Yes, you're right - it's possible to place fake orders and cancel them as soon as the actual trades start happening near them. However, from my experience, it o

Yes, you're right - it's possible to place fake orders and cancel them as soon as the actual trades start happening near them. However, from my experience, it only happens during the pump (when the whales are pushing the price higher). You can see the explanation for including all buy orders here: https://news.ycombinator.com/item?id=18162456 https://news.ycombinator.com/item?id=18162456 Sell pressure is a bit different: while the lowest price is zero, the highest price is unlimited (technically, there is a limit enforced by exchange engine, but it's very high anyway). So actually, sell pressure should be calculated in base currency (in coin itself) instead of USD.