Quote from: European Central Bank on January 09, 2019, 05:29:04 PM

yes. it's really getting out of hand now and places like coinmarketcap don't seem to care. ideally places like coinmarketcap wouldn't have the power they seem to have ended up with.

take a look at this market on exrates which is identical to most of their others. the buy orders amount to less than $20 in total yet trades worth way more are happening every few minutes.

i'd say that volume was 100% fake. if there was a buy or sell placed by a real person for starters that market is so thin you couldn't sell $1 worth without destroying it completely. second of all their bots will simply ignore it and carry on trading around it.

i can only guess they're hoping to fool real people into joining and gradually turning down their fakery, but exrates has incredibly high withdrawal fees so maybe pocketing that when people leave in disgust is their prime income.

it's the same with the zero fee chinese exchanges. places like BTCC would immediately go silent when their bot turned off. Okcoin employees said they operated bots.

if i were running coinmarketcap and any similar site i'd delist anywhere like this after observing for a few days. they're worthless.

Yeah, Exrates is another trash exchange with total bogus volume, Take a look at where they stand in volume on CMC for NEO, They claim to have 8.2% of the total volume in this case, There's no sign of known reputable exchanges in top 8

And the 3rd exchange in volume is Bit-z, I did use this exchange before, You can't possibly be a market maker there in most of their pairs

You can see how many orders going through without any of them being in the orderbook whatsoever, Heck their bots are faking more than 5k usdt trades in just 1 second, Look at the trades on 02:22:40