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Title: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: notblox1 on December 18, 2019, 11:37:44 PM What happened: CoinMarketCap is listing obscure and unknown exchanges with fake volume as 'TOP' exchanges
Website: https://coinmarketcap.com/rankings/exchanges/ Archived: https://archive.is/wip/K825i CMC website should be avoided and not considered as valid and reliable. Many of exchanges from their list have Scam accusations on this forum. Just look at the list of their 'TOP' exchanges with adjusted volume. Excluding Binance (that is on 9 place) I doubt any of this exchanges volume is real. Current date stats: December 19, 2019 https://i.imgur.com/CJelvEr.jpg Is there any better alternative? - Yes, but none of them are perfect. One option is Coingecko: https://www.coingecko.com/en/exchanges Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: Furious 7 on December 19, 2019, 08:45:16 AM I prefer to see the data displayed on Coingecko and in my opinion it is accurate compared to Coinmarketcap, which often exchanges top fake volumes.
https://i.ibb.co/LZK08yt/Screenshot-8.png This is a very big difference between Coinmaketcap and Coingecko, myself to check for a good exchange at Coingecko because the data is accurate. Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: Bttzed03 on December 19, 2019, 03:18:19 PM Is there any better alternative? - Yes, but none of them are perfect. One option is Coingecko: https://www.coingecko.com/en/exchanges Find more options at Sites for Crypto Market Watch (https://bitcointalk.org/index.php?topic=5158658) Regarding CMC's volume, you can try their new metric which sorts the exchange volume by liquidity (https://coinmarketcap.com/rankings/exchanges/liquidity/) Bitforex is no. 50 base on liquidity. Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: notblox1 on December 19, 2019, 04:21:55 PM Find more options at Sites for Crypto Market Watch (https://bitcointalk.org/index.php?topic=5158658) Regarding CMC's volume, you can try their new metric which sorts the exchange volume by liquidity (https://coinmarketcap.com/rankings/exchanges/liquidity/) Bitforex is no. 50 base on liquidity. https://i.imgur.com/tAs3qp3.png Thank you, but they still have suspicious exchanges in Top list. For example, Bitrue is 8th place, BitMax is 11, Coinsbit 12, MXC 13... HitBTC is 1st place ?!?! Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: hacker1001101001 on December 19, 2019, 04:44:27 PM Thank you, but they still have suspicious exchanges in Top list. For example, Bitrue is 8th place, BitMax is 11, Coinsbit 12, MXC 13... HitBTC is 1st place ?!?! Obviously, CMC is full of misleading data on it, and I would never recommend anyone to realy on it for info. One could experience a whole bunch of threads regarding fake volumes and much more here, its basically more paid shill overall. Putting HitBTC at top is just a big LOL. Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: IconFirm on December 19, 2019, 06:20:17 PM I've been warning about CMC for over a year now, most recently a few days ago:
In the mean time they continue to post fake trading volumes at CMC... ::) CMC will report whatever figures these scam exchanges give them & have no shame - it is literally a platform for promoting scams if the bribe is right. Nobody should use this BS platform as a reference - unless they're looking for scams to avoid. Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: Sterbens on December 19, 2019, 06:37:14 PM Thank you, but they still have suspicious exchanges in Top list. For example, Bitrue is 8th place, BitMax is 11, Coinsbit 12, MXC 13... HitBTC is 1st place ?!?! Obviously, CMC is full of misleading data on it, and I would never recommend anyone to realy on it for info. One could experience a whole bunch of threads regarding fake volumes and much more here, its basically more paid shill overall. Putting HitBTC at top is just a big LOL. Do not compare data displayed Coinmarketcap because CMC data is not accurate at all sometimes with the exchange of a lot of fake volumes can be ranked first and this is indeed strange for Coinmarketcap. It's better to look at other sites on the appeal must adjust to Coinmarketcap. Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: aioc on December 21, 2019, 08:42:58 AM Thank you, but they still have suspicious exchanges in Top list. For example, Bitrue is 8th place, BitMax is 11, Coinsbit 12, MXC 13... HitBTC is 1st place ?!?! Obviously, CMC is full of misleading data on it, and I would never recommend anyone to realy on it for info. One could experience a whole bunch of threads regarding fake volumes and much more here, its basically more paid shill overall. Putting HitBTC at top is just a big LOL. Coinmarketcap just let their reputation slip and their dominance in the industry as well, for keep listing those exchanges that manipulate their volume, many new sites like Coingecko is now challenging their leadership as the number one, many are now movin gin to Coingecko for reliability. Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: virasog on December 21, 2019, 09:50:19 AM Thank you, but they still have suspicious exchanges in Top list. For example, Bitrue is 8th place, BitMax is 11, Coinsbit 12, MXC 13... HitBTC is 1st place ?!?! Obviously, CMC is full of misleading data on it, and I would never recommend anyone to realy on it for info. One could experience a whole bunch of threads regarding fake volumes and much more here, its basically more paid shill overall. Putting HitBTC at top is just a big LOL. Coinmarketcap just let their reputation slip and their dominance in the industry as well, for keep listing those exchanges that manipulate their volume, many new sites like Coingecko is now challenging their leadership as the number one, many are now movin gin to Coingecko for reliability. Even though there are lot of issues with coinmarketcap but still it is considered as the No 1 site. Coingecko has a much better data but the bitcoin community still refer to coinmarketcap when they need to know the price of a coin. Even it is considered as a privilege for the new tokens to be listed at CMC. Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: CoinClarity on December 21, 2019, 11:55:35 AM I'm not in any way trying to protect Coinmarketcap, but they did just launch a new metric by which they rank exchanges, called Liquidity. IMO it should be used as default. If you sort exchange volume by Liquidity (https://coinmarketcap.com/rankings/exchanges/liquidity/) instead of Reported, it makes a lot more sense:
https://coinclarity.com/wp-content/uploads/2019/11/cmc2-768x352.png I wrote an article for it last month if you're interested in learning more about how it works: CoinMarketCap Fights Fakers With New Metric (https://coinclarity.com/coinmarketcap-fights-fakers-with-new-metric/) Regarding CMC's volume, you can try their new metric which sorts the exchange volume by liquidity (https://coinmarketcap.com/rankings/exchanges/liquidity/) Bitforex is no. 50 base on liquidity. Whoops, just saw this message, you beat me to it. Sent you a merit. Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: fratoshi on December 21, 2019, 03:26:35 PM Coinmarketcap is in part responsible for all the crypto scams of the past years.
Never forget that they heavily promoted Bitconnect and other websites that ended up scams, like casinos, exchanges, etc. Just avoid CMC and use common sense. Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: notblox1 on December 21, 2019, 03:46:14 PM I'm not in any way trying to protect Coinmarketcap, but they did just launch a new metric by which they rank exchanges, called Liquidity. IMO it should be used as default. If you sort exchange volume by Liquidity (https://coinmarketcap.com/rankings/exchanges/liquidity/) instead of Reported, it makes a lot more sense: so when you say 'more sence' you mean that HitBTC is TOP 1 exchange today ?!?! and MXC exchange is 9th place ?!? and Bitrue is number 8th place ?!?! and Bitmax is 11th place and Coinnsbit is 12th place and more crap like this .... They obviously TAKE MONEY from this exchanges just to list them on their TOP 100 FAKE List Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: Baofeng on December 21, 2019, 04:14:30 PM I try to compare CMC entry with another alternative here - https://www.livecoinwatch.com/exchanges.
Based on liquidity: 1. Bitfinex 2. Binance 3. Huobi Global 4. OKEX 5. Bitstamp 6. HitBTC 7. Coinbase Pro 8. Kraken 9. Digifinex 10. BW So it's totally different list and I would say that it is closer to the real liquidity of exchanges as compare to CMC's list. So for me, manipulation = scam. So if CMC is manipulating their data to fit their narrative then definitely they shouldn't be trusted and avoided at all cost. Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: notblox1 on December 21, 2019, 06:13:30 PM This is current CoinGecko exchange listing:
https://www.coingecko.com/en/exchanges 1. Binance 2. Kraken 3. Bitfinex 4. KuCoin 5. Poloniex 6. Bittrex 7. Coinbase Pro 8. Huobi Global 9. Bitstamp 10. Gate.io Again much more real than Scam CMC Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: The Sceptical Chymist on December 21, 2019, 10:59:12 PM I've only heard of about two of those exchanges in total, Binance and Hotbit, and I'm not even sure about the latter.
