Topic: Can someone explain this to me? (Read 343 times)
Alright thanks for the explenations!
Looks like price manipulation, then the coin basically died with almost no volume.
you will always have to keep an eye for everything, not only value, but volume and where it happened...
could easily have been a buying mistake or a pump purchase to jack up the price...
could easily have been a buying mistake or a pump purchase to jack up the price...
what coinmarketcap.com reports is what they get from exchanges. there are two possibilities here:
1. there was a bug where the exchange API stored a wrong trade history and gave it to coinmarketcap which they stored as well. and now you see it like that.
2. when coins are listed for the first time on an exchange, people who place the first sell orders can place it anywhere they like. it is an empty orderbook! you can place it at 1 trillion dollar for 1 unit of your coin! and if someone buys $0.01 worth of it, the system saves a history and stores the open price as 1 trillion dollar.
that is probably what happened here. someone placed the first order at 0.29BTC and another (or maybe even himself) bought 0.00001BTC worth and set that point there.
1. there was a bug where the exchange API stored a wrong trade history and gave it to coinmarketcap which they stored as well. and now you see it like that.
2. when coins are listed for the first time on an exchange, people who place the first sell orders can place it anywhere they like. it is an empty orderbook! you can place it at 1 trillion dollar for 1 unit of your coin! and if someone buys $0.01 worth of it, the system saves a history and stores the open price as 1 trillion dollar.
that is probably what happened here. someone placed the first order at 0.29BTC and another (or maybe even himself) bought 0.00001BTC worth and set that point there.
https://i.imgur.com/CwwxyVS.png
https://i.imgur.com/o0PW8mQ.png
Electra gone from aprox 800 usd to 0.000015 usd in 3 months - also it went from 20 USD to 830 USD in 1 day on the 10th of july to the 11th of july about 2-3 weeks later it died.
Anyone mind explaining this a bit to me?
https://i.imgur.com/o0PW8mQ.png
Electra gone from aprox 800 usd to 0.000015 usd in 3 months - also it went from 20 USD to 830 USD in 1 day on the 10th of july to the 11th of july about 2-3 weeks later it died.
Anyone mind explaining this a bit to me?
24h vol: 46 USD
Basically someone made a shitty trade. Means nothing.
you mean to say that someone bought @ that price by mistake or something?
Mistake or not. Someone made 46 USD worth of trade and that valued the coin at 800 usd for that day. Like I said, it was never worth 800 usd.
Electra gone from aprox 800 usd to 0.000015 usd in 3 months - also it went from 20 USD to 830 USD in 1 day on the 10th of july to the 11th of july about 2-3 weeks later it died.
Anyone mind explaining this a bit to me?
24h vol: 46 USD
Basically someone made a shitty trade. Means nothing.
you mean to say that someone bought @ that price by mistake or something?
https://i.imgur.com/CwwxyVS.png
https://i.imgur.com/o0PW8mQ.png
Electra gone from aprox 800 usd to 0.000015 usd in 3 months - also it went from 20 USD to 830 USD in 1 day on the 10th of july to the 11th of july about 2-3 weeks later it died.
Anyone mind explaining this a bit to me?
https://i.imgur.com/o0PW8mQ.png
Electra gone from aprox 800 usd to 0.000015 usd in 3 months - also it went from 20 USD to 830 USD in 1 day on the 10th of july to the 11th of july about 2-3 weeks later it died.
Anyone mind explaining this a bit to me?
24h vol: 46 USD
Basically someone made a shitty trade. Means nothing.
Electra gone from aprox 800 usd to 0.000015 usd in 3 months - also it went from 20 USD to 830 USD in 1 day on the 10th of july to the 11th of july about 2-3 weeks later it died.
Anyone mind explaining this a bit to me?
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