Large Book Order

[weijingsheng]

Currently using GDAX to trade and there is a massive buy order for 300 ethereum which has moved around, seemingly posted up by a single entity. How would you guys interpret that?

[drachman]

Currently using GDAX to trade and there is a massive buy order for 300 ethereum which has moved around, seemingly posted up by a single entity. How would you guys interpret that?

That is an order of only 85000 dollars that is not enough to move the market but it could move the prices in the exchange a little bit, I will not think much of it, that is a single person that thinks that ETH is at a good enough price to buy and it is following his thoughts with his wallet, nothing more.

[Sephire]

GDAX 24-hour ETH trading volume is $26 million on coinmarketcap.com so this order is not
big at all for a top exchange like GDAX. It can move price a bit for the next minute but nothing
permanent.

[leea-1334]

Sorry to disappoint you but that is not a large order at all. Even 3,000 ETH these days will be eaten up so quickly. If you want to see what a daily volume looks like, just check out Markets at coinmarketcap. Look for ETH and look for the pairs trading at GDAX. And GDAX is not the biggest volume either for ETH.

[Iyeman]

Currently using GDAX to trade and there is a massive buy order for 300 ethereum which has moved around, seemingly posted up by a single entity. How would you guys interpret that?

That just a usual buy order and that can't be considered as large buy order , i remember when the whale are trying to buy a lot of the ethereum in polo worth thousand ethereum token.
That just a common order and don't interpret anything.

[followmenot]

This isn't very huge order. But its big enough to shake market. I really don't understabd whats motivation behind huge orders anyways. I would personally divide and buy if I had to buy with that huge amount to not create major movement in market.

[Jafri101]

Currently using GDAX to trade and there is a massive buy order for 300 ethereum which has moved around, seemingly posted up by a single entity. How would you guys interpret that?

If you can see Bitcoin Cash had large orders then this 300-400M but these days Ethereum has much large order book for itself thats because the big fishes tend to buy that.

[Seansky]

Currently using GDAX to trade and there is a massive buy order for 300 ethereum which has moved around, seemingly posted up by a single entity. How would you guys interpret that?

It is not that huge of an amount because it is not enough to control ethereum price but it is enough to dump a price in one exchange. Still it was a big sum and probably a whale got interested in buying some ETH now so expect some FUD that will help bitcoin price go up. Also, it will be bad to sell now since probably the one who bought that might be planning to hold long term so there is nothing to worry about.

[weijingsheng]

Thanks, guys.
Trade Volume was extremely low at the time so it stood out. Seeing far bigger orders today.

[bananadines]

Currently using GDAX to trade and there is a massive buy order for 300 ethereum which has moved around, seemingly posted up by a single entity. How would you guys interpret that?

That is an order of only 85000 dollars that is not enough to move the market but it could move the prices in the exchange a little bit, I will not think much of it, that is a single person that thinks that ETH is at a good enough price to buy and it is following his thoughts with his wallet, nothing more.

Yeah its not enough to move the price up that much, maybe there is going to be a spike on the exchange. You should watch out for some really big orders or you check multiple exchange at the same time.

[hangar18]

Currently using GDAX to trade and there is a massive buy order for 300 ethereum which has moved around, seemingly posted up by a single entity. How would you guys interpret that?

It is not that huge of an amount because it is not enough to control ethereum price but it is enough to dump a price in one exchange. Still it was a big sum and probably a whale got interested in buying some ETH now so expect some FUD that will help bitcoin price go up. Also, it will be bad to sell now since probably the one who bought that might be planning to hold long term so there is nothing to worry about.

And you have to remember the whales in Ethereum or Bitcoin never have money under 100 or 1000 BTC, depend on the cycle and volume trade in every time. Some traders just by small order like 10-20 BTC think those orders are whales, but they are wrong haha.

[drachman]

Thanks, guys.
Trade Volume was extremely low at the time so it stood out. Seeing far bigger orders today.

No problem, you are a newbie in the forum but I do not know if you are a newbie in trading, if you are, you are going to see a lot of things that at first are going to surprise you but after some time you are not going to think much of them, but that only comes with experience.

[ROT13]

Haasbot in action

[thepo1m]

Some institutional set up, maybe they are selling one huge portfolio and don't want to move the market, this kind of setup is common if you use most of this big exchanges alot