End of FAKE volume reporting

[Bonwin]

Based on individual experiences, most especially for those who have been trading for some time now, we can still tell,without any statutory or regulatory body coming in first, the exchanges that have volume, from those that do not have enough  as they claimed to have.
The use of bots on some exchanges has really made trading difficult.

[eastgrand]

I was checking out some cryptos on coinmarketcap and one of them had an * that said that it was not being counted towards the total volume. So I do think they take actions against fake volumes.

[BryanK]

Recently there was a scandal that exchanges fake trading volumes in order for people to trade more. There's nothing you can do about it. Just don't trade on these exchanges.

[Convery]

End of fake volume reporting would also mean end of some exchanges. For example Bithumb or Okex are good candidates for the end since coinmarketcap will not list them as the biggest exchanges and thus reduce their credibility.

[rdewilde]

Seriously you stated it right, reporting bad volume is indeed bad for this space as it is gaining the attention of the public. It will be indeed bad for investors to get associated with exchanges only to realize there is fake volume within.
Furthermore, I think for this to be corrected CoinMarketCap has a big role to play and the sooner the better, as credibility is the keyword in any successful exchange or project.

[axel2078]

This is the truth and gradually becoming the other of the day. Most exchanges just display fake volumes to attract users while within, there is nothing to offer. I think the first step into solving this issue starts with CMC, if they can implement strict regulations or measures most exchanges will be forced to display the real data the way it is and it will be an added advantage to this space.

[Iyanu14]

Fake volume is an headache for a lot of traders and crypto enthusiasts, an adequate measure should be taken yo stop this bad altitude of majority of exchanges that fond of using it.

[irixo10]

For this space or crypto market to grow while attracting institutional investors, this issue of fake volume needs to be taken into serious consideration if not could have a negative effect in the near future. Furthermore, the first step towards solving this issue starts with CoinMarketCap this is because they need to enforce exchanges to do the right thing which they can't run from.

[Thanasis]

I think they know that reported volumes are fake on most of the exchanges that is why they have reported volume and also actual volume tab.Not sure about the accuracy but  there are some difference to both values when we swap it.But it is always our responsibility to check the accuracy of any exchanges.

[BestAltcoinHunter]

Coingecko actually has a pretty good report. It takes into consideration number of monthly visits on the website and then re-calculates a normalized volume. Although it isn't 100% accurate. For example I noticed that COSS has monthly visits of almost 200k users but coingecko lists it as like 40 users or something.

[fallensky7]

It’s time to finish this! If I’m not mistaken, CMC, at the beginning of the year they promised to change the method of calculating the rating of exchanges, because most exchanges falsify trading volumes, as a result of which many lose money.

[bitc0000]

Whether big or small exchnage, it is really disheartening to carry out such. Exchanges participating in such only shows how desperate they are.  In addition, I think urgent solution needs to be taken as this space is on the verge of gaining huge attention from the world at large and things like this shouldn't be welcomed. Therefore in all, it all depends on Coinmarketcap and the decision they will Implement.

[Ranly123]

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 don't really get why some exchanges fake the volume of a coin. Maybe they are paid or so to make high volume and increase the hype for investor to consider buying the coin. Anyways, your right, cmc should consider looking at this issue seriously.

[Flezy]

I think this issue of fake volume will cease when Coinmarketcap starts taking disciplinary actions towards these exchanges. Yes most exchanges can't last as they have no true volume, but at least it will to a great extent make most exchanges to be up and running.
As an industry growing tremendously this issue needs to be tackled as soon as possible as it is not encouraging.

[Classica35]

The problem with coinmarketcap, which I have personally seen too, is that they do not take cognisance of coins that are no more trading, most especially when it cones to active trading.
Those coins most of the times, add fake volume to to the total marketcap, which in the real sense of it, it is not.

[Emmy92]

This is no longer a joking matter as it is getting out of hand. Most exchanges are even proud to display such fake volume without thinking about what their users will say. To be candid there is a great need to adopt strict policies which will govern exchanges so that they abide and make the right choice while not misleading anyone.

[Jpti]

The issue should be seriously taken into account by concerned authorities. There are many exchanges reportedly showing fake volume so as to attract new projects and traders. In some cases, such exchanges scam traders. So the issue should be taken seriously and a prompt action should be taken to discourage this trend.

[slashz9]

well, yeah i think some exchange use fake volume to attract more poeple to trade on their exchange.
or its just only 1-10 people just do trading all day for get big volume on their exchange,

[puremage111]

Exactly
I think Coinmarketcap actually initiated this transparency API thing which these exchange needed to attached to their exchange so the volume is transparent and reported directed

Not sure if it really void out all the fake volume but yea, we definitely need something true so we can know the true sentiment of the market
Volume is kinda important when we comes to Financial instruments

[herurist]

This must be immediately followed up so that everyone is not fooled by counterfeiting trading volumes, so I think that all altcoin prices will be linked to Coinmarketcap to be accurate.