Quite a few huge PPC sales recently

We have seen quite a few huge PPC sales on BTC-e recently (>10000 PPC) every two days :

https://bitcoinwisdom.com/markets/btce/ppcbtc

Are the rats leaving the sinking ship? What’s your point of view?

At $2.07/PPC, those sales aren’t large, either by price or by proportion of outstanding coins. It could be someone trying to trigger a market shift, or it could be someone liquidating a portion of their holdings, or a vendor exchanging PPC.

In any case, the coin has been stable over the past couple of weeks (for better or for worse), and these sales don’t appear to be market moving.

Crypto is in a general slump right now, across the board, so I wouldn’t try to read too much into these sales.

Are you trying to say btc-e is a sinking ship or PPC?

It’s clear to me that this is trading activities. Sellers at resistance take over. At support there is less selling pressure. I wouldn’t be to surprised if they simply sell when there is enough liquidity/depth. The main point is that the action is at resistance. If price breaks to the upside, people will just do the opposite and buy at support. Nothing abnormal about this. Typically for traders swing-trading. Those unloading now expect to be able to buy back cheaper.

It is understandable that sb. would like to sell their Peercoins.

I have to say, in China, there are some good promotions happening. People are being aware of advantages of Peercoin & PoS faster than before. Chinese Peercoin Community is working well, we are promoting Peercoin in China and making good progress.

I heard news that some altcoins is considering how to survive in case scypt ASIC have come true. And it seems PoS is the only way for them and some are learning PoS now.

If sb. wanna sell, it’s fine. Don’t worry.

The huge sell orders are being bought up immediately it seems, the value doesn’t even have to climb up again, its instantly back at the old level :dance: that’s a sign of a very solid value if you ask me.

You should also consider the contrary view, which is a few large purchases have happened recently.

I personally know a few people who have been making large purchases this past week.

Hopefully this is a good sign.

Just noticed 2 new big sales just a few minutes ago for a total of ~13500 PPC :

Still lot of buy support though :slight_smile:

Thanx everybody for your answers.

New big sale of about 14000 PPC on BTC-e with a new price low of 0.00432 BTC :

Will it go any lower?

btc seems to be going up a little, so a lot of traders try to jump in on that, and sell their ppc. It’ll correct later on, I dont see any problems with it. ofcourse, I might be wrong :slight_smile:

Agreed. I’ve seen this many times before. BTCUSD goes up and people liquidate PPC (and other alts as well) to be able to participate in the rally. I stand by the prediction I made (http://www.peercointalk.org/index.php?topic=2553.msg25509#msg25509) but we will have to wait for BTCUSD to cool of before PPCUSD follows. BTCUSD I expect will visit $500, but first there will be a sell-off at ~$465. If price goes up to quickly, that’s a bad sign. :rant:

EDIT: Wow, that was a small minor sell off. Now I’m watching 500.