Topic: High Litecoin Volume On Chinese Exchanges Remains Mystery (Read 969 times)
It is mostly likely fake volume. No fees = bots buying/selling to themselves millions of times a day.
On BitcoinWisdom, 30 day volume of Bitcoin on Chinese exchanges is:
6.9 million
For Litecoin it is:
197 million
There are about 13 million Bitcoins in circulation right now, so 50% with Bitcoin. There are 32.5 million Litecoins so that's over 600%.
Can somebody at least answer why the Litecoin volume is so much higher on a % basis than in Bitcoin?
These numbers look normal to everyone?
6.9 million
For Litecoin it is:
197 million
There are about 13 million Bitcoins in circulation right now, so 50% with Bitcoin. There are 32.5 million Litecoins so that's over 600%.
Can somebody at least answer why the Litecoin volume is so much higher on a % basis than in Bitcoin?
These numbers look normal to everyone?
No trading fees alone cannot explain this much volume.
Why not? BTCChina had no fees for Bitcoin trading last year and the volume was huge, but it dropped like a rock when they introduced fees.
If it was a couple hundred thousand coins then maybe, but 10,000,000 Litecoins a day on OKCoin?
So there's basically just bots trading hundreds of thousands of coins an hour? Who runs the bots?
It would not really surprise me given that It's a speculation and minings project,
It's big and has gained exposure due to being second to Bitcoin, and a target for miners, aswell as having others build their code off litecoin.
Usefulness due to being attractive to margin traders and other large holders of bitcoin, as it is easier to manipulate than bitcoin, and is unlikely to drop significantly more in value, or go away as people tend to value networks uptime into their equation. Also counting in the fact of uptime, analyzing can easily be done to earlier surges and and drops in correlation to bitcoin, which also adds another element of belief when it goes up or down as people can predict this becoming a self fulfilling prophecy.
My view of LTC, that being said Chinese exchanges has previously been known to juke their volume stats (can't remember which exchange that was in 2013) but the volume you speak of is plausible given that chinese exchanges had 72% of marketshare when I looked 1 month ago.
I don't find it weird 0% trading fees causes a trading frenzy
It's big and has gained exposure due to being second to Bitcoin, and a target for miners, aswell as having others build their code off litecoin.
Usefulness due to being attractive to margin traders and other large holders of bitcoin, as it is easier to manipulate than bitcoin, and is unlikely to drop significantly more in value, or go away as people tend to value networks uptime into their equation. Also counting in the fact of uptime, analyzing can easily be done to earlier surges and and drops in correlation to bitcoin, which also adds another element of belief when it goes up or down as people can predict this becoming a self fulfilling prophecy.
My view of LTC, that being said Chinese exchanges has previously been known to juke their volume stats (can't remember which exchange that was in 2013) but the volume you speak of is plausible given that chinese exchanges had 72% of marketshare when I looked 1 month ago.
I don't find it weird 0% trading fees causes a trading frenzy
No fee is a way to get volume high, you can buy and sell all day without have to worry..
No trading fees alone cannot explain this much volume.
Why not? BTCChina had no fees for Bitcoin trading last year and the volume was huge, but it dropped like a rock when they introduced fees.
Strange 
ever happened to Bitcoin also .
ever happened to Bitcoin also .
The Litecoin volume on OKCoin and other Chinese exchanges are very high.
Does anybody know the reason for so much volume? No trading fees alone cannot explain this much volume.
For example, on OKCoin there is often more than 10 million Litecoins trading hands a day... but there are only 32.5 million Litecoins in circulation!
Full story:
http://bitcoinpricelive.com/chinese-litecoin-volume-remains-mystery/
Does anybody know the reason for so much volume? No trading fees alone cannot explain this much volume.
For example, on OKCoin there is often more than 10 million Litecoins trading hands a day... but there are only 32.5 million Litecoins in circulation!
Full story:
http://bitcoinpricelive.com/chinese-litecoin-volume-remains-mystery/
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