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Author Topic: Fake trade volumes  (Read 587 times)
Pamadar
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September 11, 2019, 12:33:27 PM
 #61

Almost every market has fake volume and they use bot.somehow they have to use them because marketcap is very low and they need a trader.which of us invest at very low volume market?
Do we need to fool others just for the sake to earn money and gain reputation?  How bad is that? I don't think it will help and I don't know how it gains reputation, instead it is in the opposite.
Some of us are too greedy,  they make ways just to find the solution of their problems without knowing what would happen next.  It is not we need to fake the market volume cause it only promote negativity and investors won't give trust at all.

Those project with fake volumes just aim to get easy and quick profits.
They don't care about their reputation afterwards, so they are focusing more on making a "buzz" around their project and coin in order to make it gain value. When investors realize that this volume is fake it would be already the time when they would have acquired their profits.
They are not concerned to what extent it will affects their project, they are after the money and nothing else, even dealing with fakes volumes to attract traders to join the ride and make it looks realistic, victims will only notice things after placing their entry.

There's a need of carefully analyzing things inside any market as bot are all over the place making fake information to attract investors interest.

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September 11, 2019, 12:56:35 PM
 #62

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.

Well even if they are doing, at least they have solid volume underneath it.

Small exchanges doing that is very obvious. You see orders doesn't move but transactions coming out of nowhere. It is very easy to spot on.

Quite true! even big exchanges often resort to this tactic since there is no way to verify accurately trade transactions within those
centralized exchanges and this comes the advantage of using DEX's, enabling us to verify those trade transactions but unfortunately,
DEX's are also vulnerable to wash trading.
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September 12, 2019, 11:01:25 AM
 #63

Coins themselves almost never do it.
The listing on CMC also in 99% of time gets you nowhere, noone is noticng the bottom 2000 coins , only if they are heavily manipulated.

Exchanges fake volumes to get higher in some lists as in CMC exchange list to get more attention and customers.

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September 13, 2019, 07:00:01 AM
 #64

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.


We have this so called P&D (pump and dump) groups. So this group will initially boost the price and it will look like a fake volumes or at least not organic. So obviously they do this to make more money specially from newbies who thought that the coins is having a parabolic run. They buy and when you don't expect the price suddenly goes down on a downward spiral.

Or it could be the project themselves, trying to fake it out that investors are really spewing money making and maybe other investors would join the fun.

If you wanted to know which exchanges are faking their volume, you can read the reports here.

https://www.bti.live/reports-april2019/

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September 13, 2019, 08:27:00 AM
 #65

It really happens in some exchange big or small. They manipulate it so people would buy that coin or token, the project might also have a responsibility on that to gain more profits. There are also group of people who manipulate the market by buying and dumping the coin/s and nowadays it seems normal.

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September 13, 2019, 06:48:55 PM
 #66

It really happens in some exchange big or small. They manipulate it so people would buy that coin or token, the project might also have a responsibility on that to gain more profits. There are also group of people who manipulate the market by buying and dumping the coin/s and nowadays it seems normal.
I do not even want to believe that any big exchange that already has a very high genuine volume would have any reason to fake volume again, because with high volume, traders are able to execute their orders immediately and they would have no reason to leave the exchange, which they will keep getting referral that will enable them have more and more increase volume.

Like he said, mist fake volumes are actually as a result of low patronage, because many of us are fund of always giving thumbs up to those exchanges that are already big, neglecting the new ones and forgetting that they need that to grow, so I would not easily condemn them for their action, but I will frown at those who are already old and still using fake volume.

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September 13, 2019, 11:17:46 PM
 #67

Many crypto coin trading are created base on there prospect of the usage in the crypto community, hence on the trading platform is a function of peer to peer system, that means, it has volume in the market, base on the number of demand and supply across the nation.
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September 13, 2019, 11:58:23 PM
 #68

Trust me, there's no exchange here that doesn't create fake volumes. There are some basic things in my mind I'd like to share:

Exchanges create fake volume in order to:

- Gain more customers' attraction to bring in more people
- Make the alt more popular to get it listed somewhere else on a more reputed exchange if this exchange holds some % as a stake
- Get more people to trade it to earn on fees (like Binance's trading competition)
- To make people believe that they've got the steam in order to get the exchange going as high volume is all we look for if we've got enough stake in an alt we decide to sell at some point

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September 14, 2019, 05:31:32 PM
 #69

Coins themselves almost never do it.
The listing on CMC also in 99% of time gets you nowhere, noone is noticng the bottom 2000 coins , only if they are heavily manipulated.

Exchanges fake volumes to get higher in some lists as in CMC exchange list to get more attention and customers.
That is quite bad, it shows that we have been leaving on fake data all along and then what assurance do we have that those coins that we do call the senior ones are actually the ones that are very active and we keep blaming projects dyeing, how will project not die when the real ones that are working and meant to be showcased on coinmarketcap are not being show cased, and even o exchanges too.

There is a need for something to really be done about this fake volume but exchanges, projects and even ranking site. The annoying thing about this fake volume by exchanges is that, you will see an exchange that is already big and have enough users, they still mix fake volume with it and I ask why they have to do so since they already have their popularity.

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September 14, 2019, 06:18:05 PM
 #70

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.



