Drobek
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August 05, 2018, 07:55:08 PM |
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Sometimes it could be the work of some devs of certain tokens. I've seen it before. They try to get their tokens rank top 5 by volume so that traders with huge amount can trade them because there's liquidity.
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TheBitcoinBadger10
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Activity: 261
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August 05, 2018, 07:58:38 PM |
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"I still hope in the future there will come something like changelly only better and faster so everyone can trade directly from their wallet. "
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macartem
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August 05, 2018, 07:59:20 PM |
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Found an interesting article in which one guy did some datamining on some popular exchanges and their volumes: https://medium.com/@sylvainartplayribes/chasing-fake-volume-a-crypto-plague-ea1a3c1e0b5eApparently a few of these giants are falsifying their volumes. Maybe because a higher market cap would make people think it's a more trustworthy exchange? I don't know if it's really worth going through all of that effort. Would this have a major effect on the prices? I know we used to see huge differences in prices in the past, but now you won't see much more than a few percent here and there between exchanges. Yes, I also noticed that some exchanges add volumes. But I thought it was the admin tokens pay them for it ...
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unorowest
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August 05, 2018, 08:02:44 PM |
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This is really an emerging issue in cryptocurrency market, It really has to be tackled, and I think setting up a regulatory agency is one way of doing that. Another disturbing issue is bots manipulating prices, all these have to be regulated.
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cryptocamacho4785
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August 05, 2018, 08:10:36 PM |
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"I used a zero fee exchange before and they usually have a higher withdrawal limit. It can also be an interesting way to get more users and more trades happening. If I look at somewhere like bitstamp which has a fee and the ones that don't it is clear to see why volume increases Thank you for sharing. "
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FXTradingPro
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August 05, 2018, 08:15:32 PM |
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Found an interesting article in which one guy did some datamining on some popular exchanges and their volumes: https://medium.com/@sylvainartplayribes/chasing-fake-volume-a-crypto-plague-ea1a3c1e0b5eApparently a few of these giants are falsifying their volumes. Maybe because a higher market cap would make people think it's a more trustworthy exchange? I don't know if it's really worth going through all of that effort. Would this have a major effect on the prices? I know we used to see huge differences in prices in the past, but now you won't see much more than a few percent here and there between exchanges. This is incredible it shows the lengths that exchanges will go to in order to attract new clients and investors. IT doesn't make sense to do this it will get discovered at some point. Standards need to be in place for exchanges and soon they will have reporting requirements in order to maintain their integrity.
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onaiwusun
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August 05, 2018, 08:18:19 PM |
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A lot of exchanges are guilty of this falsehood. Sadly, some reputable exchanges are also not exonerated. Wash trading should be discouraged, it is deceptive
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Pancheng
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August 05, 2018, 08:19:36 PM |
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We are talking fake here, then this article have two intention as well its either to tell the truth or to confused us by spreading fake assumptions... Everyone should do their background check if they want the real thing.
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Coinnosaurus
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August 05, 2018, 09:07:59 PM |
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Hitbtc volumes are obviously fake and it doesn’t need any complicated statistical analysis. Pick any random usdt market in a small volume token and it volume is huge compared to other exchanges.
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fempat
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August 05, 2018, 09:13:56 PM |
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Hitbtc volumes are obviously fake and it doesn’t need any complicated statistical analysis. Pick any random usdt market in a small volume token and it volume is huge compared to other exchanges.
What's the source of your assertion? Let's not just conclude because we have some issues or reservations abut a particular exchange. BTW, The OP made a good point. This act is a very dangerous one as those giants could easily rip many people off their money in the event that they decide to close down. Yes there are regulators like the SEC but they usually find their way around them.
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Mix_Fix
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August 05, 2018, 09:43:51 PM |
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While market don't have enough regulation, exchanges can manipulate with volume. Everybody wants to make money, so do companies and exchange platforms.
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panfils
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August 05, 2018, 09:50:45 PM |
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Well this is unevitable at the moment... Until we got any "authority" that will approve every single transaction in every market, we have to trust on Exchange's volumes. But I agree with you, there are a lot of platforms that are making huge fake volumes and this is really disturbing.
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Diced90
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August 05, 2018, 09:53:55 PM |
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A lot of exchanges are guilty of this falsehood. Sadly, some reputable exchanges are also not exonerated. Wash trading should be discouraged, it is deceptive
Yes, I agree with you on that the volume information on exchanges is something to tackle because its decisiveness is bad to the community in general and may even play a role in the market price of some coins.
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hulla
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August 06, 2018, 02:07:33 PM |
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Hitbtc volumes are obviously fake and it doesn’t need any complicated statistical analysis. Pick any random usdt market in a small volume token and it volume is huge compared to other exchanges.
Well, falsification of trading volume in crypto currency exchange site is not something new because it have been happening a longtime and even coin market capital was once also accused of increasement of coins information which I also confirmed it. However, I believe evey thing is already sort out now and this is the reason why the cryptocurrency capital is down to $252B
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buivanquan22
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August 06, 2018, 03:13:41 PM |
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I think all exchanges have automatic trading system. It creates an unrealistic look. You see the volume of transactions is large but not real. These are just virtual indicators to fool
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JohnCallahan
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August 09, 2018, 10:23:39 AM |
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I think this is a very bad practice. It can easily manipulate beginners so i think this thing should be stopped. Otherwise it will create more problem in the market.
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freightjoe
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August 09, 2018, 10:30:36 AM |
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Found an interesting article in which one guy did some datamining on some popular exchanges and their volumes: https://medium.com/@sylvainartplayribes/chasing-fake-volume-a-crypto-plague-ea1a3c1e0b5eApparently a few of these giants are falsifying their volumes. Maybe because a higher market cap would make people think it's a more trustworthy exchange? I don't know if it's really worth going through all of that effort. Would this have a major effect on the prices? I know we used to see huge differences in prices in the past, but now you won't see much more than a few percent here and there between exchanges. This is not surprising - these exchanges are totally unregulated and a perfect playground for scammers and cheaters. There have been warnings for more than a year that manipulation which is illegal in normal investment markets is rampantly out of control in the crypto markets.
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TonyRodriguez
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August 09, 2018, 10:43:08 AM |
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Sometimes these things are created by the bots. Anyway these things creates negativity in the crypto world. I think that these things should be monitored.
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SunriseSecret009
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August 10, 2018, 01:23:14 PM |
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Why they need to manipulate the volumes? This is really disturbing thing. Lots of scams out there and often newbies fall into their traps.
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HitMarshall67
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August 10, 2018, 02:10:14 PM |
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this incident took place about 5 months ago. No need to worry about it. New ICO always try to exaggerate their original volume to attract new customers. Market cap is about to stable right now.
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