 | Edit: Order Book Screenshot added at the end of the post. TLDR: Looking the the price chart from the first 10 minutes after a new token listing on a CEX. Price spike, visible on the chart has very little to do with orders filled. Advertised 459,6% is just some clever Marketing. Imo Exchange sold 20,000 tokens as a bait to get the party started. And the story itself: Today an Exchange listed a new token and I did a little experiment. Sent 200 MOONs tru ARB Nova to the Exchange. Took 15 seconds to arrive (once you fill in all security codes, which took a bit longer, of course). Fee: One MOON. Tokens arrived 20 minutes prior trading launch. Enough time to set a test SELL limit order, just for fun. $0.99 would make it good enough to post a screenshot, I thought. I was curious what the starting price would be. To my surprise, when the countdown ended, a nice green 0.1 appeared on the screen. Fuck selling, I thought. Had a spare 10USDT just sitting there and quickly set an $0.12 BUY order. Fingers crossed for a couple of seconds. Price quickly went to $0.5, then $0.84. Adrenaline kicked in. Keep going I said to myself. Make me proud. The price settled to 0.56 and I think the experiment was over. Advertised $2.45 price spike is nothingburger - otherwise my $0.99 SELL order should have filled. No such order in Order Book as well. Conclusion: Do not get envious when you see the initial price spike after a new token gets listed on a CEX. It's pure Marketing. [link] [comments] |
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