Today's market crash is brought to you by Kraken's malfunctioning trade matching engine.
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The official response is a joke Jesse. Until proven otherwise the data is speaking against Kraken and not . Hope you issue an actual explanation.
Cheers,
Sebastian (usually happily trading on Kraken)
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Sorry, would love to understand what the data says. The chart shows where trades happened. Nothing more as far as I can tell.
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The data says that
a) Kraken has the dumbest traders on the planet trading for a split second against the bull and then changing their mind again AND/OR
b) Kraken's trade engine was dealing with an extraordinary event worse than all other major exchanges
(b) deserves a statement
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I don’t have any reason to believe anything malfunctioned. Possible people don’t understand how prices move with depth of order book.
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You're exchange doesn't allow depth in the order book because orders get pulled during any moments of heavy volume. Your exchange dropped further than any other exchange due to the inability for buyers to even enter positions, further exasperating a leverage cascade
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Once a liquidation stack is queued, there is no inserting orders in the middle. Traders who want to absorb movements need to have orders on the books in advance.