can you explain this stuff?
Why does an exchange run by somebody who has market making experience have these kind of market candles, while they aren't there on other exchanges?
Please don't become the next BitMex.
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Yup this is the answer--looks like someone sent some large orders.
FWIW you can confirm with public API endpoints that this wasn't a liquidation/etc.
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I'm just wondering wouldn't we want some plunge protection for these type of trades or would be that impact the free market too much?
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We do have price bands--and in fact this order likely hit them, stopping a move of more than 2% on it
What does happen when these price bands get hit? Do you stop the execution of the last part of the order?
And based on the orderbook, at the moment of executing, couldn't you have calculated that the order would hit the bands? Or does that take a too big of a delay to calculate?
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We do stop execution if it would hit price bands. We allow the part of the order that'd be within price bands. We could stop the whole thing but my guess is people prefer we not?
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