Bitcoin Forum

Wash trade is out of hand
https://openmarketcap.com/exchanges/difference

I don't understand how to say this is a web app for checking volume and prices, but not mentioning all the exchanges listing a coin I take the ethereum example. After a fairly high volume is on latoken but when I look for latoken I can't find it?

The gap is very wide but I notice their list is very limited compared to coinmarketcap that it has long list of active project they better add more coins that is performing well in the market not only the top 50, but I like the transparency, this is another good option.

This is another mcap source: https://messari.io/onchainfx

I believe CMC will soon incorporate the same metrics, lots of discussion has occurred on Twitter and they are open to hearing from everyone. https://twitter.com/CoinMarketCap/status/1110401659409219585

They should, it's the investors that they should protect, not the developers, investors wants transparency, they want to see the real volume and price, so they can decide effectively, CMC is huge but people will begin to look for other option if they don't shape up.

Those price and volume monitoring web are not accurate and sometimes the exchanges are generating fake volume that's why coinmarketcap sometimes pick up a different volume than the actual volume.

There is a huge difference in trading volume you know why? Coinmarketcap is getting data on hundred exchanges but openmarketcap only on few trusted exchanges.

Yes it's true that some data displayed on CMC are not exactly the way they should be. With respect to trading volumes, some volumes displayed for some exchanges are actually fake, but CMC has done a lot to curb this. I won't mention names of some exchanges but I've experienced that personally when I wanted to sell a token, after going through the CMC data, what I saw on the exchange was totally a nightmare. Not withstanding, CMC is still the best out there for coinmarketcap info.

it turns out the gap is too far, i didn't realize it all this time.
i think what is in CMC is the real truth and i believe in them.

if this continues many people will lose confidence in CMC.

After all these years we now see the real picture and it looks bad for coinmarketcap, we have been deceived for so many years, it's time for them to give us real-time statistics and or else many investors will just look for another market cap in the market.

Yes, this is a list of exchanges that OpenMarketCap trusts.
https://openmarketcap.com/exchanges

As I can see, there are about 30 trusted exchanges in the list.

Honestly, I was surprised to see a difference of -95% between the trade volume in Bitcoin.

I am just confused on what it will benefit coinmarketcap to do that, they are not exchanges for us to have said they are using it to hype their platform in order to gain relevance, coin market is still the most popular for now and I don’t think there is any strong competitors, bitcoin is also a decentralized market and not being controlled by anyone for me to also conclude that they have been bribed to do so but whatever their purpose of doing so is, they just have to reverse it before it gets too late for them which is also bad for the market as this will discourage a lot of investors and make them see crypto as scam.

I think that is one of the reason that people invest in bad coins thinking they are performing but not understanding that volume are hyped for people to get in. It is not really a good idea.

This is unbelievable and I still cannot get why people are buying this. I wanted to make an arbitrage deal between two exchanges and it was said that the prices vary, but as soon as I have realised that the difference between real buying and selling order is around 20 bucks, I realised that I would never trade on Bitforex and P2PB2B exchanges :)

Yes it is indeed a big distance but people still believe in Coinmarketcap, maybe after knowing this people will know that it's not real volume.

OMC is the real killer of CMC :D They provide a real metrics that is really useful in trading decision and real picture of the current market condition.

Say goodbye to wash trading exchange platorm

 :D So what will be the failure again on the main positions? What is the strategy of friends? I heard a few interesting bounty goes to top exchanges, such as WPP - can we wait for the growth of this coin?

The volume difference is too much, is the data and calculation methods of this website accurate?

They have been called out as far as I can remember in 2017 wherein they willing to accept ponzi or scam advertisements. That alone already speaks what their reputation is all about. And then follow by the fake volumes.

We don't know if they deliberately do it to mislead investors but it's all speculation. I guess they really need to straighten things out and let the public know.

Real volumes have only 10 exchanges out of all represented on the coinmarketcap, I was convinced of this trying to trade on birs included in the top 20, there are almost no people, bots are trading among themselves, my orders are simply ignored, be careful.

Exchanges use fake volume all the time because everyone wants their exchange to be in the top list. It's nothing new man. Most of the projects are even using bot to auto trade for them.

