What is the solution about CMC fake volume..?

[Edraket31]

As per CMC, they are charging 'free listing' so, they don't care much of it, they are just after the number of users visiting their website, so don't just rely on it, for comparison use other market cap ranking system or go to the exchange itself.

As far as I know the CMC is not including those exchanges who has a fake volume. But I hope that they will delist those coins who are not supposedly be there and has proven to be scam.

[Text]

Then don't just rely only in one source. CMC is a good reference but it is better if you can also look for alternative and compare it. Its a huge data, exchanges/coin/tokens/prices/volume and etc., they can't handle it all anymore at the same time. What you can do is check the specific thing you are following then read the reviews/feedbacks and see it for yourself.

[EdvinZ]

I know two resources that show statistics on all cryptocurrency exchanges. The first is good old Coinmarketcap, the second is Coingecko. They're both good. If you doubt that an exchange provides you with false data on trading volume, then just look at behavior of orders in stock glass. Bots raising trading volumes it is easy to recognize.

[alan2here]

I think CMC could not detect between real transaction and bots transaction because those 2 are similiar and the bost also using people's name like usual.
So, we have to experienced trading on the market first before we can feel the volume on the market is from bots or no. Or we hope CMC can handle those bots with their engine in the future

This month there will be a lot of news related to CMC and the thing that people are most interested in is the elimination of fake trading volumes of more than 100 different exchanges available in this market. Actually, when I looked at the top exchanges at CMC, I was very surprised and found it very funny because exchanges like P2P, Latoken always have very high rank. In my opinion, if I cannot eliminate fake trading volume in the near future, I will definitely never go to CMC again because everything here is false.

Also what worries me the most is the manipulation of CMC because many of the coins listed here are not updated and make the project easy to be forgotten.

[desticy]

Little can be done with this problem; first of all, you can use the services of a site that provides access to real volumes. On it you can see which exchanges to wind up their volumes, and which not.
The winding up of volumes occurs through the use of bots that trade among themselves, the exchange buys from itself and sells to itself. At the same time, it is quite difficult for real people to sell any coins on a similar exchange because bots do not respond to their orders. Unfortunately, the entire crypto market holds on to fake trading.

[wajik-tempe]

Little can be done with this problem; first of all, you can use the services of a site that provides access to real volumes. On it you can see which exchanges to wind up their volumes, and which not.
The winding up of volumes occurs through the use of bots that trade among themselves, the exchange buys from itself and sells to itself. At the same time, it is quite difficult for real people to sell any coins on a similar exchange because bots do not respond to their orders. Unfortunately, the entire crypto market holds on to fake trading.

Please let us know which website that you talking about that have a feature that provides access to real volume, because i'm looking for that. Exchanges right now is really hard to track, many exchanges looks so crowded with big daily volume but they filled it with bots. and also it might be from the exchanges itself but from the people outside that made a bots for those exchanges and the exchange could do nothing with it.

[daarul50]

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess. But my thought is how much trust able CMC for trading or knowing a new exchange or coins..? I mean couple of shit exchange sometimes make top in CMC. People will easily confuse that which exchange or coins are safe investment for that kinda fake volume. So my question is...

1. How can an exchange create such a fake volume..?
2. What is the best solution for this problem..?
3. Are CMC authority take any steps for those problems yet..?
4. If they'll not take any steps will it be a good idea to ignore CMC and find some new Market Cap website like CoinGecko..? (Though i don't know how much trust worthy this website also)

Please feel free to share your thoughts.

-TIA  

Best Regards
-Prince

1) fake volume is made up of bots in exchanges. For large exchanges, they also always create bots to create more liquidity for exchanges. It always trades non-stop every 10 seconds or 30 seconds.
We have almost no solution because there are no rules in the crypto market. But anyway, you can still liquidate a lot of large exchanges and traders feel the same way, so we have no one to sue for fake volumes.

that is correct , i have been trade on huobi, okex and digifinex they are a joke.

the faking volume is vey obvious made by them , it is obviously wash trading where the bots making buy and sell order for their own. i have an experience where i put my sell order @7500 usdt it never gets sold but i see there a lot of trade activity going on history tab that other sell order below 7500 usdt has been executed several times , what the fuck.
cmc fully aware about this matter but none action taken so far , i guess when money talk , everything is clear.

did cmc doing that for the sake of money over reputation?

[michellee]

1. I think it is easy for CMC to create a fake volume even they don't have to tells us.
2. The best solution is you don't need to use CMC as your guide to finding the exchange.
3. I am not sure because I do not always check CMC daily.
4. You can use coingecko or another similar site to find more information about the exchange.

The best you can do is you can check on the exchange directly without visiting on the CMC so you can see what is happening to that exchange, although if you can find more information, then it will give another benefit to you.

[Coin_trader]

As per CMC, they are charging 'free listing' so, they don't care much of it, they are just after the number of users visiting their website, so don't just rely on it, for comparison use other market cap ranking system or go to the exchange itself.

As far as I know the CMC is not including those exchanges who has a fake volume. But I hope that they will delist those coins who are not supposedly be there and has proven to be scam.

All crypto exchange has fake volumes excluding Coinbase, Binance NJ and DEX (This exchange which I know so far). Coinmarketcap has nothing to do about it since they just showing the feed given by the exchange itself. The regulation is the only key to let this shitty exchange show its real volume. Currently. There is no official regulator that monitoring the exchange transaction which results in many exchanges is freely doing wash trading.
But the problem is the SEC requirements are very hard to accomplish that's why many exchanges are going to a country with poor jurisdiction about crypto law. I wonder if there will be a solution for this crypto problem if ever exchanges will never be regulated.

