Decentralized My Butt

[ncbeachdude]

It's now 9:39 PM Eastern Standard Time. I just watched ALL of the top Defi coins (Maker, AAVE, Comp, Celo, Uniswap) drop 27% in 1 minute, ALL at the very same time. Massive coordinated sell-off. All at the very same minute.

If all of those coins can be affected that way simultaneously, there is nothing decentralized about the Altcoins.

[Lagduf]

Why? the decentralized should be related to the network but it has nothing to do with the centralized market that was trading the asset. I think that you didn't get what mean of decentralized.
No one control the centralized exchange site and that's based on the demand and supply. How you can sure about that?

[ncbeachdude]

It was clearly a massive coordinated sell-off causing ALL Altcoins to drop 27% over 2 minutes. Sure, the network is decentralized, but if a centralized and coordinated network can de-stabilize the decentralized network, it's the same thing.

[killerkeemstar]

True, it's really sus for it all to drop like that

[asriloni]

over 2 minutes. Sure, the network is decentralized, but if a centralized and coordinated network can de-stabilize the decentralized network, it's the same thing.

It's not having any correlation with the network but the traders from all of exchange sites were dumping it at the same time. This is what we have called as the bearish trend. When there's a big dump and that will be happening to the all of coins. There must not be an exception for the coin to avoid the bearish trend. It's not about decentralized or centralized.
it's about the traders that were giving the same reaction to the market at the same time. I think that you should understand that dude.

[Review Master]

If all of those coins can be affected that way simultaneously, there is nothing decentralized about the Altcoins.

If anyone want to monitor alts and speculate what would happen next, than better to monitor the king of crypto, Bitcoin as alts are mostly dumped when btc made any huge dump or pump. And guess what, the same thing's happened lastly as btc break the resistance level of $48k and fall back to almost $46k price level. So, never miss any dip to buy back any alts which have more potential. If any alts are having correction, it won't mean to be a valueless alts.

[Josefjix]

This is market price and uptrend, mate. It has nothing to do with the Decentralization of the network, the meaning of the decentralised network isn't far fetched. Uniswap was around $2 in Q3-4 of 2020 rose to a quantum number of price in 2021. Does it make it the Decentralisation in your dictionary? These are altcoins they follow the monumental shrinking of bitcoin on the chart flow.

[Stanlo]

It's now 9:39 PM Eastern Standard Time. I just watched ALL of the top Defi coins (Maker, AAVE, Comp, Celo, Uniswap) drop 27% in 1 minute, ALL at the very same time. Massive coordinated sell-off. All at the very same minute.

If all of those coins can be affected that way simultaneously, there is nothing decentralized about the Altcoins.

What does decentralized have to do token price? This doesn't make any sense, there might be whales that invested big amount of money in all this projects you mentioned and decide to sell off, how is the word decentralized have anything to do with this?

[btc_angela]

It's now 9:39 PM Eastern Standard Time. I just watched ALL of the top Defi coins (Maker, AAVE, Comp, Celo, Uniswap) drop 27% in 1 minute, ALL at the very same time. Massive coordinated sell-off. All at the very same minute.

If all of those coins can be affected that way simultaneously, there is nothing decentralized about the Altcoins.

Never seen these coordinated drop as you describe, maybe it's coincidence or maybe they are colluding with each other, however it is still decentralised as no one can stop their activity. Maybe what you meant is fraudulent practice, yes, I believed this is really not a good way because of the coordinated sell-off. But what can we do no one can control them, no authority, no central government in the middle to stop this deceitful execution.

[Francis Freeman]

It's now 9:39 PM Eastern Standard Time. I just watched ALL of the top Defi coins (Maker, AAVE, Comp, Celo, Uniswap) drop 27% in 1 minute, ALL at the very same time. Massive coordinated sell-off. All at the very same minute.

If all of those coins can be affected that way simultaneously, there is nothing decentralized about the Altcoins.

This could very well be a reaction to the market and might have nothing to do with decentralization but it could also be.
What I don't like is the way the IDO are done where only selected few people can participate in it.

[livingfree]

It is normal whenever the market goes on red, everything follows. But don't you quick in judging, have a look at the market as of this time. Everything has rapidly recovered and bitcoin is going back to $48k.

Ethereum has got back to $1.8k.

What does it mean?

It means that majority of those altcoins will also follow these two coins to recover.

