CoinMarketCap Continues Listing Exchanges With Fake Trading Volume

CoinMarketCap Continues Listing Exchanges With Fake Trading Volume
фото показано с : beincrypto.com

2019-11-22 00:34

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.

Let’s take Ethereum for example. At the time of writing, its trading volume is in the hundreds of millions of dollars on exchanges like LBank, Coineal, BitZ, CoinBene, and others. Besides the fact that close to no one uses these exchanges, they are proven to be fakes by CoinMarketCap’s own liquidity metric. The site launched its liquidity metric earlier this month.

For the ETH/USDT trading pair, LBank claims a volume of $279M on CoinMarketCap. Yet, right next to this, it reads that ‘real liquidity’ is around $115,184. That’s not just a small discrepancy—those two numbers are incomprehensible with each other. That means that 99.95% of all trading done on the ETH/USDT pair is completely fake on LBank. 

However, the absurdity doesn’t stop there. BitZ, for example, records a whopping $134M in trading volume on its ETH/USDT pair. Yet, its real liquidity is just $293. On BitZ’s other trading pair for ETH/BTC, its liquidity is just $74.

As WhalePanda (@WhalePanda) points out, these numbers just don’t make sense. While it is nice that CoinMarketCap added liquidity, why do they continue to include these fake trading numbers to begin with?

Been a while since I've used CMC. It's nice that they added "Liquidity"… but I still think they should remove some exchanges.
Be better @CoinMarketCap. pic.twitter.com/Rymj3XqClO

— WhalePanda (@WhalePanda) November 21, 2019

It’s clear that CoinMarketCap has something to lose by reporting the real trading volume. As BeInCrypto reported earlier this year, the verdict is clear on this question: over 95% of cryptocurrency trading volume is fake. However, CoinMarketCap is considered to be the most authoritative source on these metrics. So, by admitting fault the company may no longer be seen as such. Hence, they have kept a tight lip and just added this tiny ‘liquidity’ detail as an after-thought.

In keeping these exchanges listed, CoinMarketCap is doing a great disservice to the entire industry. Faking trading volume, and repackaging these metrics as legitimate, casts a dark shadow on the entire blockchain sector.

Now that we know the truth about trading volume, there is no excuse for CoinMarketCap to continue publishing these fake numbers. The ‘liquidity’ metric shouldn’t be relatively hidden on the site—instead, it should be reported as the actual trading volume.

Images are courtesy of Shutterstock, Twitter.

Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!

The post CoinMarketCap Continues Listing Exchanges With Fake Trading Volume appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Open Trading Network (OTN) на Currencies.ru

$ 0 (+0.67%)
Объем 24H $0
Изменеия 24h: 1.44 %, 7d: 12.76 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0221493 (-100%)

coinmarketcap trading exchanges volume continues listing fake

coinmarketcap trading → Результатов: 126


October Review – A Quantum of Solace from the East & Top Stories of the Month

Oct 1 Tether trumps Bitcoin for the monthly reported trading volume. Reported volumes compiled by CoinMarketCap showed that the controversial stablecoin, which is being sued by The New York Attorney General's office (NYAG), had the highest trading volume for the month of September, with roughly 18% higher volume than that of Bitcoin. Tether’s volume first […]

2019-11-11 09:13


Kraken clarifies its involvement with Crypto Capital after Molina Lee’s arrest

On 26 October, Bitcoin was on a roller coaster that only went up. The coin broke the $9000 market within hours, going on to briefly cross the $10,000 mark. According to CoinMarketCap, the king coin recorded a hike of over 20 percent over the past day and was trading at an aggregated value of $9218, […] The post Kraken clarifies its involvement with Crypto Capital after Molina Lee’s arrest appeared first on AMBCrypto.

2019-10-26 16:45


Trading Cryptocurrencies: Commonly Used Technical Indicators (Part 2)

Introduction This is the second of our 2-part series on technical indicators commonly used in trading cryptocurrencies. If you have not read our first article, click here for our first article which introduces Simple Moving Average, Relative Strength Index and […] The post Trading Cryptocurrencies: Commonly Used Technical Indicators (Part 2) appeared first on CoinMarketCap.

2019-9-11 19:44


Фото:

Will CoinMarketCap Ever Provide Accurate Crypto Data?

A recently published Forbes report found that CoinMarketCap continues to list exchanges that are known for providing fake crypto trading volume. Does this mean CoinMarketCap has given up on providing reliable data to investors? Fake Volume and Wash Trading Persist In early 2019 two separate research reports from Bitwise Asset Management and Alameda Research found that 65% to 95% of all reported cryptocurrency trading volume is manipulated or completely false.

2019-7-25 00:00


Аналитики: Bitcoin может упасть ниже $9000

Цена первой криптовалюты за прошедшие сутки упала ниже уровня $11000, снизившись почти на 6% (по данным CoinMarketCap). Но аналитики предупреждают, что откат биткоина может дойти до отметки $9000 и ниже.

2019-7-15 18:40


Фото:

Report: The Secrets Behind Crypto Exchange Wash Trading

FTX Global — a cryptocurrency trading firm, say they have uncovered the dirty tricks employed by certain crypto exchanges to inflate their trading volume. 68% of Cryptocurrency Trading Volume is Fake In a blog post published on its official Medium account, FTX provided details about new research into crypto wash trading carried out in conjunction with Alameda Research — a liquidity provider.

2019-7-3 22:24