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RE: Are We Seeing Spoofing on the STEEM Market?
I found this to be a very interesting analysis. If spoofing is happening on the Steem market, it can create a false impression of buying or selling pressure and may mislead traders into making poor decisions. Transparency and careful monitoring of the order book are essential to maintaining confidence in the market. Thank you for sharing your observations and encouraging discussion on this important topic.
I did a small test, and the large orders appear to follow your position.
When I placed a sell order for a few thousand STEEM just below one of their large sell walls, the wall immediately moved down to stay ahead of my order, preventing it from being the best offer.
The same thing happened on the buy side. When I placed a buy order just above their large buy wall, they moved their order up to stay in front.
Based on this, it seems they only allow smaller buy and sell orders to pass while keeping control of the top of the order book.
0.00 SBD,
7.08 STEEM,
7.08 SP
Thank you