Topic: Sudden Surge of BTC Volume on Prime XBT - Why? (Read 113 times)
They have a history of lying which is on par with blatant scams requiring little effort from the scammer, see PrimeXBT - High chance of being a scam. At this point, it would be weird if they aren't faking volume by a huge margin
I searched for any positive news and did not find it during this month, so the increase is either because a large whale entered the platform or manipulated the price in an attempt to convince investors that it is a good platform for exchanging currencies.
Whales never go to any exchange that doesn't already have a high volume, they need liquidity for their trades and if the order books are thin (the main reason for low volume) they won't even be able to perform any trades let alone make any profit.The only possibilities are either growth in number of users or reporting fake volume. I say the chance of the latter is higher.
What is suspected there is they use fake volume so that they can get attention just like what we discuss today, I agree for what other says since whales will never risk there huge amount of money even if that is the amount which they can afford to lose on the platform which is not known or reputable to much on the investors. But lets still see maybe they are gaining attention but I still doubt about that situation.
I searched for any positive news and did not find it during this month, so the increase is either because a large whale entered the platform or manipulated the price in an attempt to convince investors that it is a good platform for exchanging currencies.
Whales never go to any exchange that doesn't already have a high volume, they need liquidity for their trades and if the order books are thin (the main reason for low volume) they won't even be able to perform any trades let alone make any profit.The only possibilities are either growth in number of users or reporting fake volume. I say the chance of the latter is higher.
I searched for any positive news and did not find it during this month, so the increase is either because a large whale entered the platform or manipulated the price in an attempt to convince investors that it is a good platform for exchanging currencies.
Before using this platform, you should think about the trading volumes and the previous indicator is dangerous, so I do not advise you to invest in it during the coming days until the current trading volumes are confirmed.
Shortings in the bitcoin price after the price drops may increase trading volumes on derivatives platforms.
Before using this platform, you should think about the trading volumes and the previous indicator is dangerous, so I do not advise you to invest in it during the coming days until the current trading volumes are confirmed.
Shortings in the bitcoin price after the price drops may increase trading volumes on derivatives platforms.
I noticed that myself and got confused. It might be the copy traders just getting rekt or something (all at once).
It's normally between 1 and 2 billion a day. There might have been an increase because of binance forcing (afaik) people to kyc too to trade.
It's normally between 1 and 2 billion a day. There might have been an increase because of binance forcing (afaik) people to kyc too to trade.
What is the cause for the massive volume on Prime XBT? In one week its up over 50x and randomly went back down for one day (12/3).
460M - 11/27
13B - 11/28
37B - 11/29
54B - 12/2
2B - 12/3
58B - 12/4
71B - 12/6
460M - 11/27
13B - 11/28
37B - 11/29
54B - 12/2
2B - 12/3
58B - 12/4
71B - 12/6
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