Topic: [ANN][NFD][Supernet][UNITY] New NFD Asset: NFDSupeNet! - page 2. (Read 13287 times)

Nxt got whomped today down to ~5800 satoshis, which didn't make for a good day on Bter. Since Supernet's low ask and high bid declined slightly on the Nxt AE, its Bitcoin price got pushed down below 0.017 before it recovered on piddling bot-to-bot volume. The spread as I write this is much wider than it was 24 hours ago: the low ask and high bid are separated by almost 0.001 BTC. The regular bots don't seem to know what's coming next.

In the Nxt AE, UNITY's spread stayed narrow and the buybook is nice and thick in the low 280s. Most likely, those bidders are old Supernet hands who've seen this kind of thing before.

Trading was brisk, if a little light in each trade's volume, with transactions predominantly in the low 290s this morning (Eastern time.) When morning turned to afternoon, however, the price sagged as predominate Buys turned into predominant Sells. Fortunately, the last few hours brought out the Buys again. The last three trades went at the low ask, albeit on small volume.

Another day in the Supernet salt mines. If Nxt's spill is ignored, UNITY is still on an even keel.

In fact, the main inducer to me changing my orderpair for NFDSupeNet was Nxt. Because it sunk, I'm leaving the NFDSupeNet offer at 8500 NFD per unit and the buyback order at 8350. That's where they'll stay until I get rolling tomorrow.

Supernet quieted back down today at Bter where the price settled back to the low 0.0174s. The buybook there is thin at the top, but there's a huge buy order at 0.017001 and an even bigger order at 0.017. Including two smaller buy orders a little above both these biggies, about 13.25 BTC's worth of UNITY would have to be dumped at market to drive its price down below 0.017. Contariwise, only about 6 Bitcoin's worth of buys at the asks would ramp it up to 0.019. That's a pretty good orderbook, assuming it stays more-or-less the same.

Things are good in the Nxt AE too. That huge low ask at 294.75 was melted away by a nice number of buys, although UNITY did sink to 280 Nxt in early morning Eastern time and had to surmount a new lower ask before 294.75 finally vanished a little before 1 PM ET. It did have trouble getting above that level and was stopped at 296 as the Buys at the ask alternated with Sells at the bid. But both sides of the orderbook are higher than they were when I wrote the last report. 

As I write this, the low ask is 296 and it's got a moderate amount of volume attached to it. Unfortunately, there's a huge sellwall of close to 1000 UNITY between it and 300. As is usual, the buybook is thinner. The high bid is at 287.1.

But that doesn't matter as much as it seems to. UNITY has a habit of recurring whalepumps or buying frenzies that hit all of a sudden and tend to leave its price higher than beforehand when they abate and dumpers come in. The increased demand today did not seem much driven by arbitrage because Nxt itself gyrated along at a little above 6000 satoshs, but it could have been.

Those gyrations kept me busy on the NFD AE. As it stands now, and as it will stand until I get rolling tomorrow, my offer of NFDSupeNet is 8850 NFD per unit and my buyback bid is at 8675. That's a little better than yesterday's orderpair, and reflects Supernet creeping upwards again.

Glad to! There's no need to worry about me stopping because I've become kind-of addicted to writing them.

Next one's coming right up...

Just quickly, I want to say keep going with these daily updates Nxtblg. They are fantastic insight into why the markets are reacting a certain way without having to blow hours reading the multiple information pools/forums around.

It's very much appreciated.

Things were better for Supernet today as the recent buying frenzy on Bter managed to stick. Unlike that whalepump late last month, yesterday's buying pile-on didn't reverse that much. Despite there being a huuuge ----storm of dumping mid-morning Eastern time that pushed UNITY's price all the way down to 0.01644, Supernet managed to recover from the dumpstorm to climb back above 0.017 and even above 0.018 as I write this. Better yet, as Nxt AErs saw that the buying frenzy was not going to be a repeat of last month's whalepump, Supernet's price on the Nxt AE rose today too.

