Market Manipulation in plain view

[Cryptorwellian]

go to

https://www.binance.com/nl/trade/pro/ENJ_ETH

You will see the price is "magically" locked to a small margin between $0.155 and $0.165 for many hours already

Fishy thing is, as soon as any considerable buy orders are made (like a few ETH each), normally the price would jump up

Instead, a bot spawns a bunch of smaller or 1 or 2 medium sell orders that immediately counteract the price progression

What is going on here, and why ?

Is it to fix the price, and if so, who's doing that ? Enjin ? Whales ? Binance ?

Or is it Enjin or first in line investors who got their initial coins for peanuts and sell them now at a fixed price around $0.16 avg ?

The price keeps hanging at the same level, no matter how much you throw at it, very diff with the volatile Enjin of a week ago

All looks fake and artificial now

Questions Questions  

Your opinions please

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[Cryptorwellian]

The main clue here is :

The fabricated sell orders are there to fix the price, not for the profit of that sell order

As normally, you would sell at the top of the price heap, not for the lowest price possible CONSTANTLY

[Invigorated]

Am surprised it took you a long time to notice this. These exchanges have a way of always conniving with project developers to milk traders. It's not only Binance. This case is synonymous with most of the exchanges and unfortunately, there is nothing the traders can do about it. This will continue unless somehow, regulations come into place in this industry.

[Cryptorwellian]

Am surprised it took you a long time to notice this. These exchanges have a way of always conniving with project developers to milk traders. It's not only Binance. This case is synonymous with most of the exchanges and unfortunately, there is nothing the traders can do about it. This will continue unless somehow, regulations come into place in this industry.

Thanks for your input.

Glad to see i'm not just hallucinating after watching too many candlesticks.

[lobo13hf]

go to

https://www.binance.com/nl/trade/pro/ENJ_ETH

You will see the price is "magically" locked to a small margin between $0.155 and $0.165 for many hours already

Fishy thing is, as soon as any considerable buy orders are made (like a few ETH each), normally the price would jump up

Instead, a bot spawns a bunch of smaller or 1 or 2 medium sell orders that immediately counteract the price progression

What is going on here, and why ?

Is it to fix the price, and if so, who's doing that ? Enjin ? Whales ? Binance ?

Or is it Enjin or first in line investors who got their initial coins for peanuts and sell them now at a fixed price around $16 avg ?

The price keeps hanging at the same level, no matter how much you throw at it, very diff with the volatile Enjin of a week ago

All looks fake and artificial now

Questions Questions  

Your opinions please

That's a usual thing when you are seeing someone who has defend the price of enjin through use the bot. This is happen in the whole of coin on binance and it's not only in enjin coin. I have seen it so many times.

[Cryptorwellian]

all these tiny curls look just so unnatural, beyond belief

look at any forex pair, for instance USD EUR, and you will see normal patterns, not this idiotic crap

crypto is also volatile because most "traders" are emotional amateurs, compared to professional stock and forex traders who stay cool

these erratic patterns compared with all the bots  creates this unreal erratic trading platform called crypto exchange

[Cryptorwellian]

Trading with a stablecoin in the pair is already a bit better

[Perie200]

There is nothing strange in this, it is a common thing for crypto-exchanges. Thus, they support the life of the coin on the stock exchange, so that it does not hang dead weight.

[TimeTeller]

all these tiny curls look just so unnatural, beyond belief

look at any forex pair, for instance USD EUR, and you will see normal patterns, not this idiotic crap

crypto is also volatile because most "traders" are emotional amateurs, compared to professional stock and forex traders who stay cool

these erratic patterns compared with all the bots  creates this unreal erratic trading platform called crypto exchange

What you observed is really not new and this has been happening for years already in almost all crypto exchanges.
But it is good on your part to witness such manipulation on your own and realized what's really going on.
This will add to your competence when it comes to crypto trading and next time you can use the situation to your advantage.

[kawetsriyanto]

Trading with a stablecoin in the pair is already a bit better

Where does this sentence relate? Is this your conclusion or what? I don't really understand what you mean by "stablecoin". If you think it is like USDT, then I assume you are too afraid to battle in trading. You are no need to be afraid, brother. What you should do is to know well about the market condition and how it works. If you know there is a manipulation on market, then you should make it as your advantage. [I agree with @TimeTeller]

[killat]

Price is mainly manipulated by b8g whales that trade daily for huge profits.

You should never follow traders that having huge amount of followers, they manipulating the prices.
And im gonna advice you on something, only PAID subscription can give you good signals, whales doesnt want to make profit mate, thats what you should understand.And one more hint, start reading alone you are gonna understand much more things, than watching retards on you tube giving fake signals.

[Red-Apple]

somebody is clearly trying so hard to prevent the massive dump that is going to happen to ENJIN after its huge pump, we have already see it partly be dumped and it will continue to happen as traders want to cash out their profit but walls like this are there to slow down the process and create this illusion in the minds of the unfamiliar that the coin is doing well!!

[mindrust]

Do not trade shitcoins. Do not keep your coins on an exchange.

If you follow these 2 basic steps, you'll probably end up with more money in the long run and you'll also eliminate the possibility of getting bamboozled by an exchange hack.

[dhiraj0977]

It is not with any particular coin or particular exchange, it is happening on almost all exchanges and for all other coins, the market looks seriously being manipulated by these big whales. 

[Cryptorwellian]

Thank you all for your input.

It's been very insightful, really.

Days later ENJIN is still crap in exactly the same way, almost pinned / fixed around $0.167

With your input and my own thoughts combined, this looks indeed like a way to prevent huge payouts.

I challenge you to keep watching it for a while, you will see patterns you have never seen before.

 

MACD short line (yellow) going up in a 70° angle getting bent into a circle, ending up in an almost 90° downwards trend, all in 2 minutes, and all with
 heavily INCREASING volume... it's insane, really. Their script can even counter the biggest outbursts.

Enjin wallet runs on Samsung phone as a preinstall, yes.

But no easy access for customers to buy BTC

Customers can add any wallet to their phone they want.

So yes, it was all hype mainly.

[Ucy]

It this for an ICO or the general market?  Bianance alone can't move the general cryptocurrency market in my opinion. It is done with multiple exchanges, maybe from a single platform.
If this is for an ICO then I think they are probably using the same method. Such coin can easily be manipulated from a single exchange except it has very high demand.

[Red-Apple]

Bianance alone can't move the general cryptocurrency market in my opinion. It is done with multiple exchanges, maybe from a single platform.

it depends on the coin and also the percentage of the volume they have. in altcoin world when some altcoin exchange becomes too big that it  controls nearly all the volume of that coin it also gains full control over its price.
in the past we have had a lot of cases when they even pump and dumped coins themselves. there are hundreds of cases for Poloniex and others that did it when they were big.

[anatolij.shishkin]

Well, the big traders are manipulating the market. See growth on the coin on a large stock exchange is worth investing short-term. Win 20 -30% and sell the coin.