End of FAKE volume reporting

[Psynthax]

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.

But when you are seeing another marketcap site and there was a lot of gap between CMC and another marketcap site. i don't talk about coingecko at this moment. there was a marketcap site that only counts the real volume but i forget about the name of that site.

[boyz97]

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.

But when you are seeing another marketcap site and there was a lot of gap between CMC and another marketcap site. i don't talk about coingecko at this moment. there was a marketcap site that only counts the real volume but i forget about the name of that site.

fake daily volume trading be our problems now.manipulation started from this thing and it could influence new investors trapped .we need some standardization to count market capitalization , and also exchanges need to report their reall volume.

[chaoscoinz]

I think the market is slowly changing as institutional investors are now beginning to show keen interest in the cryptocurrency sector.
   One of the only things holding back an ETF at this point is the market manipulations like fake volume, and other things that may be harmful to investors. The bull market really needs the big guys to invest in order to take off.
   Big investors will hopefully bring confidence and stability.

[Natalim]

I think the market is slowly changing as institutional investors  are beginning to showing keen interest in the cryptocurrency sector.
   One of the only things holding back an ETF at this point is the market manipulations like fake volume. The bull market needs the big guys to invest.

It is and as what we noticed now, the volume is good compared to last years bearish period.
Having over $40 billion daily trading volume is a signal that the market is recovering, the confidence of the investors are coming back again.

[steveabrahams]

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.

Yeah, i hope coinmarketcap can know this fake volume on some exchanges. I'm sure some exchanges did kind of this shady things. We, as a trader also need to report it to coinmarketcap, so they can do something about it. Fake volume is a big one though on exchange, so i hope no exchange do this anymore in the future.

[Distinctin]

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.

Yeah, i hope coinmarketcap can know this fake volume on some exchanges. I'm sure some exchanges did kind of this shady things. We, as a trader also need to report it to coinmarketcap, so they can do something about it. Fake volume is a big one though on exchange, so i hope no exchange do this anymore in the future.

It's a hard job for them in knowing whether the volume reported is accurate, the solution I think is if they caught an exchange faking the volume, they need to exclude it on the list. More brutal but sometimes they have to do it the hard way so these exchanges will learn.

[guoyu78]

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.

It would be very difficult to solve this problem especially in the crypto space, which is a free market and anyone can operate within it's jurisdiction without being questioned by any government agencies or individuals, what I meant to say is that there is no one regulation body controlling the activities of this exchanges, and there is definitely no way we can monitor all exchanges to bring out which one has fake value and those that are actually real, so I don't really think there is a solution to this problem unless we become a centralized platform.

[Yaunfitda]

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.

Well there are those organizations who reported fake volumes. But as much as it's a fraudulent practice, who are going to stop them? There are no regulatory bodies to begin with?

And as far as CoinMarketCap? They are business entity so I doubt that they will take that into consideration. They even promoted ponzi scheme ads in their website, people called them but they didn't do anything because they are in the business of making money.

[DeathProxy]

This is a real issue that needs to be sorted ourt. Most exchange on CMC uses bots to report fake volume which is misleading to crypto traders.  If CMC can real data from exchange it will help reduce manipulations and bring in new investors

[Taufik blackspade team]

This is a real issue that needs to be sorted ourt. Most exchange on CMC uses bots to report fake volume which is misleading to crypto traders.  If CMC can real data from exchange it will help reduce manipulations and bring in new investors

I heard that there was an update regarding this issue. where some assets are not good, and listed on exchanges that are not supported, they will no longer be in cmc. there must be sorting for exchange, so that the assets seen and registered in cmc are also true and do not cause fraud.

[WannaCry]

there are exchanges do the fake pump, especially those new exchanges that offers erc20 tokens..

[auntyjmary]

The bots are mostly the cause of the fake volume and problems with sell/buy orders. The huge number of reports on fake volume on the various exchanges is causing a lot of  problems for the world of cryptocurrencies. This is a bad image as many people would lose interest in participating in trading activities on the exchanges.

