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Strange volumes on Bitstamp


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1 hour ago, Triceratops said:

I assume this is Jed dumping his XRP?

 

 


The time correlation does seem correlated and so might be evidence for that belief.

But am I missing something?   After selling he has Bitstamp Dollars.  How does that affect the Bitstamp XRP pair?

 

That linked text is saying (and I’ve heard this from multiple sources though never checked myself) that Jed sells the XRP on the DEX.  Then he has Bitstamp:USD which he transfers to Bitstamp and then sells....    presumably for USD.

The O.P. was asking about XRP:USD which is not Bitstamp:USD at all.  (EDIT: I think.   I asked in post below for clarity)

Is there a connection that I am missing between “redeeming” the Bitstamp:USD on Bitstamp and the XRP chart?


 

Edited by BillyOckham
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1 hour ago, Rehtori said:

There is strange volumes on Bitstamp USD/XRP. Always 11:00 am (GMT +2h zone). Opinions anyone?

 

bitstamp.png


Can you please clarify what pair exactly that is?  (See my post above).  Thanks in advance.

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Apparently the liquidity providers on XRPLedger (those that buy JED's XRP in exchange for Bitstamp.USD) buy their USD on Bitstamp. It seems logical.  I never noticed it but seems logical. 

So the liquidity providers (check the top accounts on https://xrpcharts.ripple.com/#/active_accounts orderbook Bitstamp.USD/XRP for their XRP addresses) do this, in a few cycles:

  • buy USD on Bitstamp exchange using XRP
  • withdraw USD from Bitstamp-exchange to XRPLedger
  • place order Bitstamp.USD / XRP on XRPLedger (they can actually use the price they got from the trade on the Bitstamp-exchange)
  • exchange some of Jed's XRP
  • deposit XRP back to Bitstamp-exchange
  • restart cycle

This way the XRP is exchanged on the XRPLedger. It could more easily be done directly on Bitstamp, so the reason why it happens on XRPLedger might be interesting and have something to do with either a matter of principal or perhaps more probable, to avoid regulatory difficulties 

Edited by jn_r
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2 hours ago, jn_r said:

Apparently the liquidity providers on XRPLedger (those that buy JED's XRP in exchange for Bitstamp.USD) buy their USD on Bitstamp. It seems logical.  I never noticed it but seems logical. 

So the liquidity providers (check the top accounts on https://xrpcharts.ripple.com/#/active_accounts orderbook Bitstamp.USD/XRP for their XRP addresses) do this, in a few cycles:

  • buy USD on Bitstamp exchange using XRP
  • withdraw USD from Bitstamp-exchange to XRPLedger
  • place order Bitstamp.USD / XRP on XRPLedger (they can actually use the price they got from the trade on the Bitstamp-exchange)
  • exchange some of Jed's XRP
  • deposit XRP back to Bitstamp-exchange
  • restart cycle

This way the XRP is exchanged on the XRPLedger. It could more easily be done directly on Bitstamp, so the reason why it happens on XRPLedger might be interesting and have something to do with either a matter of principal or perhaps more probable, to avoid regulatory difficulties 


Thanks for that explanation.  I think it’s largely missed in the enormous volume of wise words spouted about Jed sales.

I believe it’s likely the XRP DEX was specified in the original agreement with Jed.  It makes sense as at that time Ripple were hopeful that the DEX with its pathfinding and amazing capabilities would become more used over time and this drove some volume onto it.

 

So it’s the market makers volume that is seen on Bitstamp at that regular time.  Interesting,  because anything as repetitive as this would seem to present opportunities for others to front run.  It’s a bit weird that they don’t spread it over time a bit more just for their own benefit.

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37 minutes ago, BillyOckham said:

So it’s the market makers volume that is seen on Bitstamp at that regular time.  Interesting,  because anything as repetitive as this would seem to present opportunities for others to front run.  It’s a bit weird that they don’t spread it over time a bit more just for their own benefit.

Crumbs, left to be picked up by us little birds :P 

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