data which i already seen binance not include as exchange with fake volume
The most things in this industry are fake and this is done to attract more attention to exchanges, projects and so on. The real problem is that even CMC is cooperating with scammers like IDAX exchange, this is truly sad.
I think it was already obvious, you can see a place getting too much attention and their volume is also high so you kind of understand how big they are, you go on forums and reddit and social media and everywhere you look you see binance as the king of all exchanges. Then there are small god knows who uses this type of awful places that nobody talks about and they are getting a ton of volume on the lists, well you tend to not trust them at all. I have personally been involved in many ICO as a team member and my teams have reached out to exchanges to get listed and they were giving away market making bots to us to buy and sell our own coin to make it look like our volume is up which works for them too because while our coin gets more attention their website getting more volume as well.
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.
you are very correct. After the issue of fake volume came up in the cryptocurrency space many projects are now accessing many exchange before they go into it. But still with all this being said, some exchange still show fake volume on their exchange 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.
This is very difficult to control. Many ICOs just want to trick investors, so they give false figures. The sad thing is that until now there is no specific solution to change this problem, what we can do is to always be cautious of our decisions.
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.
Recently, even many TOP exchanges manipulate volumes, not to mention small ones exchanges. . How can stop it? While there are no such control organizations, we can only trust the honest reputation of the major exchanges.Therefore, I don’t really trust CMC information. I think professional traders are aware of these and everyone has their own analysis mechanism.
I have seen that cmc is not showing fake/false volume for some tokens. Take a look at topbtc. CMC shows volume excluding topbtc's volume. I always find that exchange dodgy. They manipulate the total volume like other exchanges, always wash trades. I thank CMC for this initiative. We need fair atmosphere otherwise crypto will bever be the main stream of finance
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.
Coingecko did said some time ago they will put an end to fake volume reported by exchanges, i am still waiting how tha pawn out frimt coingecko end. As far as CMC is concern i don't think they have it in plan to stop fake volume by exchanges. 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.
Virtually every exchange does it in the industry today! Only a few a presenting genuine volume and that is associated with the heavy or larger exchanges. Fake volume has been a major challenge in the industry for a very long time and it has caused a whole lot of damage. Its about time something useful is done to stop it.
It is very easy actually.
In coinmarketcap they can add a "report fake volume" tab, and if some exchange giving fake data, they can delete it. Also it is very easy to spot fake volume. Just open a shitty exchange with huge volume and choose their biggest volume pair, you would see.
The small exchanges like ZB, EXMO, Coinbene, Bitgogo usually use the trading bots which puts fake high bids and low asks on the price order book. Fake volume can be tricky for attracting the new traders and arbitrage lovers. It is a trap, don't fall to it. There is no way to detect the true volume on each exchange one by one AFAIK. In coinmarketcap they can add a "report fake volume" tab, and if some exchange giving fake data, they can delete it. Also it is very easy to spot fake volume. Just open a shitty exchange with huge volume and choose their biggest volume pair, you would see.
It is impossible to exclude fake volume, every big exchange has the possibility to create several bots/scripts which would make a volume on any trading pair.
I tried to trade against bots and could say to you, alive person can do nothing against.
I tried to trade against bots and could say to you, alive person can do nothing against.
There will not be any penalties.. For what? Crypto exchanges are not stealing money or not paying taxes. There is no rule that they have to report real volume and thats why the do it. 
No one request them to follow the rule but every users will be looks for exchanges which is legit and trustworthy towards. let them follow for their own betterment.One more thing here no one goes to invest on the fake exchanges sharing such reports. Everyone knows the good exchanges they will go for it.
I think we can do something as a community. Fake volumes are not helping us. New people who actually does not know abut wash trading or fake volume are usually the great sufferer. And unfortunately coinmarketcap and services like that already aware on this situation but may be they get some benefits from those exchanges. But we should work on this. We cant do a good job by any bad means. Crime always gives birth of another crime. Honestly, I think that these problems will be solved soon. Crypto cold war is already started and we will see massive adoption. But we need to solve problems like these.
Lets start : https://coinmarketcap.com/request/
Another job for cmc but I doubt they will look into this matter at the moment. They need staff to investigate for these problems. Wash trading is common to almost all of the exchanges even the top ones. If you are an old timer, you will know if wash trading is happening. What a new and small trader can do is, learn the ins and outs first in crypto, study the project that he wants to do the trading with. If he knows what's going on with that platform, he will basically know if the volume is fake or not.
If you do talk about top tier or popular exchangers then its almost impossible for you to spot it out but if you are somehow
an experience one then spotting on some circumstances is possible and also these wash trading or fake volumes can be easily to spot
out on non or small exchangers.
There will not be any penalties.. For what? Crypto exchanges are not stealing money or not paying taxes. There is no rule that they have to report real volume and thats why the do it.
I think we can do something as a community. Fake volumes are not helping us. New people who actually does not know abut wash trading or fake volume are usually the great sufferer. And unfortunately coinmarketcap and services like that already aware on this situation but may be they get some benefits from those exchanges. But we should work on this. We cant do a good job by any bad means. Crime always gives birth of another crime. Honestly, I think that these problems will be solved soon. Crypto cold war is already started and we will see massive adoption. But we need to solve problems like these.
Lets start : https://coinmarketcap.com/request/
Another job for cmc but I doubt they will look into this matter at the moment. They need staff to investigate for these problems. Wash trading is common to almost all of the exchanges even the top ones. If you are an old timer, you will know if wash trading is happening. What a new and small trader can do is, learn the ins and outs first in crypto, study the project that he wants to do the trading with. If he knows what's going on with that platform, he will basically know if the volume is fake or not.
I think we can do something as a community. Fake volumes are not helping us. New people who actually does not know abut wash trading or fake volume are usually the great sufferer. And unfortunately coinmarketcap and services like that already aware on this situation but may be they get some benefits from those exchanges. But we should work on this. We cant do a good job by any bad means. Crime always gives birth of another crime. Honestly, I think that these problems will be solved soon. Crypto cold war is already started and we will see massive adoption. But we need to solve problems like these.
Lets start : https://coinmarketcap.com/request/
The bots are mostly the cause of the fake volume and problems with sell/buy orders. The huge number of reports on fake volume on the various exchanges is causing a lot of problems for the world of cryptocurrencies. This is a bad image as many people would lose interest in participating in trading activities on the exchanges.
there are exchanges do the fake pump, especially those new exchanges that offers erc20 tokens..
This is a real issue that needs to be sorted ourt. Most exchange on CMC uses bots to report fake volume which is misleading to crypto traders. If CMC can real data from exchange it will help reduce manipulations and bring in new investors
I heard that there was an update regarding this issue. where some assets are not good, and listed on exchanges that are not supported, they will no longer be in cmc. there must be sorting for exchange, so that the assets seen and registered in cmc are also true and do not cause fraud. Jump to: