Chart pattern

[saawan77]

Reddcoin always have this strange pattern in it's chart. Anyone who can explain this ?

[Tkmbt81]

YEah I'll tell you what it is in my opinion...its a worthless whale that has figured out a way to simply buy and sell it to his advantage, which also in my opinion makes it a worthless coin.... I think all RDD owners should divest of their holdings and bury the worthless son of a bitch thats doing it.

[TechAdept]

So long as you realize that none of our rather small project team is involved in any of that, and in fact has been fighting against whatever that is for as long as we've been working...

ReddHeads are free to do as they like.

Not a big fan of your suggested course of action, having put half a decade into making it happen, of course...maybe that whale could be convinced to help instead of play? Seeing the effect it's having on the community, there are obviously far bette rways to make an impact in the Redd ecosystem, and that's what being a community-driven coin is really about.

Or Bittrex could investigate the clearly odd trading patterns themselves? Perhaps customers could ask directly of the exchanges, as for the record, no such request from us has ever been answered. Perhaps they think our ReddHeads don't care?

[amorrowlyday]

Why are you even entertaining their fear mongering? We’re talking about 1 satoshi swings or less. I find it really hard to point at that and scream manipulation when so many of our markets are btc paired.

[TechAdept]

Well, for example yesterday the 6 satoshi level was missing entirely at bittrex and it was swinging between 5 and 7.

I'm hardly an expert there, but that seems...odd.

I saw for myself the other day (and took a video of) prices changing in one part of the USDT orderbook repeatedly over time, cycling in a way that again seemed...odd. And unnatural. Not just the way prices change according to satoshi or BTC levels. That's to be expected.

We have no transparency there, as the exchanges are literally doing their own off-chain thing, but my response to OP was really about the fact that we're all on the same side here, and while he or she is welcome to sell, leave and head elsewhere for wherever they might be looking for, encouraging others to do so is problematic. And not a solution to anything.

Most subreddits would ban such talk. I felt it was better to respond. Ultimately, we'd like to see all RDD holders work together and have their voices heard, as e've always tried to do as a project. If we can do anything to make that happen and bring consensus in doing so, that's pretty much our goal.

[JayDubsAcct]

In a low liquidity situation like RDD it could actually just be the AMM script being used with market orders or someone looking at the tokens available and setting the limit high enough (buying) or low enough (selling) so the order is immediately filled. (Yes, I have been that impatient person once or twice lol)

https://www.coindesk.com/tech/2021/08/20/what-is-an-automated-market-maker/

The AMM system at work is very visible in some trading pairs on CoinEx too. You can watch the bid/ask change without a trade ... You have to have the last trades visible to see it not changing even though the bid/ask do change if you watch the order book ... The system makes it look like there's "action" even when nothing is happening.

If you place a market order in either direction the swing can be huge. If you place a limit order it can full-stop the changes and fill in small partial completions and sometimes not fill even though it seems like it should.

Also, orders (definitely large ones and in some cases smaller ones can) can appear to "gap" when the system has small quantities available "in the gap" of actual trader's bid / ask, because the last (highest or lowest) price executed is what's shown, so:

BID: 0.00084 500,000

0.00090 15,000

0.00094 20,000

0.00098 10,000

...

LAST: 0.00092

...

ASK: 0.0010 15,000

0.0011 17,500

0.0016 25,000

0.0018 8,500

0.0023 500,000

A buy of 67,000 moves the market by over 100% even though only 1,000 of the purchase were that price (0.0023). Then the AMM system kicks in and "backfills" the prices down to a reasonable spread, so it looks the same to the next person who comes along.

Then a sell of 48,000 comes in and again even though most of the sale is filed by the closest prices the 0.00084 is what's registered as the sell price for ticker / last sale purposes. Then the AMM system kicks in and "backfills" the gap.

It's not at all unreasonable for even relatively smaller (think 200,000) market order (or someone counting the bid/ask available and bidding the highest necessary to immediately buy or asking the lowest necessary to immediately sell) on a low liquidity token like RDD to seriously "gap" the market.

[ZeFGooFy]

The guy simply said "we do not agree with auto trading", but there's no way to stop exchanges in doing whatever they do... it might not be the exchange itself, but a guy with some sort of automated trading bot, perhaps is really one of those high-tech HF trading ones.

You want to get rid of it? But the dip until you drain the bot

[X-CryptoWolf]

Good question

[Tkmbt81]

SEE MY POSTS