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The original was posted on /r/cryptocurrency by /u/rootpl on 2023-08-11 14:15:28.

Today Moons were listed on Bitrue exchange. Once the trading started there was very little liquidity on the exchange. Bitrue is not very big, they are at around 34th spot in terms of the trading volume.

Once people realized that the trading volume is very low they’ve decided to take advantage of it and someone listed 250 Moons for around $2.45 each as a limit order.

Some poor soul who decided to buy Moons using market order and bought 260 moons for around $600 dollars… with normal price of around $0.50c they could have gotten 1200 Moons instead on Kraken or Mexc…

Price jumped to around $2.46 for a brief moment and then quickly crashed to $0.55 because someone else sold only 16 Moons at a regular price of less than one dollar.

This shows how easily price can be manipulated if volume on exchange is very low and liquidity is poor.

Please be careful with your orders while trading. Use market order only when you are absolutely sure that there’s enough liquidity on exchange to actually have that order filled at the price you want. Otherwise just use limit order that will only trigger the sale and buy orders at price levels that you actually want to use.