In fact, after drifting down to the high 270s mid-morning Eastern time, UNITY rose nicely. When it turned around, it fluctuated between the high bid and low ask but most of the trades were buys at the low ask. Some of them have been substantial. That demand is a blessing, as the low ask has more than 153 UNITY to go before it's exhausted. It was much larger several hours ago.

Unfortunately, the buybook is still thin volume-wise but so far that thinness has been a non-issue. Lots of buys at the ask have that effect.

As I write this, that low ask is set at 294.75 Nxt: a real improvement from yesterday's. The high bid, although small, is at 286.1. Accordingly, although diluted by Nxt's recent softness, I'm leaving both sides of the orderpair higher than they were yesterday. As I call it a later-than-usual night, I'm leaving the NFDSupeNet offer at 8800 NFD per unit and the buyback bid at 8650 NFD.   

Boy, did Supernet shake off its slump at Bter! Prompted by a spate of buying that pushed its price above 0.017 BTC, it leapt up in a buying frenzy that veteran Supernetters will recognize. Not only has it made a new all-time high in BTC term, but it also accomplished that feat on huge volume. Just have a look at this chart that covers UNITY trading since mid-October last year:


Oh yeah, that's nice.

But oddly, the same run-up has not been propagated to the Nxt AE. There, Supernet traded in the low 280s until the buybook was exhausted of bids above 280. As I write this, the latest trades came from small sellers who sold into the bid. The buybook is thick at the top, but its highest bid is below 275 Nxt.

Oh yeah, that's odd.

It's odd because Nxt itself had another blah day where it lumbered along at a little above 6000 satoshis. The Bter bidders seem to know this: the spread is fairly wide and the Bter buybook is pretty thin. Already, UNITY has come off its all-time high of 0.01885 and has slumped below 0.018. There's no arbitrage opportunity anymore: no gain from sending up some UNITY to Bter, dumping UNITY at Bter's high bid, converting the BTC to Nxt at Nxt's ask, withdrawing the Nxt and buying back the UNITY on the Nxt AE. The funny thing is, there were opportunities - but no-one seems to have taken advantage of them. Had they done so, Supernet's low ask would have risen noticeably. Today, it didn't. The only other alternative is arbitrageurs buying were met with dumpers selling - but that process does not square with the excitement at Bter. Price-wise, Bter roared while the Nxt AE yawned.

The best I can say is that a temporary buying frenzy was sparked off by people wanting to HODL, which made Supernet move too far, too fast. No wonder UNITY has slid down to 0.0179.

Given that I'm tracking the NFDSupeNet orderpair to the Nxt AE, the adjustments I made today weren't that substantial. As I call it a day, after adjusting for the widened spread due to higher bids being snapped up, I'm leaving the NFDSupeNet offer at 8700 NFD and the buyback bid at 8400 NFD.

In contradistinction to Bitcoin's bad day and Nxt's blah day, Supernet had a really good day. Over on Bter, the recent quiet at around 0.016 broke upwards as punters got the idea that Supernet's recent slide downwards was over. Late morning Eastern time, it actually poked its head above 0.017 when traders saw that 0.016 held against a dump intermission yesterday.

But the action on the Nxt AE was even more remarkable. Not only did the ask rise but also the bid book filled up! As a result, the Nxt AE spread is once again narrow. Today, from the standpoint of Eastern time, buys at the ask - albeit mostly small ones - predominated. Only yesterday, UNITY got as low as 246 Nxt: about 100 Nxt below its whalepump all-time high. Today, it got as high as 290. As I write this, the current bid is 286. The current ask is 289.69.

Today and yesterday hold a real lesson if you're a Nxt whale looking to get into Supernet. When Nxt itself takes off, arbitrageurs buy Supernet at Bter and then flock to the Nxt AE and dump. Here's a tactic worth considering: when Nxt takes off like the proverbial rocket again, keep your eye on it until the excitement gets you almost aching to buy more. Instead, open up the Nxt AE and see if Supernet has taken a dive in Nxt terms. If it has, place a lowballish bid for whatever Supernet you want to buy and wait for more AE dumping. If you price your bid right, you'll snap up a whole load of UNITY at a bargain price - just like one lucky Supernet near-whale who bought at least a couple of hundred of them from the high 250s to the 246 low.

