Is the market being manipulated?
Many traders on Binance have encountered strange things: large orders suddenly appear, pushing the price up or down, and then they disappear. These are mostly big players or bots messing around, and they do this to let us small traders suffer.
Common tactics they use include:
Deception: Placing a large order to make everyone think the price is going to change, only to retract it later.
Fake Trading: Pretending to buy and sell, inflating the trading volume to deceive others.
These tactics throw the market into chaos, making it even harder for us small traders to make money. Can Binance do something about this?
How can Binance take action?
Investigate fake orders: Use technical means to identify those orders that appear quickly and disappear just as fast.
Punish the wrongdoers: Anyone who dares to do this should be dealt with, for example, by banning their accounts.
Regulate bots: Prevent those bots from causing random chaos and messing up the prices.
Make the order book more transparent: Orders should stay visible for a while; they shouldn't just disappear upon appearance, so that everyone can trust it.
Protect traders: Teach us how to avoid being deceived and provide better tools for managing risks.
Why does Binance need to act quickly?
If Binance wants to remain the leader, it must show that it can protect us. Small traders are the backbone of the cryptocurrency market; if we feel it's unfair here, we might just move to other platforms.
To regain trust, it must block those fake orders and manipulations. Fair trading depends on this.
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