Wash trading with crypto exchanges - page 2.

LeGaulois

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Quote from: davis196 on May 09, 2019, 01:24:27 AM

What's that "BTI verified" sign?How can this BTI company verify that those exchanges aren't faking their trading volume?Or this is just some marketing trick so more people might choose the crypto exchange platforms that are "verified",while they fake their trading volume too?
I will continue to repeat that centralized crypto trading platforms are no better than banks.

It's not the first research about wash trading but this time they used different algorithms for several months. Several exchanges use the results to fight the wash trading occurring on their platform. Huobi, for example, is one of the exchanges with a lot of WT but they decided to take actions, Huobi even joined DATA for this reason.

davis196

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What's that "BTI verified" sign?How can this BTI company verify that those exchanges aren't faking their trading volume?Or this is just some marketing trick so more people might choose the crypto exchange platforms that are "verified",while they fake their trading volume too?
I will continue to repeat that centralized crypto trading platforms are no better than banks.

Maslate

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We know this is happening, that's why we have to be careful in choosing an exchanges.
Based on the list now in coinmarketcap, it wasn't Binance as the largest exchange, but the hacker knows the real largest exchange and that's why Binance was hack.

Let's just be more educated, and OP although I read this already, I'd like to thank you effort for sharing this.

legendster

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Quote from: akamit on May 08, 2019, 06:33:38 PM

1% real volume is insanely low compared with the reported volume... That's really insane.

Quote from: legendster on May 08, 2019, 11:23:53 AM

However, there's one thing to remember, most wash trading is done by projects to boost of their own token's daily trade volume.

Maybe Trading Competitions are playing a vital role for fake trading volumes?

With trading competitions, they are not really trying to hide it. The very reason a trading competition takes place is to boost the coin's traded daily / weekly / monthly volume, and I think that's okay as long as everything is fair.

But a trading competition attracts early investors and whales that always have the upper hand. Also, they're financially motivated to win the competition given how most cryptos that conduct trading competition start to see their asset value drop from its face value when it was first launched.

akamit

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1% real volume is insanely low compared with the reported volume... That's really insane.

Quote from: legendster on May 08, 2019, 11:23:53 AM

However, there's one thing to remember, most wash trading is done by projects to boost of their own token's daily trade volume.

Maybe Trading Competitions are playing a vital role for fake trading volumes?

legendster

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Quote from: traderethereum on May 08, 2019, 11:27:20 AM

I don't think that will be a problem for me.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.

Yeah? And then come running when the prices crash unnaturally due to market manipulation. Its high time people get their act together and start acting like a wise community and not just greedy nut jobs.

The more people start saying that they don't care about such things, the louder we as a community say to market manipulators to come and screw with our money. Are you sure you want to be part of that problem?

ololajulo

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same coin with exchanges with fake volume still remains on the list. they may not get better cause they have already made blacklist of traders and everyone is leaving. they make their money in ridiculous way, through high transaction fee and sorts, now they beg team to get token listed on their exchanges to exploit traders. wash trading is least of their worries while people monitor exchange visits daily Everyone is learning and moving to reliable exchanges and the decentralized exchanges.

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Quote from: traderethereum on May 08, 2019, 11:27:20 AM

I don't think that will be a problem for me.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.

Following bots move? I don't think that would really be an easy one.

I'm not really surprised for this wash trading yet this been happening and rampant on exchange market nowadays.If you do have keen eyes then you would probably
spot on these things.This is why exchange is always been shady where generating volume just for the sake of possible attraction.

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Quote from: Ailmand on May 08, 2019, 02:03:52 PM

Fake volumes could deceive traders. It's just disappointing that most trading volumes that we see are already manipulated but as long as we stick to our simple trading strategy, we would still be able to trade and gain without being deceived by fake volumes.

Its not that simple. Fake volume is not a threat for most people and everything in the crypto market is manipulated and centralized to an extent which is why investors won't just pull out their funds just because of manipulation in this aspect.

Ailmand

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That's the reason why we have to be observant and keen on choosing a reputable exchange. Fake volumes could deceive traders. It's just disappointing that most trading volumes that we see are already manipulated but as long as we stick to our simple trading strategy, we would still be able to trade and gain without being deceived by fake volumes.

ryzaadit

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Quote from: traderethereum on May 08, 2019, 11:27:20 AM

-snip-

How you can follow the BOT, you doing manual right. The problem of wash trading is, we can see the volume was really high but the order its really shit example at Digifinex the order its really small even i can't sell it my asset for only 100$. That's amount was pretty low for Top Rank 10 Exchange by Coinmarketcap, that's why i really hate this kind of exchange.

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Quote from: legendster on May 08, 2019, 11:23:53 AM

This is no new data. It's been discussed widely in the last few weeks. However, there's one thing to remember, most wash trading is done by projects to boost of their own token's daily trade volume. Exchanges merely facilitate this.

but if you think that the most wash trading is to boost the daily trading volume. So in each exchange that got mentioned above and the most daily trade is bitcoin.
so why does anyone will boost bitcoin daily volume which is already high from all exchange?

Genemind

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That's their way of manipulating exchanges just to make their currencies more appealing to traders which can attract more investors but it still has a negative effect on traders as well.
It's deceiving and confusing at the same time which may lead traders to create wrong decisions in trading because they could overvalue and manipulate those coins.

traderethereum

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I don't think that will be a problem for me.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.

legendster

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This is no new data. It's been discussed widely in the last few weeks. However, there's one thing to remember, most wash trading is done by projects to boost of their own token's daily trade volume. Exchanges merely facilitate this.

LeGaulois

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Wash trading is when someone buys and sells the same pair simultaneously to increase the trading volume. It's a pure form of market manipulation. Some exchanges use their own bots while some others outsource. Exchanges usually receive a lot of offers to manipulate the market on their website.

Exchanges ranking if we use Coinmarketcap data

Exchange ranking without the noise

Binance is the first by volume but still has a 10% wash trade. And while a lot of people were bashing Kraken, it's one of the most trusted exchanges regarding wash trade.

(data comes from the blockchain technology institute https://www.bti.live/reports-april2019/)

Topic: Wash trading with crypto exchanges - page 2. (Read 361 times)