Buy/Sell Walls - What the hell?

[baldhobbit]

I know why people use buy and sell walls, but why do they do both so close together?

Right now on poloniex.  Eth-USDT has a sell wall of 286.28 and a buy wall of 284.44.  It's not even a two dollar difference.  Why do they do this?  It's this way on about 10 coins that i've looked at.

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[puvanb]

Targets achievable easily by keeping it low gap. But this does not matter if you have buying or selling in low quantity. It matters if you buying and selling in large quantities. Quantities can make even $0.01 a big difference. For a 100 unit u achieve profit of $1. The more the merrier.

[The Sceptical Chymist]

Umm, because people want to get the best price usually.   Same reason some people will sell a house for $699,999 and not $687,999.  It may not be a big difference to a disinterested party,  but it is when it's your money.   In addition,  the market isn't in a panic right now.   If it was, there would be no buy wall and all the sell orders would be market orders.  So this is actually a good thing.

[tsaroz]

It's the price people are offering for buying or selling the specific coin. It's the value of coin determined by both people willing to buy and sell.
Every buyer would want to buy the cheapest stock first while every seller would want to sell for the highest bidder.
This difference in price is also the reason price of a coin goes up or down.

[coynedterm]

I know why people use buy and sell walls, but why do they do both so close together?

Right now on poloniex.  Eth-USDT has a sell wall of 286.28 and a buy wall of 284.44.  It's not even a two dollar difference.  Why do they do this?  It's this way on about 10 coins that i've looked at.

Actually this thing depends upon the many factors .
The first factor is the value of the coin , if value is much down then surely thier will be big difference between buy and sell wall .
Second factor is to the future , if discussion is of the future then people will buy at buy and sell wall , because they know why they are buying .
And thir factor is non understanding , that I seen many times , Few people who are newbie bought the coins at the high price and making the price wall of the buy order high then the sell order .
So all things are depends upon the demand that is going on at the current time in the market about the particular coin .

[VanDeinsberg12]

I know why people use buy and sell walls, but why do they do both so close together?

Right now on poloniex.  Eth-USDT has a sell wall of 286.28 and a buy wall of 284.44.  It's not even a two dollar difference.  Why do they do this?  It's this way on about 10 coins that i've looked at.

The first because there was no a lot of movement in the ethereum's market, you can see there is no a lot of pump in the recent time, that mekes there is no a big gap between the buy walls and sell wall.
That was my understanding about what already happened.

[Herbert2020]

because it is not one person/whale or 1 group of whales doing it, there are many traders and many whales and many groups in each market who are placing buy and sell orders. what you saw may have been 2 whales going against each other.

it is also possible that what you are calling a "wall" is simply a large amount in multiple orders on the same price and not exactly a wall. a wall for manipulation purposes is usually huge, as big as 500BTC or ~$2 mil and it may very well be poloniex itself placing those fake walls.

[linenoise]

If there is real volume for those coins then I would expect the buy and sell to be close together. People want to get as good a deal as possible so an actively traded coin will have close buys and sells.

Something without much movement may put a huge buy and sell wall to keep a coin within a range. This would allow them to potentially buy up some coins at near fixed price. If they're not in a hurry then large walls may get them the coins they want at the price they want.

[ipanks]

I know why people use buy and sell walls, but why do they do both so close together?

Right now on poloniex.  Eth-USDT has a sell wall of 286.28 and a buy wall of 284.44.  It's not even a two dollar difference.  Why do they do this?  It's this way on about 10 coins that i've looked at.

i think every people have their own reason to buy and sell so they place their order buy and sell  and locked in that position. i think its more than 10 coins because i see in poloniex every coins have buy and sell walls but there is a good spread that we can use to follow the price and i think we can take profit from that price.