I AM NOT FUCKING LARPING....I JUST FOUND THIS SHIT OUT ABOUT CHAINLINK...SOMEONE TELL ME WHY THIS IS HAPPENING???
Okay dudes, so I was looking at the order flow on chainlink and I found out why the FUCK the volume has been so high recently...There's someone setting up a BOT who is selling to himself...I repeat...This guy is selling chainlink to himself. I don't know why, other than trying to get some commison??
How do I know it's a bot selling to itself? Because whenever the orders go up for like 4 or 5k chainlinks I will instantly put in an order for like 10k chain links .000001 satoshi higher than him. And then immediately the order is taken off...So I then instantly take mine off. And the bot then puts in the same order at the same price, so I instantly one up his order and the bot will take it off AGAIN.
But if I do this enough I start to notice the bid order gets bigger and bigger and bigger. First was 2k chain links and if I do this 5 or 6 times it becomes 10k chain links...
Then when I finally let it go or the robot realizes i'm doing this, he will put it one higher than me and instantly sell to himself...
So it's some dude that programmed a bot to sell to himself...two different wallets, two different accounts.... however it's the same man with this weird plan...
i'm not larping and this is actually true...try it yourselves...
The order flow is clearly a robot selling to itself...
So what does this mean though??? is this bad or good??? I'm kinda confused why anyone would do this??? any insight would be greatly appreciated...
Are you asking why somebody might possibly want to manipulate markets?
Cameron Powell
I don't know how this is manipulation though....he's literally selling tens of thousands of chain links to himself every minute or so...
This shit is really weird....
Jordan Cooper
He's just keeping it comfy at .00005050 stats and continuously selling to himself...No one can buy or sell unless they buy or sell to the other orders around him
Leo Torres
Wow dude it's almost like exchanges run their own bots
Jayden Bailey
He is (or more likely many he's are) giving people the impression that there's volume when there isn't. People attribute volume to the price potentially going up.
Asher Stewart
This right here makes sense actually...well then fuck that guy... \
we should keep fucking with his robot and make him move the price up more
Ethan Gutierrez
bbb bu but this chart says that $1000 EOY is impossible.
Bentley Kelly
Well we know tons of link has been moved to binance from various top wallets, some linked to dev wallets.
What if someone is using binance as an exhange to trade otc to avoid leaving a trail that speculators will find? They could agree to trade directly without raising the market price via bots
James Ward
This is also possible, in this case we should just see a pump and dump as usual.
Blake Parker
I cant believe that these posts are written by real people. Binance has damn own bots who create volume on every pair Is this trolling or are you actually that dumb?
Jeremiah Parker
Then why would they be constantly selling to themselves with higher than normal volume?? HMMMMMMM???
ANSWER ME THIS NORMAL NORMAN....Yes, every fucking exchange has bots that trade to themselves...it's called being a market maker you fucking nitwit...
But this is different...this is huge volume
Easton Ross
Op, you're onto something here...someone is trying to show volume for whatever reason...It may be for commison, but more than likely there is some underlying motive behind it that we don't know yet...
I don't think this is necessarily a bad thing...But we will have to wait and see..
Jason Morris
Maybe the exchanges are doing it to mask the fact that volume has dropped off drastically. If people knew this it would have a self-reinforcing result and volume would taper off more as people realize the market is essentially dead.
Lucas Fisher
>I just discovered Wash Trading
Good instincts OP, the thing is that they do this to manipulate the price (this may even be binance selling to themselves) at only the cost of fees.
Towards which end the whales/binance manipulate the price, we can't really know. Maybe it's the smartcontract.com team selling bulk LINK to institutions on the down low, which would explain a lot of things including the no communication/no marketing aspect of the project.
I noticed this too, volume is up like 5X from the pre-conference pump and dump, and like 10X from the week before that. Price was a dead flat line for a day, and is just now being allowed to rise, with a massive sell wall in place though. I'm guessing accumulation, but it seems like overkill.
except they let a ton of coins dry up. arks at like 40btc req at 50
Ryan Ortiz
I’m pretty sure the team is going to be releasing some big news soon. This could be related to that.
Also I’m pretty sure those sell walls are just there to try to suppress the price or make it seem like there’s a lot of sell interest
Adam Turner
Im suspecting it's just wash trading too.
Dylan Wilson
the bot doesn't have to be actually selling to itself so its technically not a wash trade necessarily and not illegal
its probably just a mass of arbitrage bots running from bitmex->binance->bitfinix and back again. Exchanges do this to provide liquidity to make trading less shitty for their users by matching them with trades on other sites through a long chain of basically futures and so they get fees and you get relatively similar prices across all exchanges with not too much slippage.
if you actually drive the price up a significant amount on any one exchange they will definitely dump on you
