CoinGecko Adds “Trust Score” to Combat Fake Exchange Volume Data. Can it work?

[AgentZero23]

CoinGecko is doing what is good for the crypto community. Although I'm using CMC everyday to track the price in the crypto market. Trust score will give us an idea on what exchanges that have real volume and stay from pump and dump exchanges. I've been trading for a while now and i experienced wash trading and it's common in majority of exchanges.

[qazgroup]

I think filtering fake volume is not an easy task and there are many different ways these exchanges use to fake the volume for example buying and selling themselves using dozens of accounts, bot trading is another tool where these bots continuosly setup buy and sell orders just to show that there are hundreds of transactions and trades being performed daily.

[kawetsriyanto]

Actually, we don't know whether it will work or not because what we need is that the trust of CoinGecko in giving the Trust Score for the exchange reviewed in this.
However, the effort from CoinGecko in order to decrease the face exchange volume should be appreciated, at least, it can add the trust for COinGecko itself and use it as the representation or guidance.
Now, many exchanges use the fake trading volume to gain more members using the exchange. They make certain fake volume and it is deceiving.
So, I only hope that this way can be one of the significant ways to decrease the fake trading volume in the exchanges.

[rizkyhiw]

For me, it is still less anticipating fraud in trading volumes because this is still unclear in real work and can it be held accountable for all the values given? I think it's still ineffective because it can still move without anyone's knowledge, I hope there is a better concept in anticipating volume forgery, let's look at this concept to what extent it can be useful.

[Vit83]

Excellent idea, this must be a long time ago to help users to avoid problems. Some exchanges when you selling low cap coins volume just disappears. 

[Genkotsu]

yeah it works, it making we are here can see the rael data trading volume.
but coin gecko is not popular like Coinmarketcap and making this feature is not seeing for all people.
we need to believe that true data to support marketcap to grow to better.

[FoBoT]

Coingecko popularity have increased since cmc begin paid listing, this new feature of exchange trust score will further boost their website.
I checked the content publishing website and found it good, pm me your referral link for me to register through you.

[zero714309]

I think will not really help us. They still not accurate at the moment. You know about bitebtc exchanger ? CoinGecko already mark and give warning but trader still use to trade. This fact tell us trader not really use CoinGecko for know about market reputation.

[Script3d]

I think will not really help us. They still not accurate at the moment. You know about bitebtc exchanger ? CoinGecko already mark and give warning but trader still use to trade. This fact tell us trader not really use CoinGecko for know about market reputation.

This would only help if the user uses coingecko to identify the actual exchange volume, having a fake volume doesn't stop real traders to use their exchange, all it do is give the traders confidence, in your case the trader doesn't know the exchange is faking their volume.

[michellee]

I am not sure because it needs to test before it can combat with the fake volume data that is happening on other exchanges. If they can serve the real data, then I think the trader will use it for their analysis and that will help them to trade following the data itself. But still, coingecko needs to stay neutral and not choose one big exchanges because that will not be good for themselves. If they want to combat the fake exchange volume data, they need to be ready for anything that might happen later.

[davoshuntcrypto]

It's great to see that they are trying to combat the exchanges and their false volumes. Whether this will work though is another thing, as i don't know how they can successfully check their volumes.

Also thanks for sharing the blogging platform, its great and i've been using it for a few weeks, i've earned quite a decent amount of Bounty0x and HYDRO tokens and also today they have added another token DAI which is not just a stablecoin, but also in the top 100 tokens on CoinMarketCap. You can sign up to the platform by clicking on the blog article.

[Bitze]

It's great to see that they are trying to combat the exchanges and their false volumes.

yes, it's nice to see when they take action against it. of course it's very tempting for the exchanges, but basically it throws a bad
impression on you and also makes for a bad reputation. nevertheless, exchanges like to work with fake volume

[repetecrypto]

It's a great thing to combat the false amounts in theory, i just don't know how it works in real life. Regardless, it's a great step forward.

Sidenote, I would also check out the platform the article is posted on, you can earn 3 strong tokens for simply upvoting articles and creating content. I think they will become bigger than Steemit in regards to users and earnings in the future. Today they added DAI (a stable token in the top 100 tokens listed on CoinMarketCap. I would recommend you sign up to it.

[evenotto]

unfortunately, fake trading volumes that are hard to detect for outside observers may even turn on exchanges, even not by their will.
Idea of the coingecko platform is quite good, I like it