It was calmer for me at the NFD AE, since NFD did not join Nxt in its recent rocket ride, but I did raise the orderpair in step with Supernet's recovery - the buyback bid more than the offer. As I call it another night, I'm leaving that NFDSupeNet offer at 8775 NFD per unit and the buyback bid at 8675 NFD.

The recovery of Supernet today was remarkable, indeed. Tomorrow will show if it holds....

As Nxt slid back after yesterday's rocket ride, Supernet on Bter wasn't long to follow. It got just below 0.017 BTC per UNITY before it arced down to 0.016. Today, the volume quieted down.

It was a different story on the Nxt AE. Remember that ~2'000 UNITY sell wall at 250 I mentioned yesterday? It was snapped up overnight, mainly by another whale who sold it at Bter. After being stuck at 250, and briefly falling a little below, Supernet then went up with Nxt going down as the price rose to 271 Nxt. Unfortunately, that jump in the early afternoon ET didn't last as the afternoon wore on: it reintroduced itself to 250. That's where it stayed until this evening when a couple of small buyers snapped up a little at the ask.

But, the bulk of the activity was arbitrage-related. The BTC price in Bter was a little slow to follow Nxt downwards, so some arbitrageurs helped it down. Even now, though, UNITY is still above its recent resting place at 0.015.

All through this, the Nxt AE buywall and sellwall were mostly stable price-wise. Probably due to Nxt's volatility, the normal spread traders were cautions and the spread stayed wide. The buywall was quick to regenerate in the low 250s and the low ask is currently above the day's high of ~271. As I write this, the high bid is 255.2 and the low ask is 273.79. With Nxt failing to hold 6250 satoshis, I offered a narrower spread in the NFD AE for my overnight hiatus. As I bring this day to a close, my offer is 8400 NFD per unity of NFDSupeNet and my buyback bid is 8000 NFD.

Despite James' resolute new Supernetx2 plan to forestall Supernet workers dumping their bounties into the current weak market, which I discussed in yesterday's post, Supernet continued to slump in Nxt terms in the Nxt AE. As I also indicated yesterday, the chief reason for UNITY's current weakness in terms of Nxt is limpid demand: the weakness is primarily on the buy side of the orderbook. And of course, that demand is out of his control. All he can do is to continue building the Supernet infrastructure and trust that people will eventually see its value. And all that we can do as investors is to hold and be patient while he and his team do their thing.

Supernet actually had a lousy day on the Nxt AE, this time with large dumpers joining the dump party, but for a happy reason. Nxt itself leapt up to the tune of 20% over the last 24 hours. As a result, the dumpers were primarily arbitrageurs who snapped up UNITY for BTC on Bter and dumped into the Nxt AE. As a result, UNITY plummeted down to about 250 Nxt on the AE but actually rose on strong volume to 0.0168 BTC on Bter. Those who bought around 0.015 yesterday and the day before are now sitting on a nice arbitrage profit - if they chose to take it. As the Nxt AE tumble today shows, a lot of them did.

As you may have already guessed, Supernet volume on the Nxt AE was huge as well. The lowering dump price meshes well with Nxt's skyrocketing price, suggesting that arbitrage was the cause this time 'round. That Nxt whale who set up that stepladder of bids I've been mentioning recently got all of his or her orders filled today.

Interestingly, one of the consequences of today's happy arbitrage day is a huge low ask of two thousand UNITY at exactly 250 Nxt. As I write this, thirteen of that 2000 has been bought so far. With that sellbook lodestone in place, Supernet is going to have a very tough time going above 250 unless that ask is moved upwards and/or withdrawn. If Nxt itself pulls back - it shows no sign of doing so as yet - the 250 logjam might well be removed.

In a way, the furious arbitraging is gloomy because it doesn't show a lot of confidence in Supernet as of now. But money is money, and adding liquidity plus keeping Nxt and BTC prices in tandem does have its place. 'Tis still the time to hold.

