Kraken flash crashes

[Daal]

Kraken had a series of nasty flash crashes yesterday

Of course, the levered kool-aid drinkers are all blaming Kraken but they deserved every cent of those losses. Everyone knows flash crashes happen, I guess some folks need to be burned to learn that fire is dangerous

Anyone had tiny bids out there and caught some longs in these?

 

[NoahA]

I saw this on my app, but figured it was just a bad print because none of the other exchanges had this strong dip. Was this legit? Did the price really get this out of whack between the exchanges?

 

[Pekelo]

With tether they can clear their shallow order book pretty easily. Then let's go back where it started, nothing to see here. I am surprised it doesn't happen more often.

 

[DiceAreCast]

A few combined pulled orders in an order book and a flash crash where price momentarily dips close to zero are two completely different ballgames. One is to be expected. The other is testimony to a deeply flawed and manipulated asset or trading mechanism.

With tether they can clear their shallow order book pretty easily. Then let's go back where it started, nothing to see here. I am surprised it doesn't happen more often.

 

[MrMuppet]

This is just how this market is. Place your panic bids and make money.

 

[KINGOFSHORTS]

Sounds like the market is just lacking depth so a large sell order will cut through the order book like a hot knife in butter, crossing all the stub quotes and getting shit fills in the process.

 

[KINGOFSHORTS]

I saw this on my app, but figured it was just a bad print because none of the other exchanges had this strong dip. Was this legit? Did the price really get this out of whack between the exchanges?

Because from what I gather the 300+ Exchanges can have a different depth of market so Exchange A might have a thin order book on the bid or ask VS Exchange B so if you initiate an order on exchange A you would cut deep in the order book and start crossing stub quotes and getting shit fills.