[youdacapt]

It's now 9:39 PM Eastern Standard Time. I just watched ALL of the top Defi coins (Maker, AAVE, Comp, Celo, Uniswap) drop 27% in 1 minute, ALL at the very same time. Massive coordinated sell-off. All at the very same minute.

If all of those coins can be affected that way simultaneously, there is nothing decentralized about the Altcoins.

Well what you have described is decentralization at its peak; people have the choice, chance and opportunity to decide to buy and sell their portfolios at anytime they desire or wish. One question i have is how are you sure it is the same time ? when the dump happened, did bitcoin dip in price ? if yes then it is possible that people sold their defi tokens in profit to buy bitcoin lows.

Either ways, learn trading, understand when to take profit because it will continue this way in the dexes.

[ashmodeus]

that why do not put all in one bag, i have AAVE on my porftolio, just AAVE based on defi category , and well , eventhough its decentralized , its doesn't mean price will have different reaction about market movement like now.  by the way , mostly major defi tokens have fast recovery after correction like this ,since we cleary know , mostly the tokens has been locked or staking for certain time.

[Fesatmas]

It's now 9:39 PM Eastern Standard Time. I just watched ALL of the top Defi coins (Maker, AAVE, Comp, Celo, Uniswap) drop 27% in 1 minute, ALL at the very same time. Massive coordinated sell-off. All at the very same minute.

If all of those coins can be affected that way simultaneously, there is nothing decentralized about the Altcoins.

Wait wait, so what do you understand about a decentralized and coordinated point of view?
because as if you take us to a very far understanding, where the altcoin market conditions can be coordinated with one tap and fall with one hit.

[Koutami]

Decentralized Exchange just want to provide Exchange without Centralized wallet, they give you oppurtunity to keep your wallet while trading on the exchange.
About the price, its nothing called Decentralized price which one to another coins are absolutely disconnected, they have market related also trader related maybe (some person who trade the pair).
So when it get to bearish trend, most of all coins will do the same since most trader want to keep their asset to the stable one.

[Valak]

It's now 9:39 PM Eastern Standard Time. I just watched ALL of the top Defi coins (Maker, AAVE, Comp, Celo, Uniswap) drop 27% in 1 minute, ALL at the very same time. Massive coordinated sell-off. All at the very same minute.

If all of those coins can be affected that way simultaneously, there is nothing decentralized about the Altcoins.

I think it's not a matter of centralization or decentralization. I think it's a crypto community game, maybe it can be said to be trend up or down. Small traders could not contain it if this happened. So, what should we do if this happens. Hold on with notes don't panic, or follow their game.

[Kang TB]

It's now 9:39 PM Eastern Standard Time. I just watched ALL of the top Defi coins (Maker, AAVE, Comp, Celo, Uniswap) drop 27% in 1 minute, ALL at the very same time. Massive coordinated sell-off. All at the very same minute.

If all of those coins can be affected that way simultaneously, there is nothing decentralized about the Altcoins.

thats what called market, sometimes we need to understand if a big whales taking their profit for sure the price will dump hard mate
wich mean the power of buyers decrease and the power of sellers increase, for sure the price will down hard

[Evilish]

It's quite normal to see these drops in alt coins when Bitcoin has even the slightest drop in price because altcoin prices are pegged to Bitcoin. Heck, we even see these kind of days in stock market where everything is in red. Rather normal, and I would say it's not any sort of manipulation.

There are multiple factors that contribute to it.

How I imagine this drop across the board played out.

Bitcoin drops 1.5k in a span of 5-10 minutes.
Since alt coin prices are pegged to Bitcoin, automated bots see a drop in price and execute their sell strategies to minimize losses. Taking price down.
Stop limit and stop losses are hit across the board, causing prices to drop even further.
People panic, and start selling their alt coins thinking there is going to be a bigger drop. Taking the price down even further.

End result is you see this huge red wave that took place within an hour.

That's just my theory and I could be wrong and there could be more to it too, but having been in alts scene for a while, I've seen this happen plenty times.

[shoreno]

how many times are you doing this . if its been a long time of observation then you can convince us and also what about the rise of these coins are they also rising in the same manner ? because thats also an evidence that they are all manipulated .

lastly you can try to add other coins in your observation because if others coins move too , your suspicoin can be false but what happen is only a co incidence and if your still worried about those coins try btc because btc is now turning into a non manipulative coin

[Marble777]

I can't say that because it's decentralized or not. that possibility could be coincidence, and could be due to the influence of btc which was down at $ 46k but btc is now significant at $ 49k and some of the top altcoins are starting to stabilize after experiencing a slight correction.