Today's market crash is brought to you by Kraken's malfunctioning trade matching engine.
Conversation
Hi Kevin, I'm a fan of but don't you think it's irresponsible to make misleading, disparaging and libelous statements on the basis of your own speculation, without any direct information? I'm sure you can think of a plausible alternative. Hope you issue a correction.
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Wooow calm down, you are the boss who really should stop defending but instead helping out. There was no other exchange with these insane non-market prices. Eth going down to USD 700 !!!!!!! Please repair, you can’t rewind.
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Every price is a market price.
Except it wasn’t, because the market broke. Clearly liquidation and stop loss orders triggered the event, however, Krakens API seized up under the lid. I personally tried to place supporting bids in ADA at 50/40/30 cents, but the API returned “unknown errors”.
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Additionally those new orders that did go through happened with 1+ minute delays. When the liquidation orders happen from within the system, but external market participants can’t place bids to stabilize or arbitrage market, serious problems happen. (Ada at .15)
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So did someone big (like a ) market sell everything on Kraken this morning or what? One pair, sure, but almost everything?
And your system did not allow anyone to trade at that moment. Kraken liquidated and some could pick up the pieces but we were not allowed to buy and sell due to system errors. If you don’t repair generously, you are not worth having this platform.
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