End of FAKE volume reporting

[matej451]

There are many exchanges that are faking volume. Some reports show that there is up to 90% wrong volume reports. With market developing i am sure there will be more strict rules and penalties.

I think this is the next step in crypto for further development.

There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.

I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.

[1714632941]

1714632941

[1714632941]

1714632941

[1714632941]

1714632941

[Shatterlean22]

I hope the problem of fake volumes will be fixed as well, its a shame that very few exchanges have real volumes ,if any penalized will be introduced its for the better

[agusiska]

most of ICO project did a fake report volume neither for daily or weekly volume, just because they want to attrach more new investor for their project, and of course this is a bad thing to do because many of us got cheated by them.

[Sacramentus]

Fake volume issues is one problem for crypto market.  Almost 90% of crypto exchange shows Fake volume and this is very bad. Like someone said, icos posts Fake report of raised amount and that's correct. We need to tackle this problem, there are many dubious minded people amongst us

[labilaab]

You are right. Some of this exchanges I suspect are those that are not listed or in partnership with other top exchanges at least.Thats why they are freely can do what they want like cheating on their traded volume to deceive people to trade with them. Hoping there will be more implementation of prevention for this to take place this year regarding this matter.

[Nekoma2018]

There are many exchanges that are faking volume. Some reports show that there is up to 90% wrong volume reports. With market developing i am sure there will be more strict rules and penalties.

I think this is the next step in crypto for further development.

There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.

I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.

This is Indeed a welcome development.. exchanges like latoken oex coinsbit exchange are just filled with fake volume with little to no traders In these exchanges

[bgaf]

There are many exchanges that are faking volume. Some reports show that there is up to 90% wrong volume reports. With market developing i am sure there will be more strict rules and penalties.

I think this is the next step in crypto for further development.

There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.

I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.

Coinmarketcap take this into consideration? Or more less tolerate their action. I can see how top exchanges manipulate their volume and its funny cmc still recognize the volume though their putting on their site reported volume and adjusted volume. Nevertheless they still letting those.exchange play the rule. Only few actually really does natural volume. I will not mentioned those exchanges who face to face using bot to manipulate their trading activity. I just like to mentioned Binance as a role fod a good exchange with lots of traders. Only problem here is the exchange doesnt use manipulation but the whales using their exchange really do manipulation. They should have strict on regulations of investors to be vivid since most whales playing prices of some coins.

[puertorikosena]

It seems to me that the wrong trading volume is shown not only in the cryptocurrency market. Indeed, this issue needs to be addressed. Because of the wrong indicators, many traders make the wrong trading decisions.

[eternalgloom]

Coinmarketcap already does exclude some volume, but they can go a little bit further than that.
It's good that they exlude volume from zero fees exchanges, since people can just increase the volume exponentially.

You can see it when you click on the exchanges tab for each coin.

[Mcmich]

The faking of volume is just in ten high increase now. Something really needs to be done about it as you said. Such fake volumes are very deceiving.

[carter34]

It seems to me that the wrong trading volume is shown not only in the cryptocurrency market.

I don't think it is there in the forex market. I think because the forex market is regulated, certain things are properly handled to the extent that if there is stealing, cheating or presention of wrong data of a broker etc, there is appropriate sanction.

[CryptoBry]

It is about time, actually. I could not understand why TRUTH has been always sacrifice in the world of cryptocurrency. We have to go back to saying and reporting facts so that people's trust and confidence can start to be getting back to the whole industry. The time has come to demand facts and not made-up figures just to push someone's interest. CoinMarketCap has to make sure that they are sharing facts and not be another alley of manipulators and liars in this industry.

[niisarearning]

One more major factor for this fake volume is more and more new exchanges . These exchanges gets reputation based on the volume trading in their exchanges . So these people showing more volumes . Again Coinmarketcap failing to monitor these new exchanges beeeing added every other day.

[BitcoinCazh]

yeah i agree coinmarketcap have action about this problem, i have see some market exchange claim their have much stock of bitcoin, if i count in a few market the total supply of bitcoin its more than max supply bitcoin 21million

[Dr.Sponge]

Well, it looks like the most of exchange is now gonna scamming us by manipulating the volume reporting, not just ICO or IEO or STO.

[Genemind]

This is something that they should do something about. It affects most traders and investors because this is a form of a scam and it deceives people. Exchanges should be aware of it and must eliminate coins which are causing this kind of fraud. There are also new exchanges who are spreading fake volume and it confuses traders.

[hrunya102]

It is very difficult to trust exchanges with fake volumes, I sometimes faced the fact that I could not sell some token, although the bots continued to exhibit orders.

[ginobitcoiner]

very many exchangers did this, I also felt that I had been hurt several times.
coinmarketcap only displays data from the exchanger without a proper audit of the correctness of the data.

[fortunecrypto]

There are many exchanges that are faking volume. Some reports show that there is up to 90% wrong volume reports. With market developing i am sure there will be more strict rules and penalties.

I think this is the next step in crypto for further development.

There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.

I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.

I'm glad that these things happen this early, this is the best time for these exchanges and coinmarketcap and the like to show us the real picture, now that the momentum for the coming bull run is coming, we don't want people who are just coming into the industry that there are connivances and corruption in the volume.

[zgrdyg]

It is very easy actually.

In coinmarketcap they can add a "report fake volume" tab, and if some exchange giving fake data, they can delete it. Also it is very easy to spot fake volume. Just open a shitty exchange with huge volume and choose their biggest volume pair, you would see.