CoinMarketCap also questioned exchange volume data fraud?
8 months of this year, there have been some encryption currency enthusiasts questioned CoinMarketCap data fraud user guide.
In December 13th, the blockchain transparency research institutions (Blockchain Transparency Institute, hereinafter referred to as BTI) released the report pointed out that the total volume of the recent CoinMarketCap trading volume ranked top 25 in exchange for $2 billion 500 million, while the actual turnover of only $324 million, than the CoinMarketCap data released less than 87%.
While the United States head exchange Coinbase did not even enter the CoinMarketCap top 25, the other reason is the exchange amount of brush rampant. As of press time, the trading volume of Coinbase in the CoinMarketCap rankings for the 34.
Chain tower think-tank partner Li Songwei told Odaily reporter for the daily planet, outsiders can not get the basic exchange trading volume of real data, unless find insiders, and most of the data are available to monitor website has made water data exchange.
The trading volume of fraud, to lure investors high disk
BTI said that after their investigation and analysis for 3 months, found 4 exchange machine brush common mode, some of the robot according to the different time of day to set a different transaction, set will change according to the current trend of flow or for the time period given token speculation.
BTI to calculate the real trading volume in the top 25 CoinMarketCap transactions on the BTC, they reported to the CoinMarketCap trading volume of less than 1% for most of the trading of real trading volume, in the top 25 in the exchange, only two (currency and Bitfinex) exchange not forged trading volume.
Before the BTI report found that the OKEx trading volume on the top 30 currency currency are the amount of brush, and OKEx looks like from the recommended CoinMarketCap traffic benefit a lot.
At the beginning of November this year, a man named Sylvian foreign authors to publish the article in the Medium, he draws a conclusion through the analysis of public data, he believes that the current global trading volume of the first OKEX exchange trading volume are false behavior, “93% of the transaction amount for false trading”.
In addition to OKEX, the article also pointed out that “through the analysis of the data Chinese virtual currency exchange currency, currency security, fire Lbank and so there is a volume of fraud, number of false transactions accounted for 70%~90%.
In so many fake exchanges, the most serious is OKEX. It is currently in CoinMarketCap and LiveCoinWatch in the two sites, with a total of 4 billion dollars turnover number four.
From the fire currency trading volume of the top 25 currency observation point of view, there is the amount of brush behavior, but the amount of brush degree of OKEx is not serious, the highest amount of Bithumb on the currency brush are respectively Monero, Dash, Bitcoin, Gold and ZCash, and the monthly data will continue to change.
According to sylvian survey, and Wright currency bitcoin has completed in one or more of the alleged fraud in the exchange trading volume of up to 75%, only in the home OKEX trading volume accounted for more than two of the total 30% kinds of encryption currency.
By showing the high volume of transactions, for traders, these crypto currencies look more attractive, because they seem to have gained more attention than the actual.
And through continuous trading false write offs, may make people generally overestimate the value of the currency of encryption. Obviously, this is the approach to deceive consumers, and in high disk.
High transaction volume next month were 60 thousand RMB market management fees
Behind the exchange trading volume of fraud is the huge market value in the market management team.
A non Name market management team told Odaily Daily Planet reporter, according to the coin circle is usually the demand point of view, a complete set of value management scheme, which contains at least the following three parts:
1, provide a beautiful volume.
2, provide the market depth enough to undertake the market of large capital operation, namely the market maker.
3, maintain a relatively stable currency price.
First, provide a beautiful volume, trading volume is also mentioned in the fraud, this is the most simple exchange market management in one step, write a robot, you can automatically brush. This is the best procedure operation, manual operation trace is too obvious, and it is difficult to achieve a smooth and stable turnover.
Second, need disk access funds. If it is also all listed in other trading currencies, relatively easy to do, can be anchored in the hedge price real time exchange, in principle, will take a risk.
If the line is only in a currency exchange, the market maker will also assume greater risks, this is the need to have a general understanding of the market. The amount of capital required will Jiaotong university.
Third, to maintain the currency price stability, mainly deal with the risk of the bear market decline, need capital to offer greater need, at the same time, the media publicity, community guide and so on synchronous execution.
More than three service, the two is the most easy. Can replace the manual operation with the program.
Third services, requires close cooperation with the project, known as the market on the distribution of chips, as well as the project moves, currency release rules need to be familiar with the insider, with the traditional stock market Zuozhuang was somewhat similar.
This helps the exchange market value management sources, they make their own research and development of robot automatic knock, handicap Guadan, hedging and so on, 24 hours of artificial auxiliary monitoring.
At present, has helped four exchange market, including currency exchange BQEX digital assets, and disclose their current to BQEX day turnover of about more than 30 thousand BTC.
When asked about the market value of management fees, Odaily Daily Planet reporter learned that their one month service offer for 60 thousand yuan or the equivalent of USDT, and joked “in BTC stumble endlessly situation, also can only accept coins prices relatively stable USDT”.
Moreover, the currency market earnings management team, the proportion accounted for 70%, exchange square profit income, accounting for 30% of earnings value management team.
According to the Odaily Daily Planet reporter statistics, the market value of the management team in a bull year service fee for a minimum of 2 million RMB, the service cycle on an annual basis, generally each for 1 years.
From the management of currency market chaos
In the stock market, the market value management means:
The company established a long-term organizational mechanism, the effect on the pursuit of maximizing the value of the company, to create value for shareholders, and maintain accurate and timely information exchange conduction and capital market through, remain relatively dynamic equilibrium relationship between the related parties. Try to achieve the company’s stock price to serve the company’s overall strategic target in the company within the scope of.
The management of the market value of listed companies is the market value of the company based on the signal, the integrated use of a variety of scientific and standard value management ways and means, a strategic management behavior so as to achieve the maximization of value creation and value realization optimization. The value creation is the basis of market value management, value management is the key to realize the market value management, value is the market value of the management goal. (from Baidu Encyclopedia)
For the 30 years history of the development of the stock market Chinese, has formed a set of specific market management standards, to distinguish the market value management and price manipulation has a clear conclusion.
As for the infant digital currency market, the money market management standard, there is no clear conclusion. So there will be so many makers cut chives, exchange warehouse explosion incident.
At present, many domestic understanding of currency management is can make the dish on the market there are also many in the industry do disk. According to an insider, the industry generally believe that the program trading trading platform trading volume accounted for 80%. China 3 bitcoin exchange, OKCoin is expected to have 60% traders trading is automatically executed, fire currency net and bitcoin Chinese also this figure will be estimated to be 80%.
From these data we can see, different from the stock market management, market management, currency situation is chaotic. A lot of people in the capital and superstition trader strength, the industry recognized the value of the currency will have a negative impact.