[malekbaba]

I think we can do something as a community. Fake volumes are not helping us. New people who actually does not know abut wash trading or fake volume are usually the great sufferer. And unfortunately coinmarketcap and services like that already aware on this situation but may be they get some benefits from those exchanges. But we should work on this. We cant do a good job by any bad means. Crime always gives birth of another crime. Honestly, I think that these problems will be solved soon. Crypto cold war is already started and we will see massive adoption. But we need to solve problems like these.
Lets start : https://coinmarketcap.com/request/

[Twinkledoe]

I think we can do something as a community. Fake volumes are not helping us. New people who actually does not know abut wash trading or fake volume are usually the great sufferer. And unfortunately coinmarketcap and services like that already aware on this situation but may be they get some benefits from those exchanges. But we should work on this. We cant do a good job by any bad means. Crime always gives birth of another crime. Honestly, I think that these problems will be solved soon. Crypto cold war is already started and we will see massive adoption. But we need to solve problems like these.
Lets start : https://coinmarketcap.com/request/

Another job for cmc but I doubt they will look into this matter at the moment. They need staff to investigate for these problems. Wash trading is common to almost all of the exchanges even the top ones. If you are an old timer, you will know if wash trading is happening. What a new and small trader can do is, learn the ins and outs first in crypto, study the project that he wants to do the trading with. If he knows what's going on with that platform, he will basically know if the volume is fake or not.

[MikeyVeez]

There will not be any penalties.. For what? Crypto exchanges are not stealing money or not paying taxes. There is no rule that they have to report real volume and thats why the do it. 

[Mahanton]

I think we can do something as a community. Fake volumes are not helping us. New people who actually does not know abut wash trading or fake volume are usually the great sufferer. And unfortunately coinmarketcap and services like that already aware on this situation but may be they get some benefits from those exchanges. But we should work on this. We cant do a good job by any bad means. Crime always gives birth of another crime. Honestly, I think that these problems will be solved soon. Crypto cold war is already started and we will see massive adoption. But we need to solve problems like these.
Lets start : https://coinmarketcap.com/request/

Another job for cmc but I doubt they will look into this matter at the moment. They need staff to investigate for these problems. Wash trading is common to almost all of the exchanges even the top ones. If you are an old timer, you will know if wash trading is happening. What a new and small trader can do is, learn the ins and outs first in crypto, study the project that he wants to do the trading with. If he knows what's going on with that platform, he will basically know if the volume is fake or not.

Spotting fake volume would be either easy or hard yet it would depend on what exchange you are pertaining on.
If you do talk about top tier or popular exchangers then its almost impossible for you to spot it out but if you are somehow
an experience one then spotting on some circumstances is possible and also these wash trading or fake volumes can be easily to spot
out on non or small exchangers.

[monalia]

There will not be any penalties.. For what? Crypto exchanges are not stealing money or not paying taxes. There is no rule that they have to report real volume and thats why the do it. 

No one request them to follow the rule but every users will be looks for exchanges which is legit and trustworthy towards. let them follow for their own betterment.
One more thing here no one goes to invest on the fake exchanges sharing such reports. Everyone knows the good exchanges they will go for it.

[halpi]

It is impossible to exclude fake volume, every big exchange has the possibility to create several bots/scripts which would make a volume on any trading pair.
I tried to trade against bots and could say to you, alive person can do nothing against.

[seleme]

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.

The small exchanges like ZB, EXMO, Coinbene, Bitgogo usually use the trading bots which puts fake high bids and low asks on the price order book. Fake volume can be tricky for attracting the new traders and arbitrage lovers. It is a trap, don't fall to it. There is no way to detect the true volume on each exchange one by one AFAIK.

[EmmaBen]

Virtually every exchange does it in the industry today! Only a few a presenting genuine volume and that is associated with the heavy or larger exchanges. Fake volume has been a major challenge in the industry for a very long time and it has caused a whole lot of damage. Its about time something useful is done to stop it.