This has happened too many times. Whenever I place an order, the price falls and the order does not get processed. The problem is, it happens at exactly the same time I place an order and it also happened too many times. With a bit of paranoia, it is very easy to conclude that the market is manipulated by the bots. The biggest problem is, it is so easy to create a bot that the only thing you need is a couple of accounts opened on Binance and API keys. You can emulate the whole swarm of bots using the Virtual Machine and the simple linux instances, while faking your IP for each.
This time, the simple order of $100 USD was placed only to cover the GAS fees for the Ethereum-based swap. A few minutes after that, the price started crashing. Yes, this is happening on Binance and almost every single centralized exchange. What I don’t know is whether this is an internal work or not. Nevertheless, investigating some exchanges, this was done internally, and it is simply mind-boggling that Binance would do such a thing at all.
Well, guess what! Krakin’t is working on an exchange that will change this. Yes, automated calls will be allowed. However, simply by a trading design, the front-running will not be possible. It is possible that some individuals will not agree with Krakin’t design and the way the trading will be done. That is fine, since anything new takes time to be accepted.
Soon, we will finish the token register/deposit DAPP (front and the backend), and then we will start building our exchange interface from a scratch!
Stay tuned, as more exciting information will be exposed this year.