Because all that dumping mostly cancelled out Nxt's big gains, my orderpair for NFDSupeNet wandered all over the map today: first up, as the Nxt leap redominated, and then back down as the dumping gained the advantage. At the end of the day, Nxt still had the greater force: both my offer order and my buyback order are higher than yesterday's. As I call it a night, I'm leaving the NFD AE with a sell order for 8500 NFD per NFDSupeNet and a buyback order for 8400 NFD. Higher than yesterday, mid-range for the life of this thread.

'Til tomorrow, then.

There was an important new development in the Land of Supernet today, prompted by the same slump I've been commenting on recently. James announced a new offering, of Supernetx2, which will be backed by the funds allocated for the bonus he would have received had he met the market-cap goal agreed to by the Supernet community. Essentially, Supernetx2 - which will get double the revenue its 5% would otherwise entitle it to - is a bounty-fund Asset. It's not going to be distributed as a dividend, but will be awarded to freelance workers in exchange for work on the Supernet system.

He decided upon this new Asset because he noticed those dumps I myself have been pointing to. He decided, with more inside information that I'll ever be privy to , that the dumps were caused by some Supernet workers selling (some of) their awarded Supernet for Bitcoin - perhaps for living expenses. Supernetx2, as a separate Asset 100% backed by Supernet itself, will shunt aside the dumping pressure that's slumped the price of Supernet itself.

That decision was good of him, and it did have a small but positive effect on both the buybooks and the sellbooks. Over at Bter, both the low bot ask and the high bot bid rose to over 0.015 BTC: the volume was unusually low, but that quiet could be easily pegged to "Happy New Recovery Day" On the Nxt AE, both the low ask and - more importantly - the low bid rose: as I write this, the low ask is 290 Nxt and the high bid is 280.1. Unfortunately, it would take a dump of only nine UNITY to thump the buybook back to a low ask of 272.

Really, the price obstacle facing Supernet is limpid demand. That's just part of the altcoin bear market right now; it was nice to see James take a step to muffle the impact of those dumps. But of course, the low demand right now is completely out of his control. Times like these, when speculators' attention is directed elsewhere or nowhere, are made for buy-and-hold.

That said, the trading on the Nxt AE was encouraging this evening (Eastern time) after a previous slump to 272 early afternoon when the first UNITY trade was made. Three buyers wre willing to take nice stakes at the ask, which raised it and provided pressure for a couple of bidders to raise the top two bids above 280.

Both the bumps in both sides of the Nxt AE book and the slight rise in Nxt itself got me adjusting my orderpair for NFDSupeNet upwards. As I prepare to hit the hay and call the end to another day, my offer on the NFD AE is set at 8100 NFD per unit and by buyback order is placed at 7900 NFD.   

Supernet continued its downwards slog today. After holding up well at 0.015 BTC on Bter, two dumps of about 2 BTC's worth each in the evening Eastern time drove the price down to 0.01447. That latter dump was actually part of a bigger order, which was sapped up in two substantial buys at 0.0147 and 0.0146. Since Nxt itself was at about 5560 satoshis at that time, the low of that dump was at approximately 260 Nxt. Whomever was patient enough to buy the dumps got their UNITY at a slight discount relative to the Nxt AE.

Speaking of that, the low ask stayed fairly steady virtually all the time I was watching it but the high bid - after jumping almost up to the ask for a brief time - sagged last night to only a little above the overnight low. The bids that were taken out, were met with Sells which predominated in the morning Eastern time. That Nxt whale, who arranged that stepladder pattern of orders I mentioned two days ago, saw five rungs totalling 50 Supernet taken out by an early-morning dumper. Patience pays.

At least, hopefully it pays. When morning turned to afternoon, the predominance of Sells at the bid evened out to a mixture of Sells and Buys at the ask. But the wee hours of this day's morn (Eastern time) were rough for Supernet. Early-morning dumps in the Nxt AE and significantly larger early-evening dumps at Bter paint a picture of the marginal stalwarts losing heart.

