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Author Topic: Exchanges and fake volume  (Read 245 times)

katemi

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Exchanges and fake volume
« on: January 24, 2019, 04:28:36 AM »
This is really getting out of hand, Now every exchange that comes out of nowhere is faking their volume to show better liquidity in order to gain some users and the worst part is that it is getting quite common as if it's nothing serious happening here and now that market cap is plummeting it's getting worse and worse.

And i'm not talking about small amounts here, I'm talking about faking more than 95% percent of volume in almost every pair, The newer the exchange, the more bogus the volume.

An example to better understand the situation, You want to buy some tokens on said exchanges, the exchange shows the last trade on that specific pair was at 0.00001255 price and it was a sell , Let's say you put your buy order on orderbook on exactly that price so the order maybe can go through quicker, You wait for a while and you will notice that your order didn't get filled but at the same time you notice there are  same or lower bid prices than yours that are going through on trade history even tough these orders are nowhere to be seen on orderbooks before execution, Then you put a higher bid than that and again nothing will happen, This will continue until you decide to just take an existing sell order from the order book and get done with it.

It was just about two weeks ago that Upbit exchange got caught frauding trillions KRW on fake orders, Before this news this exchange claimed to have more than 90% of the total volume on a token(not going to mention the name for shilling reasons), It means this exchange stood higher in volume than other top exchanges that said token was listed on, They were simple minded enough to push their volume higher than old known exchanges by a huge difference.

The problem with all of this is mainly the trust issue that it causes, Cryptocurrencies are already struggling enough to adopt by consensus, Literally the first thing that someone wants to enter cryptocurrency trading or investing does is to buy from exchanges, And what happens if the first thing you encounter isn't something you would consider reliable and trustworthy ?

josephabad23

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Re: Exchanges and fake volume
« Reply #1 on: January 24, 2019, 06:08:47 AM »
I agree with you on this bro, almost all of the good exchange with high volume are doing this fake volume to meet their minimum requirements they called this market maker.

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Redix

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Re: Exchanges and fake volume
« Reply #2 on: January 24, 2019, 07:04:14 AM »
Can you specify whether the cases for decentralized exchange or centralized exchange? Since there is no institution that controls the exchanges around the world, this cases will be always happened. We will be difficult to find the solution, mate. We should be smarter and careful to analyze the exchanges and the volumes.. 

jenica

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Re: Exchanges and fake volume
« Reply #3 on: January 24, 2019, 08:15:47 AM »
This is one main reason why you shouldn't care about volume when making a trading decision, it should be the least of your concern, it's funny to see that many people say "volume is increasing on x coin, good time to buy" or "volume is decreasing this looks bad for the coin, sell it" . crypto market is very small, especially those small market cap coins, they can be manipulated very easily by a single player

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Re: Exchanges and fake volume
« Reply #4 on: January 24, 2019, 03:43:28 PM »
This is one main reason why you shouldn't care about volume when making a trading decision, it should be the least of your concern, it's funny to see that many people say "volume is increasing on x coin, good time to buy" or "volume is decreasing this looks bad for the coin, sell it" . crypto market is very small, especially those small market cap coins, they can be manipulated very easily by a single player

That's right, all can be manipulated by one player if he wants to. But that does not put pressure on the coin to rise higher

khufuking

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Re: Exchanges and fake volume
« Reply #5 on: January 24, 2019, 08:16:09 PM »
I have noticed this and experience it later on some exchanges, they usually fake volume with bots, and that what I discovered, let's say that for a certain currency the sell orders are at 0.000215 you will notice that there is a lot of buy happening very fast without even appear on order book and all the buy is between 0.000214-0.000213 so I want to sell at these prices but every time I place an order at the same level of 0.000214-0.000213 the buying starting to move down to 0.000212-0.0002111 and so on, why I say that this happens with bots? It is because I managed to trape them buying my orders a couple of times you just need to be super fast.

Barb

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Re: Exchanges and fake volume
« Reply #6 on: January 25, 2019, 10:12:05 AM »
The fake volume is because they use bot to automatically put order to increase their total volume, so that they can climb higher in the top exchange when they summarize by total volume

Zen10

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Re: Exchanges and fake volume
« Reply #7 on: January 25, 2019, 02:29:38 PM »
This is one main reason why you shouldn't care about volume when making a trading decision, it should be the least of your concern, it's funny to see that many people say "volume is increasing on x coin, good time to buy" or "volume is decreasing this looks bad for the coin, sell it" . crypto market is very small, especially those small market cap coins, they can be manipulated very easily by a single player

I guess it depends on which exchange. If I am trading on bigger exchanges, I would definitely consider the volume before making a decision.
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