Lesson 02 · Unit 9 · RingScore
Volume worth believing
You know wash trading from the faker's side. From the reader's side, the audit is three ratios: volume against liquidity (on Solana a real market can turn its pool over many times a day, so only an extreme ratio means anything on its own), volume against unique traders (a thousand tiny trades from six wallets is a printer), and buys against sells (organic flow is never a perfect 50/50 metronome). The ratio that indicts a token is high turnover together with a flat price and a handful of wallets — any one of the three alone is weak evidence.
DTS — Depth, Traders, Symmetry
Depth: does volume dwarf the pool? Many times over is normal on Solana; tens of times over, with a flat price, is not
Traders: is the volume made by many wallets, or six in a loop?
Symmetry: perfectly alternating equal buys and sells is a metronome, not a market
Two tokens, same $500K daily volume
Token A traders: 2,400 unique wallets
Token A vol/liq: 1.6× the pool
Token B traders: 9 wallets, round-tripping
Token B vol/liq: 62× the pool
Why fakers accept being obvious
These ratios are public — washing can't hide from them. It persists because it only needs victims who look at the headline number and stop. Ten seconds of DTS is the entire countermeasure.
Where this goes next
The manufactured kind has a name and a shape, and the sites you read volume on show both.