Seems pretty obvious that unknown exchanges reporting billions of dollars in trading volume is false reporting of that volume--but I wonder what their real trading volume actually is. I don't really use CMC for anything special, usually just to check the price of an odd altcoin I might be interested in. I'm not about to boycott their site because they don't verify the numbers they're reporting, but maybe I'll use coingecko instead if and when I need to check prices. I definitely don't like it when big sites like this are misreporting data. Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: notblox1 on December 22, 2019, 01:20:28 AM Coingecko is using something they call TrustScore 2.0 to show more real data for exchanges
https://blog.coingecko.com/trust-score-2/ They ask people to send them feedback and suggestion to improve it https://forms.gle/Nr4MGeAJZY2qhzkx6 Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: 1miau on December 22, 2019, 01:57:16 AM Earlier this year, a good report exposed it already but good to know that nothing changed here, unfortunately. :-\
Original Paper: https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf https://i.imgur.com/lDuaruh.jpg https://i.imgur.com/zZkrIvI.png https://i.imgur.com/uBTJ4XA.png https://i.imgur.com/goLS26B.png Real https://i.imgur.com/gCOZ7le.jpg Fake https://i.imgur.com/aGWBrD6.jpg Real https://i.imgur.com/kDXDokw.jpg Fake https://i.imgur.com/ymK49Cd.jpg Real https://i.imgur.com/65exLAX.png Fake https://i.imgur.com/3JMtzdK.jpg Real https://i.imgur.com/cdG1G3a.jpg Fake https://i.imgur.com/FvaUM96.jpg Originally posted by qwk here: https://bitcointalk.org/index.php?topic=5125617.0 And from another source: Fake volumes: https://i.imgur.com/S27Wxhd.jpg https://www.blockchaintransparency.org/ (unfortunately, the original source can't be reached anymore, but this news article (https://www.coindesk.com/fake-volume-on-crypto-exchanges-isnt-the-half-of-it) is covering the topic. Adjusted volumes: https://i.imgur.com/DvsusG3.jpg Originally posted by me here: https://bitcointalk.org/index.php?topic=5125617.msg50399872#msg50399872 Faking Volumes for exchanges seems to be still a very big business to get more listing fees for a higher number of shitcoins listed. And to get users of course or to make the exchange more popular. ::) Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: Greendiss on December 22, 2019, 06:30:47 AM So Bitwise researched this and presented to the SEC when they were applying for their Bitcoin ETF back in january. They found out that over 90% of the bitcoin volumes are indeed faked & came up with a list of top 10 exchanges with actual volume. They cited 'Blockchain Transparency Institute' for this research... but the story is messed up. There's no information on who these guys are & CoinDesk later found out that Bitwise was involved as a partner. Now Blockchain Transparency Institute cannot be reached but their coin market data is still reachable here: bti.live. But the question remains as to who Blockchain Transparency Institute is? Their data somehow supported the Bitwise presentation to say that Binance & Bitfinex are one of the top 10 trusted exchanges with actual volume. There's an article which covers this story in whole detail here: https://cryptowhistle.com/fake-volumes-of-cryptocurrency-exchanges-the-not-so-transparent-blockchain-transparency-institute/ Title: Re: [AVOID] CoinMarketCap Top100 Fake Volume Exchange Listings Post by: notblox1 on December 22, 2019, 10:39:37 AM So Bitwise researched this and presented to the SEC when they were applying for their Bitcoin ETF back in january. They found out that over 90% of the bitcoin volumes are indeed faked & came up with a list of top 10 exchanges with actual volume. They cited 'Blockchain Transparency Institute' for this research... but the story is messed up. There's no information on who these guys are & CoinDesk later found out that Bitwise was involved as a partner. Now Blockchain Transparency Institute cannot be reached but their coin market data is still reachable here: bti.live. But the question remains as to who Blockchain Transparency Institute is? Their data somehow supported the Bitwise presentation to say that Binance & Bitfinex are one of the top 10 trusted exchanges with actual volume. There's an article which covers this story in whole detail here: https://cryptowhistle.com/fake-volumes-of-cryptocurrency-exchanges-the-not-so-transparent-blockchain-transparency-institute/ https://i.imgur.com/pKbAQYS.jpg Whoever they are, they exposed all fake exchanges and how they are faking everything. I am yet to see why role Coinmarketcap has, and how much money they are taking for this. This is latest BTI report from September 2019 https://www.bti.live/bti-september-2019-wash-trade-report/ And one report from Cryptocompare website https://www.cryptocompare.com/external/research/exchange-ranking/?social |
