Topic: Fake volume in exchanges - page 4. (Read 1213 times)
This is really an emerging issue in cryptocurrency market, It really has to be tackled, and I think setting up a regulatory agency is one way of doing that. Another disturbing issue is bots manipulating prices, all these have to be regulated.
Found an interesting article in which one guy did some datamining on some popular exchanges and their volumes:
https://medium.com/@sylvainartplayribes/chasing-fake-volume-a-crypto-plague-ea1a3c1e0b5e
Apparently a few of these giants are falsifying their volumes. Maybe because a higher market cap would make people think it's a more trustworthy exchange? I don't know if it's really worth going through all of that effort.
Would this have a major effect on the prices? I know we used to see huge differences in prices in the past, but now you won't see much more than a few percent here and there between exchanges.
https://medium.com/@sylvainartplayribes/chasing-fake-volume-a-crypto-plague-ea1a3c1e0b5e
Apparently a few of these giants are falsifying their volumes. Maybe because a higher market cap would make people think it's a more trustworthy exchange? I don't know if it's really worth going through all of that effort.
Would this have a major effect on the prices? I know we used to see huge differences in prices in the past, but now you won't see much more than a few percent here and there between exchanges.
Yes, I also noticed that some exchanges add volumes. But I thought it was the admin tokens pay them for it
...
"I still hope in the future there will come something
like changelly only better and faster so everyone can
trade directly from their wallet.
"
like changelly only better and faster so everyone can
trade directly from their wallet.
"
Sometimes it could be the work of some devs of certain tokens. I've seen it before. They try to get their tokens rank top 5 by volume so that traders with huge amount can trade them because there's liquidity.
All exchangers which I ever used showed much higher prices for crypto than official course on the marketcup. I think it's done just to attract investors and traders and there is no any big mystery behind this.
"Very helpful post. I always thought some of the volume
numbers looked strange, but didn't know they could be faked!
"
numbers looked strange, but didn't know they could be faked!
"
As I'm already tired of these manipulations in the market, I think that not long left to manipulate the market, after regulating the market, will no longer be so brazenly played by the market
This is very important thing for newbie but also this is old issue i think.Every exchange is not showing fake volume i'm talking about Binance,Poloniex,Bittrex and Hitbtc are pretty good exchange and their position is top.I have not seen any fake volume yet.Because those are highly trustworthy.
Many teams and devs are falsifying the volume of their coins to attract buyers and investors.
It is very easy to scam investors by showing them a wrong volume or to make the buy volume very high specially on small exchanges.
It is very easy to scam investors by showing them a wrong volume or to make the buy volume very high specially on small exchanges.
Thanks for letting me know about this fake volume in exchange. I am new to crypto and did not know actually this type of dirty tactics are applied here. All cryptos should be aware of these scams and fakes.
I have read a news about this one or two months ago on how the U.S. Government had conducted a probe or investigation to this exchanges about giving their customers/users misleading information in order to manipulate the market in their liking which I have not seen any update about the results of the investigation. This does show that market spoofing really is happening especially in the less regulated market. Before their were fake bids and fake orders now the exchanges have the ability to give fake volume to mislead the public, this kinds of things shouldn't be looked on the other way as this is some next level fraud.
Many exchanges are faking volume as doing this they can be benefited in many ways. They can obtain venture capital interest and get more users to their site using fake volume in their exchange.
systems like this can be very easy to use, to boost their exchange, for example, they can play their own money regularly to get the desired volume, in my opinion that is a strategy.
It's just a way for them to attract more people to exchange in their exchange. Exchangers are really making a lot of money in every trade happening in their site. I don't think it would affect much on the price since there may be volume but if no one is buying or selling then nothing. That's what I think at least.
I agree to the full 100%. Many investors read and create their impression on the basis of feedback from other investors and on daily trading volumes on the crypto exchange.
This causes trust. But how to check the real volumes?
This causes trust. But how to check the real volumes?
This really shocking news. Actually many coins are doing fraud in this market. They want to make money by deceiving people. Such thing can affect their price but investors need to be careful when investing. Do not get attracted by the price and volume only.
This is absolutely absurd. I would suggest to not to trust these fake volumes. All the exchanges like this actually aims to gather people attention towards them by faking volumes.
I don’t think it can affect the market cap or price but the new customer will be misguided and by faking their volume they will try to be higher in the list of top exchanges.
Bitcoin you observe find out it relies heavily on its trading volume. We even found manipulative prices in the previous coinbase but then they took control of it and now it works well. Most trading floors are unchecked, so that they display false information sometimes boosting prices higher.
We all know that crypto market is highly manipulated and it’s too volatile. We even saw price manipulation in coinbase before but they later had it under control and now performing well. Most of the exchanges are unregulated so it’s for them to show false information sometimes to drive prices higher. The best exchanges are Binance, Coinbase, Huobi are some great exchanges now.
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