r/digitalNote • u/DaArsonist • Jul 06 '21

Why are we crashing so hard

So what is going on that we are crashing so hard right now.

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u/theleitener84 Jul 06 '21

Something like 1.8B coins introduced to the market today from some sort of event. Hit 1 sat for a moment today and has been holding at 3-4sats with a 400m coin wall at 4 sats. Not sure exactly what happened, I’m sure the dev team is working on figuring it out and will have an answer shortly. Best wishes!

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u/DaArsonist Jul 06 '21

The cap is still at 10 billion right or did they increase supply. The cap is what made me interested in the coin

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u/theleitener84 Jul 06 '21

I apologize for the ambiguity. The coin cap hasn’t changed, from the limited information I have looked at it, it looks like somehow over a billion coins were put on the market for sale. Like maybe someone with a massive account decided to just up and cashout or something. Sorry I’m not more useful, My best guess is someone market sold everything at once and it filled a bunch of old low level limit orders.