Speaking of pictures, here's the one-month chart of UNITY from Nxtblocks:


It doesn't look that good. The whalepump on the night of December 19th, which pushed Supernet to an all-time Nxt high of 343, unfortunately made UNITY get ahead of itself. Hence the pullback, which was probably accentuated by some hot fad somewhere else.

It looks like the buyers are expecting more dumps overnight; as I write this, the high bid on the Nxt AE is only 273.1 even though the low ask is 287.4: it's sagged too, but more slowly. Since I expect the buybook to regenerate again, I'm leaving the order pair for NFDSupeNet in the NFD AE where I set it this afternoon: 1000 offered at 7900 NFD per unit with a buyback order for 3010 at 7750 NFD.

Happy New (calendar) Year, everyone! I'll be back tomorrow night as usual.

Although Supernet volume picked up on Bter today, the price still seems to want to sag there - but not on the Nxt AE. UNITY still pokes its head above 0.015 BTC, but it doesn't stay there long. There was a spate of hasty buying around 4:30 PM today Eastern time, but it was more than counterbalanced by a big dump of more than 2.5 BTC's worth that drove the price down to 0.0135 BTC - where there's a very big lowball bid. The Bter bots took notice and adjusted the prices of their orders downwards.

Contrariwise, Supernet's price in the Nxt AE didn't do all that much today. The low ask is virtually the same as yesterday's; the high bid is a little higher. Most of the trades today were at the ask, although they were unusually small. The largest trade of the day - a buy at the ask - was 18 units of Supernet; the rest were all single-digit in volume. Some of them might have been arbitrage bot plays: the high bid on the Nxt AE is the BTC equivalent of ~0.0157. If bots were responsible, they would have been selling into the bid. Some of those small orders did do so; some didn't.

It's a quiet market as New Year's Eve approaches, so 't'ould be the season...

Despite that calm, I was still kept hopping on the NFD AE because of Nxt's recovery today. As I call it yet another night, my offer for NFDSupeNet is staying the night at 8000 NFD per unit and my buyback is sticking with 7900 NFD per.   

As I anticipated last night, the bid stack for Supernet did regenerate - although a large part of the regeneration came from a single buyer offering now to pick up 10 Supernet at every whole-number price from 266 to 282 plus another buy order for another 10 at 265.1. Talk about a long ladder...

What's interesting about this bidder, in addition to the 18-step ladder of bids, is that he or she is a real Nxt whale. The Nxt balance of his or her account is over 1'000'000 of 'em - and it seems to be a personal account. This person isn't much for Assets, but (s)he already has more than 550 Supernet - some of which was bought in the wee hours of the early morning Eastern time. Quite the bargain-sniffer looking for a dump.

Over at Bter, UNITY's price still coiled around 0.015 BTC on low-moderate volume until some big buys and dumps came in late afternoon ET. The tug-of-war ended with the price only barely above 0.015.

On the Nxt AE, there were a lot of moderate-sized trades - including the now-gone top steps of the stepladder that had gone all the way to 292; the same person bought 150 at that same 292 before setting up his or her stepladder. Price-wise, the trades started off in the low 290s, drifted down to the low 280s and then snapped back up to the low 290s as several small buyers hit the ask. But they weren't enough to whittle away the sellbook to get the low ask where it was as of last night. But interestingly enough, Nxt itself climbed enough today to make tonight's high bid close to parity with yesterday's in Bitcoin terms.

As I write this, the low ask is at 295.131 with less than 11 UNITY to go before 297.43. The high bid is 10 at 285; the buywall isn't that thick, but it has mostly regenerated. In accordance with these figures, and in accordance with that nice bounce of NXT, I'm ending the day with the offer of NFDSupeNet at 7700 NFD again and the buyback offer raised to 7500 NFD.   

With Nxt mostly listless albeit in an upwardly direction, and NFD still stable, the adjustments of my offer and buyback orders for NFDSupeNet were prompted by the dances of the low ask and high bid of Supernet itself. What happened today was not encouraging, although there's little reason to despair.

