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Author Topic: Fake trade volumes  (Read 587 times)
Rehmanchoudhary5
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August 01, 2019, 03:49:13 PM
 #1

I've some concerns and queries, i observed that many altcoins even some major coins create fake volume, if a project is new and initially listed on a small exchange and create fake volume it's obvious understood that they're trying to get listed on coinmarketcap, but A coin which is existed in everywhere, even big exchanges but still they create fake volume on small exchanges, what this means? Why they do that? Is everything just done by exchanges or project itself, and also that makes a clear difference in prices as compared to official price of market that makes frustrated.

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August 01, 2019, 04:24:15 PM
 #2

It's the exchange platform that has control over order book and trading volume so they are the ones who manipulate it.

Why you might ask? simply to become more visible in Coinmarketcap and also popular. Being popular means the exchange could charge more money to list coins and also means potential new users.
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August 01, 2019, 04:38:40 PM
 #3

Some traders can make this happen.

It will show up on CMC but if you look at the exchange real volume. There are just a little amount being sold at a higher price.
That is to pull or to fool the newbie traders or those who just cannot keep their hands on the token.
Bounty hunters mostly are the ones being hit by this kind of acts or they might also be the culprit to make the value higher and sold it for the right price and effort that they have done.

Some just cannot wait for the market to grow on its own.

Edit: This should be on altcoin section.

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August 01, 2019, 04:46:45 PM
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It's the exchange platform that has control over order book and trading volume so they are the ones who manipulate it.

Why you might ask? simply to become more visible in Coinmarketcap and also popular. Being popular means the exchange could charge more money to list coins and also means potential new users.
He might have a point on when the developers are the ones matching theirbown Bids and Asks in the crypto exchange. This is possible if they are also the only ones participating in that trade. It's similar to crypto exchanges faling the volume but the guilty ones here are the developera itself. You cannot really trust every data you see online as they can easily be faled to manipulate people, that is why if you don't want to be victims of fake volume you should always stay away from unreputable exchanges.

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August 01, 2019, 04:57:51 PM
 #5

openmarketcoin.com

without fake volume
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August 01, 2019, 05:07:58 PM
 #6

Here in Brazil we have a "big" exchange that is suspected to fake the volumes, because if what they said is real, it's the higher volume in all the world
Coinmarketcap suspended and put a *, they are in investigation now

And it's was hacked and now almost all users are facing problems to withdraw

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August 01, 2019, 05:09:54 PM
 #7

It creates a manipulation threat. It is common in mostly non regulated exchanges. They create fake volume that makes the coins fragile and volatile asset. This is a major shortcoming in cryptocurrency, in order for a wider adoption we have to give much attention to this.
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August 01, 2019, 05:15:54 PM
 #8

...but A coin which is existed in everywhere, even big exchanges but still they create fake volume on small exchanges, what this means? Why they do that? Is everything just done by exchanges or project itself, and also that makes a clear difference in prices as compared to official price of market that makes frustrated.


Like what coins/tokens?

...Why they do that? Is everything just done by exchanges or project itself,

To create hype. Some altcoins are good for day trading. Creating a fake volume will attract more day traders.

We can't also hide the fact that low market cap coins do have whales. They can create fake volume and deceived anyone. And if people fall on the trap, these whales can now execute their magic button anytime to control the whole market of that coin. Examples are BLU, SDRN, IETH, etc.

Anyhow, I don't take CMC listing as a purpose why fake volumes are being created.

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August 01, 2019, 05:30:26 PM
 #9

At first how can altcoins make fake trade volumes? Do you mean making massive transactions to get listed on exchanges and attract attention? If yes, then I don't know what happens there. But if we talk about faking trade volumes, a lot of exchanges do it and there are researches done early of which exchanges are faking volume and by how much, google it if you are interested. They do this to become popular on coinmarketcap and you know, coinmarketcap has alexa rank between 200-300, so a lot of people visit this website and when they are looking for exchanges, fake volumes give them possibility to rank higher on coinmarketcap and this automatically leads to an increased number of users.
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August 01, 2019, 06:39:34 PM
 #10

Because its about the exchange, not coin.who want to trade on low volume exchange?selling is problem, buying is problem.so they use fake volume as advertisement.

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August 01, 2019, 06:53:54 PM
 #11

All Bitcoin trade volumes are false, this is because P2P and local bitcoin trades are not included in the published stats. I suspect this is where the largest volumes occur as well during normal trading periods.

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August 01, 2019, 07:41:04 PM
 #12

I've some concerns and queries, i observed that many altcoins even some major coins create fake volume, if a project is new and initially listed on a small exchange and create fake volume it's obvious understood that they're trying to get listed on coinmarketcap, but A coin which is existed in everywhere, even big exchanges but still they create fake volume on small exchanges, what this means? Why they do that? Is everything just done by exchanges or project itself, and also that makes a clear difference in prices as compared to official price of market that makes frustrated.


