order book trick?

[smashrc]

For example, there was a bid order of 20000 coins at $10 yesterday and today I see there was a 20000 coins asking for $9. All orders are completed. Assume this is the same person doing this. What is the purpose for doing it?

[cpfreeplz]

To get fake volume on your shitcoin. That way people think it's more legitimate somehow and they go ahead and buy some from the one person who actually owns the coins for 1000x what they're actually worth.

[smashrc]

I see. Thanks cpfreeplz!

[BTCforJoe]

Some developers will also do this to maintain a “floor” or walls for their trading prices to establish a base value for their coins to ensure that coins aren’t traded for less than what they offered their initial investors. Sounds unlikely in this instance, but that may also explain some larger volume order books.

[Calumwilson]

It is a trading strategy to prevent price from going lower. When you see buying price with a large quantity logically speaking you will set your selling price higher than that amount. It can be done by any one.

[pooya87]

these are walls. in this case a buy wall. but there are also sell walls.

two things happen with these walls. they are either normal support/resistances at certain prices and that means when price reaches that point (for example when people dump and reach the buy wall price) these walls don't move, instead people sell into them or buy from them if they are sell walls.

or they are fake walls for manipulating the market. in which case it is the manipulator, a whale, who is placing big walls to create some kind of manipulative barrier to push the price in the other direction. if price gets close to their price level they will move further in so you will never reach these walls to sell to/buy from them.

[Deepiefface10]

For example, there was a bid order of 20000 coins at $10 yesterday and today I see there was a 20000 coins asking for $9. All orders are completed. Assume this is the same person doing this. What is the purpose for doing it?

big number of coin is alarm of fake coin or coin without future.

number of coins is one of main factors to know about new coins