I watched that happening a few hours ago. it looked like a bot trading with itself or with another bot. it managed to shift the price upwards a bit then there was a small up turn followed by a dump. not sure if that was all orchestrated or someone took advantage of the slight lift. it was very odd anyway.
Seems like a dumb idea with the transaction fees? Wouldn't they lose $ on every single one of those?
the initial trades were fractions of btc. from what i can remember the volume was around 50 btc. the rally that followed it was genuine. the volume that was dumped was around 5000 btc. like I said don't know if it was planned or just fortuitous circumstances for someone who had 5000btc to drop.