This happens a lot in many exchanges.
Because of that, I usually wait for some days to pass when a coin is listed in order to avoid fake trading volumes. Most of the times it is both projects and exchanges that make it fake in order to create hype and make profits both of them.

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August 01, 2019, 07:51:30 PM
 #13

Most of these exchanges are the ones that created those fake volumes for other market to capture their volume, even at the coinmarketcap they give out these exchanges volume based on their fake sent volume. What mentioning any exchange, there ate exchanges that are special with the fake volume delivering to their operators.

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August 01, 2019, 07:58:33 PM
 #14

All Bitcoin trade volumes are false, this is because P2P and local bitcoin trades are not included in the published stats. I suspect this is where the largest volumes occur as well during normal trading periods.

localbitcoins publishes volumes for all trades done through their escrow system: https://coin.dance/volume/localbitcoins

if you compare total global volume to just the biggest "legit" exchanges (like coinbase, kraken, bitstamp) it's actually fairly small. i think most people go through the exchanges. it's the most intuitive way to invest, similar to a stock broker.

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August 01, 2019, 08:12:37 PM
 #15

A coin which is existed in everywhere, even big exchanges but still they create fake volume on small exchanges, what this means?
Why they do that?
Is everything just done by exchanges or project itself, and also that makes a clear difference in prices as compared to official price of market that makes frustrated.

Obviously for publicity to attract buyers to raise the value of their stash.

A team behind a coin can't do that without the involvement of the exchange as them faking volume would end in them having to pay % of the volume they created by themselves.
As for the price, no in most cases, the price is not influenced because if you "manipulate" the price you must buy the coins from other sellers, again not a sure profit way.

What most small exchanges and teams do is simply fake the volume of trades.
They do this on small exchanges simply because it's cheaper!
It's one thing to bribe since and one to pay 1000$ to exchngeherexxxvvvmmm.info.com.store

You see that A buys at 3.2, B selles at 3.201 C buys at 3.2 again, but in reality, the actual legit orders which are placed at 3.19 and 3.21 never get executed. Or far easier they execute with high priority some trades at the same prices when the spread is big enough to not touch the real walls.
Of course, exchanges that have a history of faking volumes have more an more advanced scripts but the basics are still the same.


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August 01, 2019, 09:47:53 PM
 #16

Culprits here are the exchanges because projects can't access and change order book which is necessary to manipulate the figures

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August 01, 2019, 09:58:35 PM
 #17

There is only a single reason why volume is manipulated on exchanges.

The exchange or coin's company want's to showcase they have a lot of supporters (if the price is growing and there are a lot of users buying and selling their tokens, it looks like these fake people are interested in buying their coins).

Usually, it the company of the coin that wants their coin to be washed, and therefore pay a specific fee to the exchange for them to fake the volume - this is usually only possible on smaller exchanges, but there are a lot of large Asian exchanges that also perform in faking trade volumes/market making.

This is a very good explanation of how faking volume usually works.

You see that A buys at 3.2, B selles at 3.201 C buys at 3.2 again, but in reality, the actual legit orders which are placed at 3.19 and 3.21 never get executed. Or far easier they execute with high priority some trades at the same prices when the spread is big enough to not touch the real walls.
Of course, exchanges that have a history of faking volumes have more an more advanced scripts but the basics are still the same.

 
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August 01, 2019, 10:36:59 PM
 #18

I've some concerns and queries, i observed that many altcoins even some major coins create fake volume, if a project is new and initially listed on a small exchange and create fake volume it's obvious understood that they're trying to get listed on coinmarketcap, but A coin which is existed in everywhere, even big exchanges but still they create fake volume on small exchanges, what this means? Why they do that? Is everything just done by exchanges or project itself, and also that makes a clear difference in prices as compared to official price of market that makes frustrated.

As far I know, exchanges creates those fake volume to show that their exchange is very active (not sure though). Even the developers of those shit coins uses those trade bots to increase the volume to show people that the coin is not a "dead" coin. Unfortunately, some newbies fall for it and by just looking at the coins volume, they think it's going to be  a very good investment but ends up making a huge loss.

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August 01, 2019, 10:56:51 PM
 #19

Exchanges were the key support system for Cryptocurrency network, this makes them have a big control over the volumes. Fake trade volumes were once inspected and it made a huge crash to the entire market, and this isn't controllable. Even there were paid services from exchanges to show high volumes on specific assets.
Many countries already make a big threat to those who are responsible for manipulating the trade volume, and if there’s a regulation a strong like this, fake volumes can be lessen. But its true, exchanges are being paid for this and we don’t know if top exchanges are also doing this, its possible of course.
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August 02, 2019, 12:02:34 AM
 #20

There are several possibilities why exchangers choose to make fake volume. Like increasing liquidity to attract new traders to their platforms. Or fake volume is usually done by one trader but with multiple exchanger accounts by doing wash trading. and the third possibility is due to manipulation of the exchanger.

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