> For the complete documentation index, see [llms.txt](https://docs.kaiko.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.kaiko.com/getting-started/kaiko-examples/identify-wash-trading-and-volume-quality.md).

# Identify wash trading and volume quality

Evaluate an asset's volume-to-liquidity ratio. If the USD volume substantially exceeds the depth of the order books (a high volume-to-depth ratio), it suggests that the genuine market demand isn't accurately represented by the current trading volume, hinting at possible wash trading.

<figure><img src="https://lh7-eu.googleusercontent.com/docsz/AD_4nXeJdFwMMCK50roqhpGx0rzDsqa0VQVgpVsd5y_MKPrC0tYD6qkFqrJO4qAIQh1rkA0iWFCTO3QBKnx9qk-neFtf4HiZ6jrtYtcl64kY7ahG4WOm3r4f2qk3M_GSc7v-qk85k180WQxqFpI106yAWaUnpaqn?key=yKeDMZ63ctoLut6nyqnEtA" alt=""><figcaption></figcaption></figure>

The liquidity-volume-ratio is significantly higher on Bitforex.

### <mark style="color:blue;">How to build the request</mark>

With the Market Metrics **Asset endpoint,** you can use the following parameters to source the specific information you're looking for:

| Parameter   | Value                    |
| ----------- | ------------------------ |
| asset       | ltc                      |
| start\_time | 2023-12-28T00:00:00.000  |
| end\_time   | 2024-01-28T00:00:00.000Z |
| interval    | 1d                       |
| sources     | true                     |

You can find specific asset codes from our [instruments explorer](https://instruments.kaiko.com/#/instruments) or [reference data](https://docs.kaiko.com/#assets).

Here's an example of an HTTP string request using the values above:

<https://us.market-api.kaiko.io/v2/data/analytics.v2/asset_metrics?start_time=2023-12-28T00:00:00.000Z&end_time=2024-01-28T00:00:00.000Z&asset=ltc&sources=true&interval=1d>

When you receive your response, search for the following fields to find the data you need:

* total\_off\_chain\_volume\_usd
* buy\_market\_depths - bid\_volume\_1
* sell\_market\_depths - ask\_volume\_1


---

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