On-chain data insights reveal fake transactions

Author: Wazz Source: X, @WazzCrypto Translation: Shan Oppa, Golden Finance

The reality is that there is a lot of fake volume, manipulated indicators, and fake transactions on all chains.

More than 80% of the transaction volume/number of transactions/number of wallets are fake and come from quantitative trading robots, bait projects, bundled releases, etc. Actual on-chain activity has not increased significantly over the past 3-4 years.

Daily active addresses, daily transaction volume, and transaction volume are all fake. Look at this $SOL, top of the list for number of transactions. There are 300,000 transactions a day, but the transaction volume is only 500,000. If you check the transaction history, they are all fake.

None of them are real transactions, it's all just a bunch of bots sending thousands of transactions back and forth.  

Look at this Base again, the number of transactions tops the list. 200,000 transactions, transaction volume is only 44,000, same situation. None of them are real transactions.  

Look at BSC's statistics on dexscreener, which says there is a trading volume of US$5 billion, but it is all false. The top 3 tokens are all fake/manipulated by exotic currency pairs, and the real on-chain transaction volume is probably $300 million.  

Look at Solana’s top trading list. The top 10 are all fake wash scams. There are at least 2-3 million fake transactions for these 10 coins alone.  

Any ordinary scammer would bundle 100 new wallets when a new project is released, use quantitative trading bots to push the trading volume to $50 million, one token 200,000 trades, 100 of these releases every day, 20-30 different teams doing the same thing every day.

Everything is fake. This is the most pessimistic thing about this cycle.