It's blatantly obvious Eth is and has been wash traded by a single entity on Poloniex for literally months now. Their fee structure is setup where someone pushing that volume would have 0.10% taker fees and 0.0% maker fees, so 0.05% if wash traded.
On a slow Eth day of 20,000 BTC volume, that would be 100 BTC per day in wash trade fees. Does anyone honestly believe the Poloniex Eth manipulators pay that much? Hell no.
Why is Poloniex doing backroom deals with market manipulators to artificially pump coins to defraud investors? It's different if some random guy like Wolong decides to pump a random shit coin, but when the exchange itself is involved in the scheme (like Bittrex has been accused of with Bobsurplus), it's pretty questionable.
me too, this is what i always think and believed poloniex is doing. it is illegal in every ways. i hope SEC look into this now rather then later.