Are there many fake crypto volume platforms?

[Bobcrypto]

Sometimes i get very curious to certain info about crypto volumes on exhange platforms untill i read an article on one of these sites about fake volumes. It stated in this quote, "The Blockchain Transparency Institute is questioning up-to 87 percent transactions done on 25 top global crypto exchanges. Known as ‘wash trading’ trading platforms are embellishing their trading volumes to market their selling power." Please what do think about this crypto situation?

[sturec22]

There are only 10 exchanges in the "big ones" that have actual volume (Bitmex is ignored they're a derivative exchange, the CME too)
Binance(110M), Bitfinex(38M), Kraken(31M) Bitstamp (31M) Coinbase(27M) bitFlyer(14M) GEMINI(8M) itBit(6M) BITTREX(5M) POLONIEX(1.4M)
The CME does volumes of around 75 million $, so they're quite relevant. If the total is 1.5 billion with Bitmex at 1 bil + the ones listed there + all the small ones, the Chicago Mercantile Exchange does 5% (less since they are closed the weekend).

[I-Bit]

Yes, it is true. I have heard there are many fake volumes on crypto trading. Some exchanges are indicated to do that. It may be done to attract people to trade their crypto on those exchanges. So, we must be careful to decide on what exchanges to trade. We are better to choose the most recommended exchanges.

[debra]

I don't have exact proof to say so. However, the possibilities are there. We may know that today, there are so many new exchanges of the cryptos emerging. They sometimes have a certain volume, but sometimes, it can increase or decrease easily.

[Cutter Cute]

Binance has the highest crypto trading volume, but there are several other exchanges that use bots in the order volume until the remaining orders are only lost. When talking about trading volume, we will definitely discuss crypto exchanges, so I prefer to trade on the DEX exchange because there we really have full control over our trade

[ZionRTZ]

I believe you got the answer to your question from your post alone. I don't really get why people do it other than to entice new traders to use the exchange platform. Unfortunately, there are still new traders who fall victim to these schemes. 

[Zed0X]

I guess this is the downside of having trading bots in top exchanges. Wash trading and pumping up volume was made easier. Users should be more discerning before trading on all cryptocurrency exchanges.

[LogiC]

Sometimes i get very curious to certain info about crypto volumes on exhange platforms untill i read an article on one of these sites about fake volumes. It stated in this quote, "The Blockchain Transparency Institute is questioning up-to 87 percent transactions done on 25 top global crypto exchanges. Known as ‘wash trading’ trading platforms are embellishing their trading volumes to market their selling power." Please what do think about this crypto situation?

I think its true. There is a report made that only few exchange has real volume and that includes binance, bitfinex, kraken and 7 more. And all aside from it are all fake volumes. I think its true, compared those exchanges to thw one not in the list you can see something going on around the corner. Im not saying binance is totally clean. But they are far most effective and bigger volume exchange.

I guess this is the downside of having trading bots in top exchanges. Wash trading and pumping up volume was made easier. Users should be more discerning before trading on all cryptocurrency exchanges.

[Black ID]

It is possible to think that some volume on the market may be fake only to gain more investors to be attracted in certain coins or to gain the investors to use the exchange platform. So far, that may be one of the strategies to invite investors. That is why we must be careful.

[Plnshah65]

Yes many crypto ico marketing fully fake marketing volumes, I am a victim of such kind of fake volumes WPP energy token. I face a huge amount of losses.

[backfirst77]

I have experienced myself with fake volume in the market and it can be misleading when we trade. Because we think at this time the transaction volume is big and it turns out that it is just a fake that makes the trading plan fall apart because it cannot get out of the market and has to be forced to sell losses to switch to another exchange.

[corr]

everything is possible. for their popularity, some exchanges do not spare money and therefore pour a large number of claws into advertising by telling them what a cool security system is, or that they have the largest volume of trades. All these figures can not be verified at this time. Only when these exchanges will be forced to work honestly and to bear responsibility only then we will see a true picture on the stock exchange

[zilzylian]

yes, I read the article:
source 1
source 2
fake trading volume, I think it exists and this situation will make a loss for crypto investors who are new to cryptocurrency, there are many false reports and even coingecko will take action for this fake volume.

[trauchot]

So in fact, most of the cryptocurrency exchanges wind up the volume and this is very bad of course, but we cannot do anything about it, so we just need not even think about it and do our own thing.

[HanZo04]

Yes, I heard that many exchanges faked their trading volumes for reasons of popularity and value. But I am very difficult to distinguish between the original and not.