Today's market crash is brought to you by Kraken's malfunctioning trade matching engine.
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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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Then you should *immediately* account for *exactly* what happened with today, what you plan to do about it, and how you'll make it right with your customers. You guys have had *zero* communication with your clients about this today - leave it to the internet to guess.
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What do you mean what happened? Selling drives the price down. Buying drives the price up.
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hahahahha. Jesse, that was a lame statement. by all means. show me a trade (any asset) over the past 200y where there was a seller, but not a buyer of equal size.
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It happens all the time. Orders get broken up across multiple counter parties. If you want to sell 1000 ETH in one shot, there'll probably be 50+ traders on the other side taking a piece of it. If you market sell it, they might all get different prices too.
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There is no such thing as FMV in crypto. There is the price of the market you're at. Coins can trade at ANY price. It's up to the market participants. We don't intervene in the market and tell you what reasonable prices are.
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Jesse, a trade needs a buyer and a seller... it might be 1 seller, 843 buyers. what is being questioned is the incapacity of the matching system to help out some idiot market selling a too large order. did he get an alert: hey, thats 10% below bid?
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Yes, the system prevents you from making market orders that would move the price that much.
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