Marktowin-项目投研家
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【One Image Flow】Regarding the authenticity of the trading volume of 7.4 billion in the WAL spot trading competition (resolved)
【Updated on October 27】
Someone posted a picture from customer service, and after careful consideration, it indeed makes sense.
74B billion is the total trading volume counted as both buy and sell. If calculated based on the candlestick chart's trading volume, it's the net trading volume. The actual trading volume of the event is counted as double; in extreme cases, without market makers buying and selling themselves, the actual trading volume should be 37B, and with market makers, an actual trading volume of 68B is also acceptable.
This post is kept for those who have doubts to see if this reasoning holds.
WAL spot trading competition was participated by Jige, and the data statistics show a trading volume of 7.4 billion USD, which doesn't make sense, so here are the doubts:
WAL has a total of 5 trading pairs, assuming the monthly trading volume is fully counted (converted to USDT):
①WAL/USDT, 6.744 billion
②WAL/USDC, 97.61 million
③WAL/FDUSD, 3.46 million
④WAL/BNB, 1939 BNB, converted USDT trading volume (BNB calculated at 1200):
1939x1200 = 2.32 million
⑤WAL/TRY, 669 million TRY, converted USDT trading chain (USDT/TRY calculated at 42):
669 million/42 = 15.93 million
Total trading volume (USDT) = 6.744 + 0.9761 + 0.0346 + 0.0232 + 0.0159 = 6.85 billion
The trading competition volume of 7.4 billion must either be a statistical error or the data is manipulated.
With data manipulation in trading, it is not uncommon for the competition to end with manipulated data on some secondary exchanges like Bitget, Bybit, and Gate, and everyone is well aware of it, becoming a laughingstock.
In the philosophy of Yijie, it cannot tolerate sand; even Binance, which is large and established, cannot engage in such lowly behavior of data manipulation. Jige believes it might still be a statistical caliber error or someone is deceiving.
Shall we recalculate?
@Yi He @币安Binance华语
【Updated on October 27】
Someone posted a picture from customer service, and after careful consideration, it indeed makes sense.
74B billion is the total trading volume counted as both buy and sell. If calculated based on the candlestick chart's trading volume, it's the net trading volume. The actual trading volume of the event is counted as double; in extreme cases, without market makers buying and selling themselves, the actual trading volume should be 37B, and with market makers, an actual trading volume of 68B is also acceptable.
This post is kept for those who have doubts to see if this reasoning holds.
WAL spot trading competition was participated by Jige, and the data statistics show a trading volume of 7.4 billion USD, which doesn't make sense, so here are the doubts:
WAL has a total of 5 trading pairs, assuming the monthly trading volume is fully counted (converted to USDT):
①WAL/USDT, 6.744 billion
②WAL/USDC, 97.61 million
③WAL/FDUSD, 3.46 million
④WAL/BNB, 1939 BNB, converted USDT trading volume (BNB calculated at 1200):
1939x1200 = 2.32 million
⑤WAL/TRY, 669 million TRY, converted USDT trading chain (USDT/TRY calculated at 42):
669 million/42 = 15.93 million
Total trading volume (USDT) = 6.744 + 0.9761 + 0.0346 + 0.0232 + 0.0159 = 6.85 billion
The trading competition volume of 7.4 billion must either be a statistical error or the data is manipulated.
With data manipulation in trading, it is not uncommon for the competition to end with manipulated data on some secondary exchanges like Bitget, Bybit, and Gate, and everyone is well aware of it, becoming a laughingstock.
In the philosophy of Yijie, it cannot tolerate sand; even Binance, which is large and established, cannot engage in such lowly behavior of data manipulation. Jige believes it might still be a statistical caliber error or someone is deceiving.
Shall we recalculate?
@Yi He @币安Binance华语
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