Bitcoin Forum

Yesterday, I was looking for what's going with ElonCoin price, after having a look at ETH/EMC pair, I was totally surprised. For your info, current price at that time was 0.00000050 ETH but someone has put a buy order of 19.28 EMC with a price of 31502 ETH  ;D
WHAT THE HACK was that? But within few seconds, it just got disappeared. Is it a bug or a wrong order placed? Check the 1st buy order.

A well programmed exchange normally takes buy orders above the current price and matches them to a sell order - after waiting for the arbitration server to take its steps on the database - it'll then disappear from the orderbook. It's likely someone just made a mistake and put that in imo, perhaps they were after a different pair (btc-usd).

It was probably just a bug. I don't think it was a wrong buy order. A trader couldn't place a buy order if he/she doesn't have the right amount of funds to pay for it. In this case, it is a very huge amount. 31,502 ETH, at least at its current price, is already more than $61,000,000. I am not saying there is no trader who has that huge amount of funds stored on a platform, but I doubt they're a lot. I hope I'm not mistaken and that the order wasn't gone because it was quickly filled up. That would be a terribly expensive error.

This looks like Binance app on phone, right? I have had similar issues with the website, sometimes the orderbook gets stuck or shows weird things if it is left open for a while. Their backend seems to have some bugs. If you refresh the page it should be fixed right away though.

It is a bug but that is not a binance app on phone. I have not seen eloncoin on binance or am I missing something?

Yes, you are right it is not on BSC. They have an ANN on BTT and you can find more about it here (http://"https://bitcointalk.org/index.php?topic=5344245.msg57248543"). There is nothing much to read about this project. In my opinion, it was created just to cash in the popularity of Musk. As per the information about the exchange, on their ANN I think the image shared by OP is of Dex-trade.

Centralized exchanges often use data to control prices.
Some large orders are made by them.

No, it's dex-trade web version.
I had a chat with the dex-trade team and they said it was a bug in their end and they have already fixed it although they didn’t share me any insights. Well, this should be a bug. Who would have hold such huge amount of ETH in their exchange account, on such a non reputed exchange even.

True but this is not the case here obviously.