[Mahanton]

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess. But my thought is how much trust able CMC for trading or knowing a new exchange or coins..? I mean couple of shit exchange sometimes make top in CMC. People will easily confuse that which exchange or coins are safe investment for that kinda fake volume. So my question is...

This is where you do make some verifications before you do tend to jump in into a new or unknown exchange.They might able to top on CMC
but doesnt mean that they do had that solid liquidity which would be considered to be a good exchange and as said where anything can be faked out.
This is why i dont easily trust up CMC unless if do see those casual top tier exchange to had some high volumes then there nothing wrong with it.
Wash trading or faking stats had been known already on the past even big exchangers do have some issues with it.

[rijaljun]

I'm not sure what they could do anyway.  There are many exchanges and so many coins on the market that it would be a nightmare to verify legitimacy even if they were so inclined to do more about the problem.

It sucks that you have to take the volume numbers with a grain of salt, but so be it.  This won't change until these exchanges start getting honest, and I doubt that's going to change.  Ever.

I am very much sure they could do that, they should have completely deleted the fake volumes from their website. In my opinion, CoinMarketCap team just don't want to be busy with that. Right, they think they have no strong competitor and that is why they don't take much moves.

[riso2015]

I am very much sure they could do that, they should have completely deleted the fake volumes from their website. In my opinion, CoinMarketCap team just don't want to be busy with that. Right, they think they have no strong competitor and that is why they don't take much moves.

They don't think about it because they have already been paid, Every project is free to ask anything to them because if you have paid CMC then the volume of your coins can be manipulated. My suggestion is better you not only check there, but you also have to check into various similar sites.

[Polar91]

What is the best solution for this problem..?

You may use other trackers but I think some of them displays same data as CMC thus for me the best solution is just to check the validity of the data from coinmarkercap directly to an exchange. It's quite tedious do since you have to visit each exchange's volume for that particular altcoin but it's the most accurate way to distinguish the validity of its volume. CMC is such great tool to find available exchanges for the coin you wanted to trade; volume information is just a bonus.

[Ararbermas]

Relying on CMC is not safe mate because sometimes they are not updated in what is happening in some of the projects listed on thier site. . Wherein for example  there is a scenario happen that can affect the volume. So be aware!  If i were you always try to search in google for updated results because in fact there are some good exchange nowadays where you can find some certain volumes of the coin wherein even you are not yet registered on the site,  what i mean you are able to view all the information of the coin without further do.

[NeuroticFish]

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess.

Mine doesn't. While I check the price (too) many times a day, the actual volumes don't matter that much to me.
But I don't day-trade.

Now about your problems:
There are plenty of 3rd party websites which may do a better or worse job in the matter. A link to them was already posted.
But (and this is what I feel it's missing) depending on the method an exchange uses to inflate the volumes, in some cases this cannot be noticed easily (or at all).
For this to be checked properly 3rd party audit would be needed, which nowadays doesn't happen (or it's not focused on fake volumes).

[MURONDI]

the exchange of fake volumes will reduce coinmarketcap's reputation, Coinmarketcap should act immediately to remove exchanges with fake volumes, exchanges with fake volumes should be reported immediately so that they no longer operate.

[zeze18]

the exchange of fake volumes will reduce coinmarketcap's reputation, Coinmarketcap should act immediately to remove exchanges with fake volumes, exchanges with fake volumes should be reported immediately so that they no longer operate.

It won't reduce it's reputation because CMC is already did what they should did which calculating realtime the volume of the exchanges transactions. The problem is from the exchange that can't handle the bots transactions and make the volume faking a big result. And sometimes the exchange itself placing bots on their exchange so their exchange looks big

[rijaljun]

They don't think about it because they have already been paid, Every project is free to ask anything to them because if you have paid CMC then the volume of your coins can be manipulated. My suggestion is better you not only check there, but you also have to check into various similar sites.

Are you trying to say that CoinMarketCap is involved in creating fake volumes?

Oh god, Where can I find about this information?

[buwaytress]

I really don't get the outrage at CMC. They're a centralised service, they've given their service free, shame on anyone who uses their data, or anyone else's data, as the gospel truth and the final word on anything.

Do I use CMC? Sure, it's a quick overview of some things, they're accurate enough to satisfy my curiosity, and you know what? It's rather reliably helped me see markets for some coins, and where Bitcoin's priciest (and vice versa).

It's a free service, and they have an agenda. Big shock.

[ashmodeus]

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess. But my thought is how much trust able CMC for trading or knowing a new exchange or coins..? I mean couple of shit exchange sometimes make top in CMC. People will easily confuse that which exchange or coins are safe investment for that kinda fake volume. So my question is...

1. How can an exchange create such a fake volume..?
2. What is the best solution for this problem..?
3. Are CMC authority take any steps for those problems yet..?
4. If they'll not take any steps will it be a good idea to ignore CMC and find some new Market Cap website like CoinGecko..? (Though i don't know how much trust worthy this website also)

Please feel free to share your thoughts.

-TIA  

Best Regards
-Prince

oh guys, you make a simple problem be hard.
don't look to another exchange/coins raising quickly,
just focused to exchange/coins what u choose on the beginning.
and you will be safe as well.
because, its like a common problem on crypto world about manipulation or something like that.