Bitcoin Forum

I just noticed today a coin called CBD Crystals listed on Cryptopia that was sold at 200 BTC on first trade.
Some days ago, at Zcash launch, someone's bought peanuts zcash on Poloniex  at 3000 BTC.

Anyone remember other crazy buy orders in past crypto history time?

Ubiquion also has that massive buy in their ICO getting 200 or more in 24 hours,and it was also over that day but unfortunately nothing happens in this Ico and people thinks that the dev just self buy his coins..

Indeed,  im quite assured that devs  do  just self  buy on their coins   and  thats  a  marketing  strategy of theirs  because   they just want to show to  public that their coins  have the potential  and   they  intend to  put  money  on a particular coin and  the  hype   would  pile  up and  in days   more people  would  tend to  buy more  because they are seeing  that its already famous  just like what  happen to zcash.. 3300 btc and  now  it dropped to 1 btc.

almost every single coin that is released on a big exchange service for the first time has a history like this. but it has to be released on a big exchange first not have its price determined on another smaller exchange and then release on a big exchange like poloniex.

it is both because the devs are buying it themselves to hype it up with fake buy/sell orders and also some people joining in to take huge risks but use the big swings at first release.

and Zcash is only hyped up too much which is now dropping fast and it is 0.7 now by the way.

The price any newly listed coin have on its first buy doesn't mean anything regarding the potential of that coin. Usually when market was just opened there will be no any real coin available for trading so all those first buy/sell where like testing by trading platform and those buy/sell amount will be in really small amount so that will not value much even in the case of first buy trade of zec at 3000 btc.

Lisk had crazy prices (like 400 BTCs) at its first orders in poloniex! Also, its IOUs in yobit was selling for 2,500,000 satoshis for a few hours!

Waves IOUs in yobit were selling for 10 million satoshis before the exchange reset its market.

I saw the same phenomenon on Cryptsy for half the new coins added to its markets. I sometimes wonder if whales deliberately buy a few sats worth at the rate of one Bitcoin per altcoin to manipulate the charts. Because of those crazy buy orders the full trading history of half the coins on cryptsy was impossible to view, it showed as a flat line at a crazy high price. Those crazy buy orders hid the first day prices on the historical charts so nobody could see how badly those coins got dumped.

There could be developers who had whales backing up their coin to help in the pumping process :-\