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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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56217091 No.56217091 [Reply] [Original]

wtf is this shit. Look at the absolutely garbage spreads on the legit exchanges, and the only markets with any depth are the definition of literal whomsts.
what do you make of this, /biz/?

>> No.56217126

>>56217091
It's being artificially propped up by a shady group of whale to dump it when smartcon starts? No that's not possible, I would know I am an official Chainlink advocate

>> No.56217130

Classic crapto manipulation

>> No.56217145
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56217145

>>56217126
I fucking knew it… fuck

>> No.56217317

>>56217126
I would read it more as "there are almost no LINK on the market, to the point that even mild accumulation is causing the current crab moon we're experiencing. "
$600k 2% depth on Binance? Absolutely ridiculous. That's nothing.

>> No.56217324

>>56217091
explain this to me like im retarded

>> No.56217330

>>56217324
Expect a dump after smartcon

>> No.56217414

>>56217324
The exchanges with any meaningful volume (Binance/Coinbase) have extremely low spreads. It would only take $600k on Binance, bought or sold, to move the price of Chainlink 2%.
This suggests there is very little LINK available and even small buys or sells should heavily impact the price, but that's not what we see. LINK did $400 million daily volume yesterday on a $600k +/-2% spread.
So what is going on? Wash trading? Algorithmic fuckery? You tell me, anon. How do you do $400m volume on a token with that little spread, without the price bouncing all over the place?