hey guys,
i was puzzled about the reported volumes in the last weeks from the chinese markets and couldn't believe it to be true. So i looked i little bit deeper and it looks like the 24h volumes on chinese markets are completely wrong.
For example look at fxbtc.com. they report a volume of 22228.35 BTC for the last 24 hours. 22kBTC!, compare that with 5-8kBTC each on mtgx, bitstamp, btce. sources:
https://www.fxbtc.com/ top bar on the right side, or
https://bitcoinaverage.com/markets.htm#CNY ,
http://btckan.com/price or directly via their api
https://data.fxbtc.com/api?op=query_ticker&symbol=btc_cny.
BUT, if you look on the chart in the homepage you see different volume data for smaller intervals. eg. 5min, 15min, 30min, 1h, 8h. If you sum up the volumes of the last 24 hours you are nowhere near 22kBTC. I did this with 1h data and 8h data, and both are the same. It is 383 BTC for yesterday, today til now (its 04:00 am in china) 82 BTC.
That leaves a huge gap between 22k BTC and 383 BTC, or am i completely missing something?
That 22kBTC seems more like a 30d volume, but it changes too fast. So i think either it is completely fake or it is a 30d estimate based on the last 24 hours and everything is a huge misunderstanding and bitcoinaverage and btckan interpret that values wrong.
Not enough, it looks like other chinese markets do exactly the same (except btcchina.com). If that all is correct that would mean volume in china is nowhere near that of usd and european exchanges.
What do you think?
fxbtc.com 1h and 8h Volume Data from 19.01.2014:
20.01.
04:00 0.02
03:00 0.62
02:00 12.30
01:00 31.67
00:00 37.58
82.19
19.01.
23:00 140.03
22:00 88.80
21:00 13.92
20:00 42.43
19:00 13.59
18:00 0.98
17:00 1.62
16:00 1.87 303.24
15:00 2.90
14:00 18.14
13:00 1.79
12:00 0.07
11:00 0.21
10:00 9.43
09:00 8.47
08:00 9.22 50.23
07:00 1.12
06:00 0.00
05:00 7.50
04:00 10.10
03:00 1.07
02:00 0.00
01:00 0.10
00:00 10.03 29.92
383.39 383.39
