actually this was the trade volume last month... and wats washtrading? i think much of the daily trade was also bots buying SBD using the steem trade function, selling it for bitcoin on bittrex, selling it for steem from bittrex back to their account and then cycling over and over again. this was profitable, and this kind of algorythmic trading increased liquidity and synced the steem price on the platform with the steem price on other platforms...
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Wash Trading is when you have bots on an Exchange buying and selling to each other all day long, so that the volume stays high. Almost every exchange does it... and Binance even charges a fee from the projects to keep that sorcery going. 😁
Then traders will look at a volume and will go after it... without even knowing all that volume is being faked!
u mean multiple bots and multiple accounts that only sell to each other? this though is not a centralized exchange though... the trade orders are posted in the blockchain with an expirary date for that trade order. there is no exchange that can suddenly go offline and people loose their money because its there aslong as there is a blockchain XD... and all bots trading on this exchange belong to actual people wanting to make a profit XDDD
"u mean multiple bots and multiple accounts that only sell to each other?"
Yep, all the big exchanges do that, to provide liquidity to the market! 🤣
I call it ... a fake market.
oh wow 700$ 24h market volume... but half of it was me XDDDDD
also wats up with people destroying large amounts of money hourly for basically nothing?
actually it appears these are all bugs as they dont appear in the new web wallet market
https://wallet.hive.blog/market