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It depends which currency/ICO you're talking about. Trading $10M/day in bitcoin world is not a big deal. You can look at the market depth on various exchanges:
by olegkikin 9y ago
It depends which currency/ICO you're talking about. Trading $10M/day in bitcoin world is not a big deal.
You can look at the market depth on various exchanges:
http://bitcoinity.org/markets/bitstamp/USD http://bitcoinity.org/markets/bitstamp/USD
For instance, if you dump $10M worth of bitcoin on Bitstamp, the price will shift by only $270, and that's ignoring the hidden limit orders. And the market will react to it as well - cheaper coins create more demand.
- s17n 9y agoI'm not totally sure what the chart means (and I did read the explanation), but if I'm understanding you correctly, you're saying that Bitstamp has $10M worth of buy orders for BTC at a price of at least $(current price - 270)?
- modeless 9y agoYes, that is what he means. You can see a combined order book for most of the large exchanges here: http://data.bitcoinity.org/markets/books/USD http://data.bitcoinity.org/markets/books/USD For example, by looking at this chart one can calculate that if one sold 10,000 Bitcoins right now with simultaneous market orders across all exchanges, one would receive north of $40M and the price would drop to $4,000.
- justjonathan 9y agoThat's great in theory, but in practice that's not what happens, because new orders influence existing orders, and cause additional new orders to be created. Much smaller sales can in fact, and to do, cause much larger price movements.