Price of Steem propped up at exchange... Why?

in #steem5 years ago

VeBitcoin exchange

download (17).jpg

I was checking out CoinMarketCap and I suddenly saw an exchange I never heard of listing Steem at 10X the price. Steem/BTC was traded at 3.83 USD for a volume of little over 4000 USD.
Very strange, worthy to check it out. I know about the Korean exchanges that trade Steem way higher but no deposits or withdrawals are allowed, so that doesn't really count.

Knipsel.JPG

It gets stranger

Very strange indeed, if you look at the order book below, you will see that the sell orders are at 10 times the price of Steem on other exchanges, but the buy orders aren't. There is even a sell order at 0.01 BTC!

Then you check the latest trades, and what is going on there? Steem was sold a few times at around 90000 satoshi, but every time it is only 1 Steem and some change that was traded. The bigger orders are all at the normal price. Very very odd, and to me this seems like a trap. A trap to lure in people to start arbitraging at this site. Which I would definitely not do! This looks all very shady! Beware, people.

Knipsel1.JPG

Sincerely,

Pele23

Coin Marketplace

STEEM 0.37
TRX 0.12
JST 0.040
BTC 70162.45
ETH 3540.43
USDT 1.00
SBD 4.79