What! btc-e leading in volume.

[goxed]

This could be interesting.

[joesmoe2012]

Very strange. Guess the Russians are catching on now as well?

[TERA]

btce has some bots now that do these periodic spurts of hundreds of small trades per second. That's when the volume started. Watch bitcoinity and eventually you'll see what I'm saying.

[joesmoe2012]

Seems like there was alot of selling pressure earlier on btc-e. Guess it's easy enough to withdraw there.

[derpinheimer]

Seems fake. Cant have 40k volume on that depth..

Or is BTC-E the one with dark pools or whatever its called?

[joesmoe2012]

Seems fake. Cant have 40k volume on that depth..

Or is BTC-E the one with dark pools or whatever its called?

I don't think they have dark pools, but I also have never heard reports in the past of them faking volume.

[MAbtc]

I trade there. The walls are usually fake, but sometimes, they get market ordered through before they can be pulled. That's fun to watch. Seen it happen several times the past couple days. Does seem a bit high though. 25k wouldn't have surprised me, though.

[Walsoraj]

Most of the volume on BTCe is the owners, or their close friends, trading with themselves at zero fees.

[joesmoe2012]

There also seems to be a large amount of LTC volume there today. 10k+BTC in the BTC/LTC volume, and nearly 10K BTC worth in the LTC/USD market as well.

[Endgame]

There also seems to be a large amount of LTC volume there today. 10k+BTC in the BTC/LTC volume, and nearly 10K BTC worth in the LTC/USD market as well.

This is why their bitcoin volume is so high right now. When litecoin volume on btc-e spikes, it causes extra bitcoin volume on btc-e, as people trade across the various trading pairs of btc/ltc, btc/usd and ltc/usd.

[klee]

Chinese buying LTC

[derpinheimer]

Really odd, but I guess the only possibility is fake volume [incl. bots gone mad]. No way for 40k on that depth.

[ElectricMucus]

In times like these triangular arbitrage between LTC/BTC/USD and EUR/USD/BTC can go a long way.

[Walsoraj]

quoting my brilliant self:

Consider the following scenarios:

1) 100,000 btc 24hr volume by 10,000 traders, with 90% of trades by 9,000 traders; and

2) 500,000 btc 24hr volume by 100 traders, with 90% of trades by 10 traders.

A noob investor/trader is likely to consider high volume as an indication of high demand, especially after a calm period.  In 2), the few major traders can manipulate the price around at will.

This should be common sense.

[ArticMine]

quoting my brilliant self:

Consider the following scenarios:

1) 100,000 btc 24hr volume by 10,000 traders, with 90% of trades by 9,000 traders; and

2) 500,000 btc 24hr volume by 100 traders, with 90% of trades by 10 traders.

A noob investor/trader is likely to consider high volume as an indication of high demand, especially after a calm period.  In 2), the few major traders can manipulate the price around at will.

This should be common sense.

So the idea is to manipulate the volume on BTC-E in order to drive the price down on exchanges with greater depth such as MTGox or BitStamp?

[Walsoraj]

quoting my brilliant self:

Consider the following scenarios:

1) 100,000 btc 24hr volume by 10,000 traders, with 90% of trades by 9,000 traders; and

2) 500,000 btc 24hr volume by 100 traders, with 90% of trades by 10 traders.

A noob investor/trader is likely to consider high volume as an indication of high demand, especially after a calm period.  In 2), the few major traders can manipulate the price around at will.

This should be common sense.

So the idea is to manipulate the volume on BTC-E in order to drive the price down on exchanges with greater depth such as MTGox or BitStamp?

You are stupid.

[klee]

quoting my brilliant self:

Consider the following scenarios:

1) 100,000 btc 24hr volume by 10,000 traders, with 90% of trades by 9,000 traders; and

2) 500,000 btc 24hr volume by 100 traders, with 90% of trades by 10 traders.

A noob investor/trader is likely to consider high volume as an indication of high demand, especially after a calm period.  In 2), the few major traders can manipulate the price around at will.

This should be common sense.

So the idea is to manipulate the volume on BTC-E in order to drive the price down on exchanges with greater depth such as MTGox or BitStamp?

You are stupid.

Indulge us, please...

[phlogistonq]

I don't think they have dark pools, but I also have never heard reports in the past of them faking volume.

I do, however, sometimes get the impression that there are orders in the book that are not listed. Sometimes I make an order, say to buy 10 BTC, filling the top 10 orders in the book and then, to my surprise I find it buys 10 BTC but filling only the top 2 orders, which were never even near 10 BTC total.

Bitstamps API was broken for nearly a day, perhaps the BTCe volume is not so much increased, but rather bitstamp has decreased. Or some customers switched.

[dree12]

It's not that BTC-E volume has gone up, it's that Bitstamp/Gox/BTCChina volume has gone down. BTC-E is catching up in terms of prices, so this is to be expected.

[TERA]

It's not that BTC-E volume has gone up, it's that Bitstamp/Gox/BTCChina volume has gone down. BTC-E is catching up in terms of prices, so this is to be expected.

False. The actual volume number has gone way up, not just the ratio. One day they were doing 8Kbtc per day on average and then it shot up to 20K-45K per day.