Thanks for sharing! This looks like someone is preparing for some kind of HFT given the liquidity and selling pressure during powering down cycles. Probably there is not much that can be done about it but it can be a profitable venture if those orders are filled.
You are viewing a single comment's thread from:
Possibly yeah, its really hard to tell whats going to happen next - but knowing theres ~200k SBD being converted this week (My theory: its everyone getting spending money for steemfest) is a bit of a worry given how the market looks already..
I just wish I had more funds to buy the dip :)
me too... :)
200k SBD? I see only about 20k transfered to exchanges from the @steemfest account...
I didnt mean from the steemfest account directly, I got the 200k figure from @masteryoda 's report as the total amount of SBD-STEEM conversions qued up for the next 7 days.
I know Steemit Inc. is pouring in some Steep Power to the SteemFest participants, but they do that directly Steem->Steem Power from what I understand. And the fest is 2 months away, there;s plenty of time to get that steem for them.
As to the overall conversions, I think SBD turned to Steem is actually good as it removes the pressure of backing it up?
When SBD is pulled out towards exchanges, that needs to raise some worries.
I am personally powering down and immediately turning it into SBD. Waiting for Steem to go down and then buy it back.