CoinMarketCap Continues Listing Exchanges With Fake Trading Volume

[cheezcarls]

CoinMarketCap recently launched a ‘liquidity’ metric to give users a look at the real trading volume of exchanges. Yet, CoinMarketCap continues to list these exchanges with just dollars in actual volume.

If you browse CoinMarketCap, you will see some strange numbers on most of the major trading pairs.

Source link here

I know that CoinMarketCap is doing great, but they have to do it better if they want to maintain a good reputation in the long run. As they continue listing exchanges with fake trading volume, this isn't great as more and more would likely get pissed.

Like there's one exchange (which I don't want to name them) which my friend thought that their trading volume is so enormous, which is good for IEO. He convinced the crypto startup to do IEO there, and he agreed. They pay for more like $1,000+. You know what? After their first round of IEO, no sales.

They just realized that exchange has fake trading volume, and learned their lesson too. I just hope that CoinMarketCap should implement stricter rules for exchanges to get listed that are not producing fake trading volume.

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[BitHodler]

Not a surprise. I don't think there is any point in expecting Coinmarketcap to change and no longer list exchanges with fake trading volumes, especially with how you can't really know beforehand that exchanges are faking volumes.

If people were actually paying for their service then I would say that they have the right to complain, but in this case it's all free information they provide. It's mostly inaccurate information volume wise, but free.

There are various alternatives providing a better service, but people choose to stick to Coinmarketcap despite their complaints. If you want to know the volumes just visit your exchange(s) or go on tradingview and count the volume per bar.

[ene1980]

I know that CoinMarketCap is doing great, but they have to do it better if they want to maintain a good reputation in the long run. As they continue listing exchanges with fake trading volume, this isn't great as more and more would likely get pissed.

CMC proved to prefer money than reputation and they have proved that time and again.

Like there's one exchange (which I don't want to name them) which my friend thought that their trading volume is so enormous, which is good for IEO. He convinced the crypto startup to do IEO there, and he agreed. They pay for more like $1,000+. You know what? After their first round of IEO, no sales.

If any of these exchanges scammed anyone, make sure they start a scam accusation so that everyone should know about it and in the future no one gets scammed.

They just realized that exchange has fake trading volume, and learned their lesson too. I just hope that CoinMarketCap should implement stricter rules for exchanges to get listed that are not producing fake trading volume.

Fake volumes are a real problem in the market and you cannot trust any exchanges showing those volume and all you need to do is view the alexa rankings and the number of visitors in the site and then you will get a vague idea whether the volume is almost correct or completely bullshit.

[jrrsparkles]

This is another lesson for everyone who assumes the trading volume just by looking at the coinmarketcap sites, we have to enter into the exchanges and see the actual trading is happening or not even bot orders maybe identified if we closely watch them. Coinmarketcap is here for money so we can't blame them as well we need to be aware of these things in future and try to avoid exchanges with fake volumes.

[Bttzed03]

This is coinmarketcap keeping their business up while providing site visitors with tools to make up their own mind whether they will believe the data provided or not. If I were to check an exchange on CMC, I would ignore the reported volume or adjusted volume and use the liquidity metric instead.

[shoreno]

This is another lesson for everyone who assumes the trading volume just by looking at the coinmarketcap sites, we have to enter into the exchanges and see the actual trading is happening or not even bot orders maybe identified if we closely watch them. Coinmarketcap is here for money so we can't blame them as well we need to be aware of these things in future and try to avoid exchanges with fake volumes.

that is the best way to do if we are skeptical about the data that we see on cmc but sometimes people are just lazy to do a manual check up for every exchange that they want to use but instead they only use cmc to check the data that they wanted to know and they blame cmc if there are questionable volume that they think not right.  anyway there are many alternative to cmc and we can also try those others , let see if they are better in providing info's than cmc or not

[safari88]

Like there's one exchange (which I don't want to name them) which my friend thought that their trading volume is so enormous, which is good for IEO. He convinced the crypto startup to do IEO there, and he agreed. They pay for more like $1,000+. You know what? After their first round of IEO, no sales.

They just realized that exchange has fake trading volume, and learned their lesson too. I just hope that CoinMarketCap should implement stricter rules for exchanges to get listed that are not producing fake trading volume.

why don't you share the name of the exchange? so every user can know about that exchange and never trading there

[sunsilk]

It's coinmarketcap mate and most of the volumes there from unknown or known exchanges can easily modified by them. IIRC, it's the first time to see that they have these coins pump in thousands of percentage just like these.

[jrrsparkles]

This is another lesson for everyone who assumes the trading volume just by looking at the coinmarketcap sites, we have to enter into the exchanges and see the actual trading is happening or not even bot orders maybe identified if we closely watch them. Coinmarketcap is here for money so we can't blame them as well we need to be aware of these things in future and try to avoid exchanges with fake volumes.

that is the best way to do if we are skeptical about the data that we see on cmc but sometimes people are just lazy to do a manual check up for every exchange that they want to use but instead they only use cmc to check the data that they wanted to know and they blame cmc if there are questionable volume that they think not right.  anyway there are many alternative to cmc and we can also try those others , let see if they are better in providing info's than cmc or not

Any crypto tracking website is not 100% accurate and also they have different criteria to list an exchange and coin but comparing might give an idea if the site is manipulating the volume or prices but if exchange itself doing manipulation then it may not be found by comparing so manual analysis will be the best way.

[Dalmar]

This is another lesson for everyone who assumes the trading volume just by looking at the coinmarketcap sites, we have to enter into the exchanges and see the actual trading is happening or not even bot orders maybe identified if we closely watch them. Coinmarketcap is here for money so we can't blame them as well we need to be aware of these things in future and try to avoid exchanges with fake volumes.

that is the best way to do if we are skeptical about the data that we see on cmc but sometimes people are just lazy to do a manual check up for every exchange that they want to use but instead they only use cmc to check the data that they wanted to know and they blame cmc if there are questionable volume that they think not right.  anyway there are many alternative to cmc and we can also try those others , let see if they are better in providing info's than cmc or not

Any crypto tracking website is not 100% accurate and also they have different criteria to list an exchange and coin but comparing might give an idea if the site is manipulating the volume or prices but if exchange itself doing manipulation then it may not be found by comparing so manual analysis will be the best way.

I doubt the CMC has a speculative interest to show the higher volumes for the precise altcoin pair, the exchanges should use wash trading for increasing the volume. The API is used for measuring the volume which determined with the numbers based on the order book,  fake trading volume is trap fro attracting pump-dump traders, in my opinion.

[notblox1]

People should stop using coinmarketcap and witch to other alternative websites like coingecko.
There is no perfect website to show real volume, but we don't have to trust and use cmc

[leea-1334]

Guys, why are you so surprised? CMC will always be listing exchange volume as they can determine,,, and it is up to you to decide how you want to use the data. Nobody ever said you should follow CMC to decide whether to trade or invest! Besides now there is liquidity metric which you should also use to see how "real" the trade volume is.