crypto

If you're having a bad day, please know that someone on OKX managed to get liquidated on a $1.65mil position when ETH bounced back up to $3,296.

Imagine how late you would need to open your short.

And imagine the leverage. The unholy leverage.

With proven evidence that every single CeX does market manipulation (single huge wicks, both red and green) to liquidate people, why anyone would play their game is beyond me. 

They know your position, your liquidation levels, and are a money making business, in a highly unregulated market. 

And if you're thinking your stop loss will save you, it won't. I've seen it multiple times. They say "technical issues due to high volume and volatility". Funnily enough, liquidations work just fine. Thugs. Straight up thugs.

Crypto enthusiast, ethics, movies and photography.

Founder of /gentlemanswagers

Would you say places like Coinbase do this too?

Raising $100M for an onchain MMORPG | Game Designer

For Coinbase I am not sure. But they have also been known to stop certain functions at times of extremely high traffic. Whether that is to protect their customers or the previously mentioned thing, I cannot tell for sure.

I’ve just never heard did this before, but I’m still a noob

They can, technically, cause a huge wick on their own chart. Think of it this way. Somebody longs, and the market is green. A single big red wick obliterates all longs. In a minute, everything is back to where it was. Market is still green, but all of those people are liquidated.