End of FAKE volume reporting

[Distinctin]

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,

10 people? I don't think so, even if they are faking the volume, how can they survive with that numbers.
They have a number of exchanges, what only separates them from big exchanges like Binance is that whales are not usually using their trading sites.

[Bttzed03]

There are websites now that are doing better than coinmarketcap in dealing with these fake volumes in my opinion. I personally prefer Nomics but you can take your pick on this list of Sites for Crypto Market Watch

[Genkotsu]

yeah this is will must true, fake volume trading in CMC is making people think if that coin is really worth to buy but not get like same volume trade when people buy it.
this is must stop and we must report it to get better and real volume trading.

[mammoniter]

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.

Its true that reporting fake volume is one of the biggest problem in cryptocurrency. In fact some ICOs are actually the one who reported the fake volume. I think there should be a third party involved in monitoring the volume reported by ICOs. In that case, independent and unbiased volume will be reflected. In addition, exchanges that accepts reported volume without verifying it should be shut down.

[rachman mahesa]

yeah this is will must true, fake volume trading in CMC is making people think if that coin is really worth to buy but not get like same volume trade when people buy it.
this is must stop and we must report it to get better and real volume trading.

Most volumes are in fake Coinmarketcap or even late for each update. Indeed this must be stopped, because most people are fixated on coinmarketcap to buy altcoins and see volume.

[waynechong1995]

Not sure about the metrics though about the so called real volume, automating trade is still legit as user defined system but washing was more about doing the same minimal trade but they can be tweak to be more realistic, it's a existing problem but I believe it's only happening on centralised exchanges, we might mitigate these issue soon when DEX were more stable

[bettercrypto]

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 agree with your statement! Its rather be good to the community if the will not make fake volumes. Many exchanges specially the smaller one have been trying to fool traders by making a fake volume to the coin. We need a real data. This is actually one of the primary goal of cryptocurrency. People have to be acknowledge by simply telling the right information. Blockchain goals is to have transparency. I hope exchange does so.

[ganeshramk]

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 needs some regularization. When that happens, everything will be fine. But not sure how long it will take.

[Delilonia1]

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 is a very bad practice to upload wrong or fake volumes just to attract investors. These are some of the things that get people discouraged when they eventually find out that all their labour has been for nothing. It is sincerely very bad and I think I penalties should be attached on case of anyone found defaulting in this regard. Truth should be the watchword any day anytime. That will afford cryptocurrency a beauty beyond our description

[junkerr]

It needs some regularization. When that happens, everything will be fine. But not sure how long it will take.

What kind of regulation do you mean? all policies have been determined by the developer of the platform, if there are intentional errors or it is impossible for the developer to know it but they do not want to fix it. there is even a possibility they intentionally. not prejudiced, but regulation will not be the best solution.

[Caladonian]

It needs some regularization. When that happens, everything will be fine. But not sure how long it will take.

What kind of regulation do you mean? all policies have been determined by the developer of the platform, if there are intentional errors or it is impossible for the developer to know it but they do not want to fix it. there is even a possibility they intentionally. not prejudiced, but regulation will not be the best solution.

It can help in some ways but likewise if it's intentionally been done then there's nothing else the team can do, it's on the side where things is unavoidable and even regulations are there to accompanied the scenario it's still the one who intentionally do the manipulations can change the outcome reports.

[TastyChillySauce00]

It needs some regularization. When that happens, everything will be fine. But not sure how long it will take.

What kind of regulation do you mean? all policies have been determined by the developer of the platform, if there are intentional errors or it is impossible for the developer to know it but they do not want to fix it. there is even a possibility they intentionally. not prejudiced, but regulation will not be the best solution.

It can help in some ways but likewise if it's intentionally been done then there's nothing else the team can do, it's on the side where things is unavoidable and even regulations are there to accompanied the scenario it's still the one who intentionally do the manipulations can change the outcome reports.

That's the problem, sometimes we can't do something to this fake volumes by unreliable exchanges, the only way is just to leave it to the community to judge whether an exchange deserves their money to be traded there or not. The only thing that makes them grow up so fast is the fact that so many people are kinda blind or uneducated to all these facts that many of the exchanges are faking volume and most of them are low rated exchanges.

[mksundip]

if this is true, then this will be a new problem for the crypto world and investors and traders will experience a crisis of trust and will leave the market

[cak imin]

if this is true, then this will be a new problem for the crypto world and investors and traders will experience a crisis of trust and will leave the market

some exchanges still have the trust of investors and traders. investors and traders have long been on the market, and it's no wonder that it will happen for new and small exchanges or who want to grow their trade quickly. we have to think smart.

[Marcus yoyo]

I think, not all exchanges do false reports about the volume of crypto currencies. But if I analyze further that the crypto currency movement is very fast and dynamic so the volume report also changes rapidly. This dynamism might cause reports about volume to seem like fraud. If we think positively then that is because the crypto currency volume report seems like a fraud. But indeed there may be false volume reports as one of the strategies in increasing market supply and demand to be more crowded.

[shadowduck]

if this is true, then this will be a new problem for the crypto world and investors and traders will experience a crisis of trust and will leave the market

some exchanges still have the trust of investors and traders. investors and traders have long been on the market, and it's no wonder that it will happen for new and small exchanges or who want to grow their trade quickly. we have to think smart.

From the huge number of exchanges that are now represented on the market only a few of them are trusted by users. This is not right. I think when regulators come to the market - there will be fewer exchanges

[Akoldi_ibk]

I don't really understand the index of a thing to monitor real-time exchange volume. My take is on exchanges. Instead of faking volumes to attract users and investors, they should spend more time and resources in building a standard, secure, fast and easy to use trading platform. These exchanges know what the users want and preferred in an exchange and they should focus on addressing it. Faking volume is so temporal and will definitely lead to the collapse of such exchange in a mean time.

[Olena9797]

Remembering ICO almost every project dew fake volume of collected money on theirs sites. Thanks IEO we can see the real picture of this. What to do with fake volume on exchanges i have no idea, but as everyone im pretty tired of fake fake fake everyvhere in crypto and it should change

[CaVO32]

I don't really understand the index of a thing to monitor real-time exchange volume. My take is on exchanges. Instead of faking volumes to attract users and investors, they should spend more time and resources in building a standard, secure, fast and easy to use trading platform. These exchanges know what the users want and preferred in an exchange and they should focus on addressing it. Faking volume is so temporal and will definitely lead to the collapse of such exchange in a mean time.

i think for now, that is one thing they can do to attract potential traders. though it's not a sustainable approach, but most exchanges especially new ones are using this strategy. faking volume is a long-running problem in crypto exchanges and i don't think it will disappear anytime soon. if you are an experienced trader, you will know if a specific coin is being washed traded. be careful in those coins!

[pant-79]

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.

Unfortunately, this is exactly the situation what we have now. To date, the exchanges are one of the main speculators. And there is not a single real organization that would be able to somehow change this situation.
It would be great if such an organization appeared.