SPT Market Bot On Hive-Engine (Watch As I Jack The Price Of SPT)
"Rentmoney, what the hell are you talking about?"
"There's (multiple) bots likely owned by the same person on the Hive-Engine exchange that has massive SPT buy/sell orders."
"So, what's the problem?"
"The buy order is for over 250,000 SPT and it looks like there's a sell order for over 100,000 SPT."
"But why is this bad?"
"I never said it was. I'm just bringing attention to it."
I haven't done any digging into who has the buy/sell order bot(s) as the who doesn't matter. I'm only bringing attention to the fact its happening. If both bots are owned by the same user (very likely) What this specific user is (very succesfully) doing is creating a massive buy order wall for SPT and then creating a sell order wall while taking the profits inbetween. The bots are designed to stop relisting the orders once the buy and sell orders come close to each other. Anytime someone undercuts either wall the market bot removes the initial orders and replaces them back up so they become the first order sellers/purchasers of SPT sell or buy into.
Now without digging any deeper then what I mention here there's a chance that the buy order bot and the sell order bot are owned by different people but I doubt it. Below you will see a screenshot of the Buy/Sell orders for SPT before I start placing my SPT buy orders. Below the first screenshot you will see the new price for SPT after I jack the price of SPT. My orders never fill because the bot always relists their orders for slightly higher then mine (up to the point where its no longer profitable for the bot to do so).
SPT Buy/Sell Orders Before I Jack The Price
SPT Buy/Sell Orders After I Jack The Price
My Buy Orders
Market Bot Buy Orders
- First Screen shot: 0.00900
- Second Screen shot 0.01025
Both the 8,000 SPT and the 251,730 SPT buy orders are marketbots. I been watching the SPT market very closely the last few days and noticed these bots have taken control of the SPT market. Yesterday the 8,000 SPT buy order was 4,000. I could easily push the SPT price closer to the sell orders like I did in previous days but I think the above clearly shows what is going on so no need for me to do so. I just tested the Sell order and the 104,000 SPT sell order does the same thing (immediately undercuts my order). Make of this what you will. I thought it an interesting topic to post and notifiy others about so I did. What is your opinion on these market bots?
What Is SPT?
SPT is the token awarded on the Hive frontend known as Splintertalk. The Splintertalk frontend is specifically for content related to the Hive blockchain game known as Splinterlands.
What is Splinterlands
Splinterlands is an online blockchain game built on the Hive Network. It utilizes NFT's for game play. These NFT's and other in game assets are tradable and have real monetary value. Click here to play or to invest in Splinterlands. Play for free or pay $10 USD and start earning today!
What Is Hive-Engine
Hive-Engine is an exchange built on the Hive-Network. It host many second layer Hive tokens such as SPT / LEO and Proofofbrain to name a few. Visit Hive-Engine today--> https://hive-engine.com/
Posted Using LeoFinance Beta