That is a huge discrepancy. Many exchanges creates fake volume and investors should be aware of, that some projects are a big bubble and it is  not safe investing in them.

That is a common thing happen today and maybe since before that CMC prices is a little bit different with in the exchanges cause of its changes happens all the time. It sometimes we question of its market volume and some exchanges used this to fool traders and investors, that is why we should to be more vigilant and never buy those coins when we suspected fake volumes.

I read a publication that most of these exchanges inflate their trade volumes which reflects on coinmarketcap. They use the trick to attract investors for listing. You can read the full article here;
https://cafe4apps.net/most-bitcoin-trading-faked-by-unregulated-exchanges-study-finds/

I don't think the fake data is coming from CMC but rather it is coming from the exchange itself this is why it is very hard to tell which data is real and which is not real.

What cmc does is that they take the average volume of all exchanges based on the api access given by the exchanges to cmc, this is why when you see a manipulation from cmc it doesn't mean that cmc manipulated the market, it just mean that one of the exchange listed in cmc has been manipulated.

I think this situation isn’t worth an. Hassle or argument
When you get certain percentages increase or decrease on coinmarketcap

Just go to the exchange platform and verify all

I already saw some topics about cmc fake volume. But are the exchanges in the CMC's list the same as those calculated by the OMC? The difference is too big.

Many projects are using bots for creating artificial liquidity for their coins. Exchanges are also generating fake volume to be more attractive to  their customers. Long term, this bubble will burst.

Enyone surprised because of that? I think that feature(i mean washtrading) was launched from the beginning of cryptocurrency exchanges, they just compete each other and it is normal in that industry.. Volume, hype, a place under the sun - its just a business imho.

Interesting questions that are really very interesting to understand. I think that all this is exclusively abstract data, because there are very interesting situations when prices just fall, then capitalization on these resources falls. Everything here is very fragile.

It is not new that the exchange can manipulate the volumes on their exchange with bot trading.
how did you get the real volume ? did you just calculate the volume only from trusted exchanges ?

I believe in the volume calculated by the exchanger, that is the actual data. circulation that occurs on the exchanger and is calculated in realtime

There is a good alternative to coinmarketcap https://cmc.io/
I like this platform more

Actually, I don't feel annoying with the real or fake volume data between the exchanges because I only see what I watch on the exchange, one by one. But CMC or OMC could be our guide to determine the next trend or whatever information we want to search with that website. Maybe many people can say that one website has a fake volume data and it's not worth to follow, but if you compare with the other site, then you might get the same data. So for me, as long as I can see what is happening in the market, I don't need to take a look at the CMC or OMC because by watching on the market, we can get the real data or information.

I found CMC volume info is pumped. I think the reason is some exchanges with fake volume is listed there. Real volume must be half of this for sure.

That volume on cmc is real update or not?
fake volume can make exchange market on the top list market caps
thats like free advertisement for them . so no wonder why many exchange manipulate the volume

Here it is necessary to understand that there are very unstable data that directly depend on many factors on the market. I think that many people here already understand that when prices fall, total capitalization falls very quickly.

So are you saying you don’t believe that exchanges do manipulate their volume when it is all over the media with facts and proof that they do so, which is very wrong, I know they do so to attract more users to their platform since nobody wants to associate with exchanges that has low volumes of trade.

But, there should be a limit to everything, once they have got the number of users and volume they want, they ought to have desist from the practice and reverse back to the normal way before everyone gets exposed to their practices. Exchanges do manipulate dear and it’s the fact.

right, the site is not included in detail the results of comparison between exchanges. There is only the result of the volume of the coin.
It could be that the two platforms have different amounts of exchange comparison, resulting in a considerable difference

Its real updating  wash trades, (fake data)

Truly it's the fact mate since if you visit the exchange site listed as huge volume in CMC you will find out that they are not real and  I actually notice so many of them and they do that just to boost up there rankings and make there exchanges believable so that people will go and find them good. And for this manipulation happening we should be more aware and careful so that we will not stock up on make a wrong decision upon  trading so always put in our minds that trade only on big exchange not in the new one who came up big on its data's.