End of FAKE volume reporting

[Olatunjex]

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.

Coingecko did said some time ago they will put an end to fake volume reported by exchanges, i am still waiting how tha pawn out frimt coingecko end. As far as CMC is concern i don't think they have it in plan to stop fake volume by exchanges.

[malekbaba]

I have seen that cmc is not showing fake/false volume for some tokens. Take a look at topbtc. CMC shows volume excluding topbtc's volume. I always find that exchange dodgy. They manipulate the total volume like other exchanges, always wash trades. I thank CMC for this initiative. We need fair atmosphere otherwise crypto will bever be the main stream of finance

[Mila52]

Recently, even many TOP exchanges manipulate volumes, not to mention small ones  exchanges.  . How can stop it? While there are no such control organizations, we can only trust the honest reputation of the major exchanges.Therefore, I don’t really trust CMC information. I think professional traders are aware of these and everyone has their own analysis mechanism.

[prehisto]

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.

When i saw this tittle , I was hoping to see some news that it is already happened.

It would be only logical to see that, but it wont happen so soon. It means that every country where these exchanges are located should make specific laws for crypto exchanges. I dont see this happening so soon unfortunately.

[thehulkk]

This is very difficult to control. Many ICOs just want to trick investors, so they give false figures. The sad thing is that until now there is no specific solution to change this problem, what we can do is to always be cautious of our decisions.

[OptimusPrime_3]

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.

you are very correct.  After the issue of fake volume came up in the cryptocurrency space many projects are now accessing many exchange before they go into it. But still with all this being said, some exchange still show fake volume on their exchange

[FanEagle]

I think it was already obvious, you can see a place getting too much attention and their volume is also high so you kind of understand how big they are, you go on forums and reddit and social media and everywhere you look you see binance as the king of all exchanges. Then there are small god knows who uses this type of awful places that nobody talks about and they are getting a ton of volume on the lists, well you tend to not trust them at all. I have personally been involved in many ICO as a team member and my teams have reached out to exchanges to get listed and they were giving away market making bots to us to buy and sell our own coin to make it look like our volume is up which works for them too because while our coin gets more attention their website getting more volume as well.

[installer]

The most things in this industry are fake and this is done to attract more attention to exchanges, projects and so on. The real problem is that even CMC is cooperating with scammers like IDAX exchange, this is truly sad.

[arufox]

Yes i agree, i already see the data so many exchange with fake volume even popular exchange. That's why i like binance because from data which i already seen binance not include as exchange with fake volume

[Thanasis]

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.

Coin market making profit from the trading sites so they are going to you stay with the favour of them not with the uses because they are giving this service for free. But it is better to give the the right thing what they are doing rather than asking their reputation for money and they even climb that they just reporting volume from the exchanges so we need to have verify the value true or not.

[spike420211]

Fake volume is a big problem. But an even bigger problem is that such exchanges are in the top at the CMC, and yet people unconditionally trust this site. As a result, scammers get free advertising for their scam exchanges, people come there hoping to sell their coins at a bargain price, and face problems such as liquidity, bots, and problems with withdrawing funds.

[vladimirhf]

it's happening everywhere, fake volumes and fake prices for many coins, even when we report to coinmarketcap they dont care. it's hard to trust anyone on this market.

[Ifemini]

Sometimes fake volumes are pushed by malfunctioning telegram eth bots that give wrong values
Or a single bot trade in exchange

Coinmarketcap should do more to fix this

[peter0425]

Sometimes fake volumes are pushed by malfunctioning telegram eth bots that give wrong values
Or a single bot trade in exchange

Coinmarketcap should do more to fix this

As much as we are calling Coinmarketcap for years to fix this issue, I doubt that they do such actions. I mean they are in the business of making money so why fix now? As far as wash trading or fake volumes, everyone should be very careful though so you won't be a victims by pump-and-dump groups, bots and even the exchange itself.

[vladimirhf]

it's happening everywhere, fake volumes and fake prices for many coins, even when we report to coinmarketcap they dont care. it's hard to trust anyone on this market.

No need to trust anyone,just make your research before investing a single penny to the chosen project. Even small projects can be a game changer with huge development in a long time. Fake volumes are done by trading bots in general.

"No need to trust anyone" + "Even small projects can be a game changer"

then you trust some small projects, your sentences are contradictory.

finding fake volumes is part of research.

[glennmatthew]

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.

When i saw this tittle , I was hoping to see some news that it is already happened.

It would be only logical to see that, but it wont happen so soon. It means that every country where these exchanges are located should make specific laws for crypto exchanges. I dont see this happening so soon unfortunately.

In all fairness it is enough that China enforces such a law, most large exchanges are based there.

The problem here is that governments of countries don't care about this. Considering all troubles and worries that governments have about cryptocurrencies, fake volume is the tip of the iceberg.

[vladimirhf]

I mean they are in the business of making money so why fix now?

because we need honest services. because everyone should help reporting what's wrong.
Do you want to defend what is wrong? Are you nervous? Do you create fake volumes too?

[wxxyrqa]

Sometimes fake volumes are pushed by malfunctioning telegram eth bots that give wrong values
Or a single bot trade in exchange

Coinmarketcap should do more to fix this

As much as we are calling Coinmarketcap for years to fix this issue, I doubt that they do such actions. I mean they are in the business of making money so why fix now? As far as wash trading or fake volumes, everyone should be very careful though so you won't be a victims by pump-and-dump groups, bots and even the exchange itself.

It seems to me that today we should fear most of all cryptocurrency funds that manipulate the market even more than big whales did.Although everyone knows that almost 40% of Bitcoins belong to about 1,000 people.

[Almasani]

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.

Yes. I really agree with what you say. I found a market run with bots to play with prices. Even if you sell at the purchase price, your coins will remain unsold. Bots keep buying below the selling price. While the history of exchange trading continues. I really experienced this myself, and made me disappointed with this condition. Because the exchange does not show real exchange. And they do not do neutral in exchanging.

[aioc]

It hurts the community if people are being shown with fake volumes from these exchanges and from coinmarketcap as well, traders and investors want to see the real picture, so they can make a good decision where to invest their money.