Since Cobinhood gave up their wash-trading attempts, this is the real SVD-trading-volume on there:
A short "market-report", because some interesting things are happening.
1) Volume Who checks the volume on Coinmarketcap finds out that it is very low. Right now only about 6.400 EUR. But, who looks at the markets to see the numbers per exchange will see this:
https://i.imgur.com/pdgkCTn.pngThe volume on Cobinhood is excluded because Cobinhood charges no fees. But the volume is not just higher than on other exchanges, it is 5700% of HitBTC.
Most interesting question is: Can that be real volume? I mean, one could say: Since trading is for free people simply trade much more.
Why I don't believe that: The other exchanges show that not many are interested in Savedroid. I know Shitcoins from 2014 which have a higher volume. And the orderbook shows: On the BTC pair only 25 M SVD are on the buyside. On the ETH pair: 30 M SVD. Even if all of that would be at the current price level that would only be about 35000 EUR. But most of it is much much lower (15 Million SVD below 3 SAT on the BTC pair for example).
So, where does the volume come from? My bet: It's wash trading, done by bots. Maybe it's the exchange that trades SVD they got from Savedroid to list the token back and forth or it is another entity.
What is Wash trading?
A wash trade is a form of market manipulation in which an investor simultaneously sells and buys the same financial instruments to create misleading, artificial activity in the marketplace.[1] First, an investor will place a sell order, then place a buy order to buy from himself, or vice versa. This may be done for a number of reasons:
To artificially increase trading volume, giving the impression that the instrument is more in demand than it actually is.[2]
(...) https://en.wikipedia.org/wiki/Wash_tradeIt's not unusual in Crypto. Even Bitfinex is accused to do it with Tether (Bitfinex and Tether are owned by the same ppl). But it's misleading of course and actually not legal.
(...)
