100M XRP Trade?

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100M XRP Trade?

Postby pftq » Thu Mar 19, 2015 8:31 pm

Is this a real trade? Seems like someone just bought 100M XRP. Completely dwarfs any volume we've previously seen.
Image
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Re: 100M XRP Trade?

Postby julianeon » Fri Mar 20, 2015 11:04 pm

You can see the transaction here, for those curious in how to gain visibility into such transactions, in the 3 day view.

https://www.ripplecharts.com/#/active_accounts
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Re: 100M XRP Trade?

Postby pftq » Sat Mar 21, 2015 1:17 am

I'm curious more how this trade was done given the low liquidity of the current market. Seems like a block trade, but is there such thing in Ripple?
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Re: 100M XRP Trade?

Postby robcat » Sat Mar 21, 2015 2:03 am

pftq wrote:I'm curious more how this trade was done given the low liquidity of the current market. Seems like a block trade, but is there such thing in Ripple?

If you are curious, you can look directly at the transaction.

Most likely the seller and the buyer agreed beforehand on the price and the time, and then they put their offers at the same time (A few dozen orders were eaten up by the big transaction, but they surely were negligible in comparison).

What surprises me is:
  • They exchanged Bitstamp USD IOUs, instead of choosing an out-of-band USD payment. In fact they saved a lot of fees...
  • The transaction memos say "rt1.3.4-2 - client", so they most likely used the web client to sign the transaction. Since it's a million dollar transaction, I would have expected them not to use the browser!
Last edited by robcat on Sat Mar 21, 2015 4:01 am, edited 1 time in total.
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Re: 100M XRP Trade?

Postby pftq » Sat Mar 21, 2015 2:43 am

robcat wrote:
pftq wrote:I'm curious more how this trade was done given the low liquidity of the current market. Seems like a block trade, but is there such thing in Ripple?

If you are curious, you can look directly at the transaction.

Most likely the seller and the buyer agreed beforehand on the price and the time, and then they put their offers at the same time (A few dozen orders were eaten up by the big transaction, but they surely were negligible in comparison).

What surprise me is:
  • They exchanged Bitstamp USD IOUs, instead of choosing an out-of-band USD payment. In fact they saved a lot of fees...
  • The transaction memos say "rt1.3.4-2 - client", so they most likely used the web client to sign the transaction. Since it's a million dollar transaction, I would have expected them not to use the browser!


Your points are exactly why I'm asking about the trade. Yes, I know the transaction linked is available, but it seems very suspicious as you described.
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Re: 100M XRP Trade?

Postby tulo » Sat Mar 21, 2015 4:18 am

Just reporting my post in general discussion:"

Someone today bought 100.000.000 XRP with 1M USD.Bitstamp and the price increased only by 0.0002 dollars. Strange behaviors :bah:
Do you know what's going on?

Who put a big order selling so many XRP to not make the price crash?
I believe it was a planned sell. Do you think it was RL? Who owns more than 100M XRP other than RL, JED and other founders that shouldn't be allowed to sell their XRP?

The two accounts involved:
-r3Q3B6A2giHDMef83AztzBStBm1JBmxUKX (Sold XRP) <-- JED ACCOUNT ??
-rnNFJg3EeGpYEtf82D4HbyD99XMyttzHQg (Bought XRP) <-- Rippleric ??"
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