The technique of many Exchanges may be to increase the volume through bots, but it must be remembered that there is no consolidated volume that takes into account all Exchanges, that is why in each Exchange it has its own volume, not even CMC takes in It counts the volume of some Exchanges as localbitcoins, and Korean exchanges, and the study of the volumes is very important when making decisions for trading.

A good way to get an idea of ​​the volume is to review the one shown by Bitfinex, Coinbase, which are Exchanges that handle a large number of traders and investors.

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September 14, 2019, 08:02:46 PM
 #71

The exchange are also responsible for this, they tend to create fake volume so as to draw the attention of investors that their exchange has a high trading volume,

 I've seen lots of exchange that does not reach the standard of Binance exchange,  and they have a higher exchange volumes than Binance due to the fake volume being created

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September 14, 2019, 11:10:44 PM
 #72

Coins themselves almost never do it.
The listing on CMC also in 99% of time gets you nowhere, noone is noticng the bottom 2000 coins , only if they are heavily manipulated.

Exchanges fake volumes to get higher in some lists as in CMC exchange list to get more attention and customers.

Coin/token teams also have incentives to pump fake volume, making it easier for them to cash out as increased volume lures others into buying/hodling the coin/token in question:

https://www.coindesk.com/for-15k-hell-fake-your-exchange-volume-youll-get-on-coinmarketcap

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September 15, 2019, 12:46:33 AM
 #73

The exchange are also responsible for this, they tend to create fake volume so as to draw the attention of investors that their exchange has a high trading volume,

So it make them fraudulent in your opinion? If they themselves are creating fake volumes?
Should investors stay away from that exchanges?

I've seen lots of exchange that does not reach the standard of Binance exchange,  and they have a higher exchange volumes than Binance due to the fake volume being created

There's no way to catch Binance at this point, if they are levering their exchanges on Binance platform then there's really something wrong with that.

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September 15, 2019, 04:52:34 AM
 #74

The major causes of this are either from unreputable exchanges that are not governed by any regulation or the team behind the project itself that want to trick unsuspected newbie in order to dump their token.

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September 15, 2019, 05:04:47 AM
 #75

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.

There are two different methodologies used for faking trade volumes. The first is the easiest one. The promoters of shitcoins contact the smaller exchanges and in collusion, they rig the order books. But this is not a very effective method, as coinmarketcap has now devised methodology to identify such coins and exclude them from their platform.

The second methodology is to contact "specialists" who can get your coin listed in coinmarketcap. The exchange owners are not involved here, and the specialist will manipulate the trading volume using bots and this can be very difficult to detect. As per reliable sources, the fee charged for this "service" can range from $10,000 to $20,000 per coin. More details can be found here:

https://www.coindesk.com/for-15k-hell-fake-your-exchange-volume-youll-get-on-coinmarketcap
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September 15, 2019, 08:04:09 AM
 #76

The major causes of this are either from unreputable exchanges that are not governed by any regulation or the team behind the project itself that want to trick unsuspected newbie in order to dump their token.
All the possibilities that it will come out in our mind are negatives. No other reason behind that action is to strick and look attractive. And for us who know already about this, there is no reason why we've been a victim with them and most probably they look for the newcomers.

With all this fraud and scamming actions, it only turning them back as they are just ruining their reputation instead of gaining more market attraction.
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September 15, 2019, 03:55:20 PM
 #77

It really happens in some exchange big or small. They manipulate it so people would buy that coin or token, the project might also have a responsibility on that to gain more profits. There are also group of people who manipulate the market by buying and dumping the coin/s and nowadays it seems normal.

Manipulations are usually done with a goal or purpose and in the case of exchanges they are enticing more business more revenues and of course more profits. However, this is not helping the whole cryptocurrency industry especially if we have to look into the long-term prospect. There is a need to stop this malady as it is the industry that will actually suffer and such manipulations of data can victimize many investors and traders leading them into wrong conclusions in their decision making. There should be penalties against exchanges proven to allow data manipulations to happen.
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September 15, 2019, 05:06:37 PM
 #78

That fake data can be manipulated by exchanger's team, so they can freely to create trade volumes even in major altcoin. It usually happens in a newly listed coin that the dev pay exchanger to manipulate it. To avoid this case, you just trade on recommended exchange or your favourite exchange and don't ever-interesting on the newest listed coin.

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September 15, 2019, 06:27:11 PM
 #79

That fake data can be manipulated by exchanger's team, so they can freely to create trade volumes even in major altcoin. It usually happens in a newly listed coin that the dev pay exchanger to manipulate it. To avoid this case, you just trade on recommended exchange or your favourite exchange and don't ever-interesting on the newest listed coin.

If you read the reply before you, they explain how these fake volume are generated.  It is better to have a group of people to manipulate a coin's trading volume than the exchanges itself.  Having a group of people trading with each other will look like more legit than exchanges doing them since different people trading means different traffic is accessing the exchange site.  The more traffic these group creates in trading the more legit their trading looks.

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.

They do this fake volume for the reason of increasing the exposure of their token/coins.  If you are one of the top trading volume in an exchange, your cryptocurrency name will be flashed at the top of the site where it shows its top trading volume list.  Traders will then see the cryptocurrency and might take interest to invest on it.  Others do it to be listed on CMC for further exposure.

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September 15, 2019, 08:17:54 PM
 #80

There's a lot of exchange that has a fake volumes and they not directly called it a bot but they will told to the traders that is a market maker.

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