How Does One Explains Buys Like This

[Awesomus Maximus]

A large buy on Agrello ($DLT)

https://pbs.twimg.com/media/DY81860U0AEohdl.jpg:large

What does it mean?

[piloder]

First I don't have any idea about this coin  Agrello and second this volume is small compared to trading volume it have across all exchange.
11,555,100 USD is its 24 hour trading volume so this single purchase of $145k around is not big.

[Awesomus Maximus]

Got it. So one doesn't put so much emphasis on such events in trading then.

[eternalgloom]

Yeah I personally wouldn't look into that too much, I mean it's obviously a large purchase, but you could never be sure if it means something or not.
It could be the case that some pump group is preparing to pump that coin and is first buying large quantities for themselves, but like I said, can't be sure.

Could be very risky to base your trading strategy on events like this.

Edit: Could also be artificial volume, didn't think of that before someone mentioned it.

[TheQuin]

I take it that's an image of the order book rather than completed trades. That could be a real order that someone wants to buy a large amount at that price but equally, if the price gets there the order could get pulled. Painting the book is a practice that's been part of trading for a very long time, now more commonly called spoofing as it is automated by bots. The idea is to make people think there is demand and then they will buy the price up into the spoofer's sell short orders above. Then when they are filled they pull the large buy order and watch the price fall back to where it came from and take their profit.

[Awesomus Maximus]

It could be the case that some pump group is preparing to pump that coin and is first buying large quantities for themselves, but like I said, can't be sure.

Yes, pretty strange for a relatively unknown cryptocurrency.

That could be a real order that someone wants to buy a large amount at that price but equally, if the price gets there the order could get pulled. Painting the book is a practice that's been part of trading for a very long time, now more commonly called spoofing as it is automated by bots.

You mean the guy didn't really want to buy the coins, just to pump the price. But, isn't that risky? Hypothetically, someone could be selling that many coins at the very same time.

[TheQuin]

You mean the guy didn't really want to buy the coins, just to pump the price. But, isn't that risky? Hypothetically, someone could be selling that many coins at the very same time.

It's always been risky but it has been practised in trading since time began. Now on fiat exchanges, they do it with ultra-high speed bots, colocated at the exchanges, that can pull the order in an instant so there's less risk... unless they get caught as it is also illegal. That doesn't in any way stop it happening though.

[Awesomus Maximus]

It's always been risky but it has been practised in trading since time began. Now on fiat exchanges, they do it with ultra-high speed bots, colocated at the exchanges, that can pull the order in an instant so there's less risk... unless they get caught as it is also illegal. That doesn't in any way stop it happening though.

How very interesting. Thanks for the explanation.

[yyui]

Its liquidity is not good, the transaction volume is relatively small, which is more dangerous, some people can manipulate the price at a very low price, but also need to promote