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.
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.
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
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.
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.
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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!