Sometimes walls are far enough away from the market they are unlikely to be executed and may be attempts to influence the market. That might loosely be called a "fake" wall. Of course such orders still could be executed so the wall-maker-manipluator is putting real coins at risk putting such a wall up, at almost any price.
I think the difference between "real" and "fake" wall (or any limit order) lies in the placer's thinking:
- if he wishes the order to be fulfilled, the wall is "real"
- if he hopes that it will achieve some other purpose but not be fulfilled, it is fake
Both types of walls abound, and it is not immediately obvious which is which, and situations change rapidly, so that even the same order can at times be "real" and then "fake".
Every wall is precious, because they add to the liquidity. From the counterparty's perspective, it does not matter if the wall was "fake" or "real"
