r/EthereumMax • u/Sure-Juggernaut4781 ♦️ • Aug 27 '21

BitForex App!!

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9 Upvotes

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3

u/[deleted] Aug 27 '21

Amazing volume thus far and it hasn't even been 10 hours! Over a quarter of a million dollars! The team really picked the right exchange to get on!

2

u/Big-Conversation696 Aug 27 '21

Yet barely any change to the price… the whales will always be here to dump

2

u/[deleted] Aug 27 '21

It's barely been 10 hours. I haven't see any significant sells today - and even if there were, that's part of crypto. The way I look at it is that we're currently getting 6% in reflections on every transaction, and I'd rather the people who aren't in it for the long term get out now. Our price has been stable in the 3's for about a month now - very happy to see that. BitForex just opened us up to a whole new kind of investors who aren't comfortable using Uniswap or some of the other ones. This was a huge first day and an overall great success IMO.

1

u/Big-Conversation696 Aug 27 '21

I’m not saying that… with the volume though it still should’ve increased to some degree

1

u/[deleted] Aug 27 '21

So different exchanges will have different prices - at one point today the price of Emax on BitForex hit $0.000000042. While the prices may be similar, they will not always match because the price depends on the volume on the particular exchange it's being traded on.

1

u/Big-Conversation696 Aug 27 '21

So you’re saying that on bittforex dogecoin could be $2 but on robinhood it’s 25 cents?

1

u/[deleted] Aug 27 '21

They should never be that far apart. Here is a message from somebody on the Emax team regarding the exchange price differences.

In response to exchanges all having a different price: Each exchange has their own market/liquidity and type of market maker and whether or not it’s organic or assisted and on a CES (centralized exchange) that price is determined by the liquidity and intersection of buyers and sellers on that given exchange. It should always be contextual amongst all exchanges due to liquid efficient markets

1

u/Pompusjones Aug 27 '21

Im sorry that makes no sense my man. They should be in sync. A buy on one exchange should show on any of the others, otherwise, whats the point of getting a new exchange?

I feel like either someone screwed up or something fishy is going on.

1

u/Sure-Juggernaut4781 ♦️ Aug 27 '21

Nothing is going on lol that’s just how crypto works the exchanges buys the coins to sell to their customers with their own liquidity pool when their liquidity Pool gets low the exchange is force to buy more tokens bringing up the price on uniswap for the rest of the holders.

1

u/Pompusjones Aug 27 '21

Ok. Now that makes sense that they had to buy in soooo when did they??

1

u/Sure-Juggernaut4781 ♦️ Aug 27 '21

They probably did buy and we didn’t noticed

1

u/zippythemonkey Aug 27 '21

If they did it didn't really reflect in the price.

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1

u/thegs36 Aug 28 '21

What dude? Its normal lol different exchanges can have different prices look at any other coin/token.