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BTCVIX
@BTCVIX
1) I am fine to wait for the post mortem here, possibly I am missing something but 2) in 2021 to have something like this happen on top pair like $ETHUSD from a company that has been around for half decade is hard to understand & be critical
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Jesse Powell
@jespow
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Replying to @luyongxu
Hi Kevin, I'm a fan of @coinmetrics 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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BTCVIX
@BTCVIX
I can dig through the archives this happens a bit more on Kraken for some reason Jesse also a 50% discount from the rest of the market on a major pair tells me some one of risk management over there at Kraken is sleeping.
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BTCVIX
@BTCVIX
I know you are smarter than this Jesse- how about a market order that wipes the books to a point of generating a liquidation cascade ? You can't with a straight face tell me what occurred today on Kraken was orderly market function, more levered up exchanges didn't move that much
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stack those sats.HODL
@stackthosesats
I believe what he's saying is people were over levered on margin and had various shitcoins as collateral, which is why many coins moved down - they were sold off to cover those positions. It explains exactly what happened. Most have ETH, then the rest of the alts.