cryptocurrency trading volume is likely fake

[Jee]

Up to 86% of total reported cryptocurrency trading volume is likely fake, according to analysis of exchange website visits

The Block analyzed 48 cryptocurrency exchanges, focusing on monthly traffic over the past six months (ranging from November 2018 to April 2019)

There were nearly 800 million cryptocurrency exchange website visits in that time period
The Block compared the number of website visits to trading volume across exchanges to identify suspects that participate in faking trading volume, as indicated by disproportionately high volume relative to website visits
The exchanges that have by far the highest volume per website visit, and which are likely engaging in significant volume faking are Coineal, Fatbtc, BW, BitMax, LBank, DOBI Exchange, Bit-Z, DigiFinex, Idcm, DragonEX, ZB, CoinTiger, IDAX, Bibox, CoinBene, BitForex, Bithumb, Negocie Coins, Liquid and OKEx
On the other hand, Indodax, BX Thailand, Luno, CEX.IO, Zaif, and KuCoin do not appear to be faking any volume unless they are also engaging in faking traffic
Over the past six months, the total reported trading volume was $1.96 trillion, of which only $272.5 billion appears to be real trading volume on non-volume faking exchanges
About 86% of the trading volume looks to be fake with 65% of that total real volume originating on Binance and Bitfinex, both of which have virtually no regulatory oversight
Bitwise released a 104-page white paper on Friday, which examined exchanges for fake volume, and found that roughly 95% of reported trading volume in bitcoin is fake or non-economic in nature. Bitwise used screen scrapers to collect live trading data from over 80 exchanges for a period of several months. The only 10 exchanges that passed Bitwise’s

https://www.theblockcrypto.com/2019/05/28/up-to-86-of-total-reported-cryptocurrency-trading-volume-is-likely-fake-according-to-analysis-of-exchange-website-visits/

[Payme21]

Its a huge possibility but a lot need to be done in terms of proves before this cab hold water

[masterrex]

Up to 86% of total reported cryptocurrency trading volume is likely fake, according to analysis of exchange website visits

The Block analyzed 48 cryptocurrency exchanges, focusing on monthly traffic over the past six months (ranging from November 2018 to April 2019)

There were nearly 800 million cryptocurrency exchange website visits in that time period
The Block compared the number of website visits to trading volume across exchanges to identify suspects that participate in faking trading volume, as indicated by disproportionately high volume relative to website visits
The exchanges that have by far the highest volume per website visit, and which are likely engaging in significant volume faking are Coineal, Fatbtc, BW, BitMax, LBank, DOBI Exchange, Bit-Z, DigiFinex, Idcm, DragonEX, ZB, CoinTiger, IDAX, Bibox, CoinBene, BitForex, Bithumb, Negocie Coins, Liquid and OKEx
On the other hand, Indodax, BX Thailand, Luno, CEX.IO, Zaif, and KuCoin do not appear to be faking any volume unless they are also engaging in faking traffic
Over the past six months, the total reported trading volume was $1.96 trillion, of which only $272.5 billion appears to be real trading volume on non-volume faking exchanges
About 86% of the trading volume looks to be fake with 65% of that total real volume originating on Binance and Bitfinex, both of which have virtually no regulatory oversight
Bitwise released a 104-page white paper on Friday, which examined exchanges for fake volume, and found that roughly 95% of reported trading volume in bitcoin is fake or non-economic in nature. Bitwise used screen scrapers to collect live trading data from over 80 exchanges for a period of several months. The only 10 exchanges that passed Bitwise’s

https://www.theblockcrypto.com/2019/05/28/up-to-86-of-total-reported-cryptocurrency-trading-volume-is-likely-fake-according-to-analysis-of-exchange-website-visits/

Yeah absolutely True Bitforex is one of those, Im experiencing it when i try to sell its turns out that it was a void  (Wash order) Faked They do that to appear that it has a volume to show to attract traders.

[pelana vreo]

There are always crypto exchanges that do fake trading volumes, I have tried several times to trade by placing orders below the prices listed in the crypt exchange list, but the number of my orders has never been sold even though there is a trading history below the price I ordered.

[aiviaa485]

I thought it was like that because it was a dirty marketing method developed by dev exchanges that didn't want responsibility.
I am sure with such strength, that is the misuse of Exchange, the Exchange should be avoided to secure your assets.

[arnishad]

just few folks point out the dead of altcoin once bitcoin value rising, perhaps they were right, however solely a shitcoins can dead, not an honest altcoin
because the reality an honest altcoin can keep exist within the market my friend

[comer]

they need to fake the volume to attract more traders and show to the world that cryptocurrency is a lively place to earn money. Its just but true and its really rampant now a days in many exchanges in the space. If they don't fake volume then its dangerous for them to sink and traders will leave their platform.

[MUGNIA]

no wonder there are many markets with fake volumes, for now, they are competing for personal gain not for business
Unfortunately, market users will be more careful to trade in one market

[Claus]

I don't really believe this buddy. I have a problem with the website and source. Moreover, I think this is from someone and we shouldn't  conclude to all exchanges. Better still we can also look more into this.

[zendicator]

That is true. Almost all of the exchanges are fake volume except binance, bithumb, huobi, bitfinex. The exchanges uses fake volume in order to attract people to trade and because they want to get listed on coinmarketcap because they require a certain amount of volume to get listed there.

[Bobcrypto]

Yes, i dont think news any longer that many exchanges are engaged in faking coins volume to actract a huge members to trade on these platforms. Also there are few exchanges out there that has also distinguished themselves from this manipulations, and it is obvious that trading volume are being fake on a daily, weekly or monthly bases; a situation, that has affected most intending investors and even traders do business. I think the way out of this sinero is just a carefull selection of the suitable exchanges that are not part this hazard. This is absolutely a "crypto hazard" and we have be watchful.

[gotbounty]

This fact makes people be hard to trust with exchanges. I don't know what we should do wit the fake volume issues like this. Will we just trade on Binace only? For me, as long as the exchanges have no issues of the fake volumes and no problem on deposit + withdraw, I will trust them.

[debra]

Up to 86% of total reported cryptocurrency trading volume is likely fake, according to analysis of exchange website visits

It is a high possibility of fake volume. 86% is not a small number for the reports. It is truly a warning for all crypto users that we never trust 100% on exchanges. Never store our assets on certain exchanges for a long time and no store 100% assets there.

[TERENCIO]

Cryptocurrency or Stock Market  it's full of manipulation and it's very hard to prevent those whales who are engage in wash trading to quickly build their trading volume so they could enjoy a lower fee structure.

[trauchot]

Quite right, almost all exchanges use various bots and wind up volume, only the most top exchanges do not do this, for example, binance, I think it has long been known to everyone.