It's a bit of an odd market, actually. A widening of an Asset's spread means an increasing divergence of opinion as to its fair value, or else changing priorities by the order-makers or arbitrage maneuvers. Frankly, I think it's the last that widened the UNITY spread so much today and the second-last that's keeping the bid low. The volume at Bter picked up to 10 BTC, and the range of fluctuations widened mostly to the downside: today's action was like a coil that centered around 0.015 BTC per unit. Early morning Easter time, UNITY was knocked down to 0.01245 by a big dump totalling more than 2 BTC's worth. It took its time recovering, although only a small buy was enough to push it back to a little below 0.015. But there it stayed until a much bigger buy or set of buys totalling almost 2 BTC's worth kicked in just before noon ET. That buy pressure was enough to push it above 0.015 even though it sunk back down to ~0.015 mid-afternoon.

Trading was also brisk on the Nxt AE, but sells predominated in the afternoon Eastern time. There were enough sells to take a big bite out of the bid stack, particularly from one account who (I'm guessing) was the lucky buyer of the Bter dump. That drive-down is explainable as an arbitrage maneuver.

But, except for a hopeful buyer of only one unit, the sells after that big dumper at the price reached at the end of his dump: well below 280. The bid stack has not regenerated as yet. On the ask side, the sellers are still holding firm: the low ask at the time of this writing was 297. But the high bid was only one unit at 265, with the next highest at 263. That bite out of the buybook has not healed yet.

As for why, I think it's because of differing priorities. People who trade in the Nxt AE are focussing their attention elsewhere. If you yourself would like to place a lowball bid for Supernet, this would be the time to do it.

Since I pledged to passively follow the Nxt AE orderbook, I widened the spread for NFDSupeNet as well. This night, I'm calling it a day with an offer at 7700 NFD per unit and the buyback bid at an unusually low 6900 NFD. The spread will probably narrow tomorrow.

The slideback of Nxt continued today: it bottomed at below 5100 satoshis before picking up a little. That pullback from its recent high of >5500 satoshis, plus the cooling-down of the Supernet market on Bter, meant that my order-pair adjustments for NFDSupeNet were mostly downwards today.

In the Nxt AE, trades started slow volume-wise but picked up to a nice clip as of mid-afternoon Eastern time. Unfortunately, this pick-up was caused by a bit of dumping that dragged UNITY's price down to 290 Nxt. A later bounceback only brought it to the high 290s: 300 is now out of reach. Bter saw a similar slump, down to 0.0154 BTC, but on very low volume. The double whammy of Supernet slumping and Nxt sliding did not call forth any appreciable dumps on Bter.

In fact, the tiny volume on Bter is a good sign because it says that Supernetters with UNITY in Bter are holding on to what they've got. There was some dumping on the Nxt AE, but not all that much. So, even though the high bid is only 285 Nxt, the low ask has settled in at 298.99. A wide spread, but both near-to-market orders are really big. It looks like we have a stand-off right now. The good news is, Supernetters are not losing heart: even today's dumps in the Nxt AE were small.

Because of that double whammy, the bulk of my adjustments of my offer and buyback orders in the NFD AE were mostly downwards. As I put this day to rest, my offer of NFDSupeNet is at 7600 NFD and my buyback stands at 7350 NFD. Not that good a spread, but it's a little better than the Nxt AEs. It's enough to get me through snoozing time.

Both Nxt and Supernet calmed down at Bter, volume-wise, and Nxt kept slumping back. Contrariwise, the trading of Supernet on the Nxt AE was brisk with the price little changed. But this time, the bulk of the trades were at almost exactly 300 NXT: the highest buy was exactly 305. As a result, the low ask settled in at a little above 305 and the high bid stayed stuck at 300. Sellers are getting used to the lower but more-or-less stable range: the sell wall at 305 & fractionals is a lot thicker than it was yesterday. Contrariwise, it would take a dump of only 11 UNITY to push the high bid back to 295ish.

Accordingly the changes in the bid and ask for NFDSupeNet were mostly lowerings on both sides of the book - but the main cause was the softness in Nxt. Since the spread is narrow in the Nxt AE, the spread for NFDSupeNet is also narrow: 8200 NFD ask, 8025 NFD bid. There it stands until tomorrow morning.

Supernet had another brisk day at Bter, highlighted by a huge buy (or set of buys) very early Christmas morn Eastern time. Although the buy or set of 'em comprised over 12 Bitcoins, it did nothing for the price. About two and a half hours later, more than 5 Bitcoins' worth were dumped but the resultant dive in the price was temporary. Overall, it slid down a bit to ~0.0155 BTC per Unity.

Over in the Nxt AE, the price also slid down but that slump took longer. For a time, the spread was quite wide: 325 Nxt bid, 300 Nxt asked. Except for an outlier trade, though, most of the trades today went at little more than 300 Nxt. Those that were buys into the low ask didn't happen until the ask sunk to 307 or below. There were two large sells at the bid @ ~300 Nxt, most likely from the lucky lowballers who snapped up the >5 BTC's worth of UNITY that was dumped on Bter after moving them to the Nxt AE for a nice arbitrage profit. Nxt itself calmed down, settling into its usual volume and at a little below 5500 satoshis. Yesterday's Nxt run largely stuck, but it also came to a definite end.

Since it was Christmas, my changes of my offer and buyback orders in the NFD AE were relatively sparse compared to yesterday. Unfortunately, the net selling pressure finally exhausted the bids at 300 and the high bid sunk to 295.101. The asks have caught up with the slump somewhat: the low in this side of the orderbook was 304.9 albeit on a small order; there are no big asks below 325. Nevertheless, I adjusted my offer of 1000 NFDSupeNet [equivalent to 10 UNITY] to the low ask as pledged and my buyback bid accordingly too. As I knock off for the night, my offer stands at 8300 NFD per unit and my buyback stands at 8100 NFD.

It's an odd, churny market in Supernet right now...we'll see what Boxing Day brings. I hope y'all had a Merry Christmas!     

This first full day had me jumping for two reasons: the low ask and high bid of Supernet oscillated all over the place and Nxt itself took a flying leap to over 5500 satoshis. This was one of the few days when you could see Nxt at the top of Bter's most-active list instead of Dogecoin.

Trades were brisk too, but the price range was narrower than the dance of the low asks: except for one outlier trade of only one unit of UNITY, its price fluctuated between < 300 - 310 NXT - and most of the trades were at the bottom of that range. This range-bound behavior was mirrored at Bter, where trade was brisk last night & this morning but was confined to a range centered around 0.016 BTC. A large buy drove it up late morning (Eastern time) but that bump was largely cancelled out price-wise by a large sell in the early afternoon.

After a lot of my floundering around cancelling and re-ordering in the NFD Asset Exchange, both Nxt and the Supernet range settled down. Oddly, the spread for Supernet in the Nxt exchange is quite wide now: 301 bid, 324.78 ask. I settled down myself, putting in my offer of NFDSupeNet at 8990 NFD and by buyback bid at 8500 NFD. On a percentage basis, my own spread is narrower than the spread on the Nxt Exchange - but please don't tell anyone.

Merry Christmas to all, and to all a good night - or morning if you're in that part of the world.

 

Oh yes, and getting more active. Latest NFD news here: https://bitcointalk.org/index.php?topic=603932.2540;topicseen

And while I'm on the subject: the Supernet high bid and low ask changed a little while I was proofreading; so did the price of Nxt itself. So, as per the formula in the OP, my offer on the NFD AE is 8100 NFD per NFDSupeNet and my buyback is 7933 NFD per unit. My offer and buyback bids are both for 1000 units of NFDSupeNet.

And I have a feeling I'll be changing the prices for both of 'em soon. Supernet's the most active Asset on the Nxt AE, so I'll have a lot of action to keep up with.

Hunh? I went out of my way to show how everyone to inspect it. Gawd, I practically decorated the post with block explorer and AE links...