somac.
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November 12, 2017, 05:09:41 AM

The strange thing here is that despite the massive volumes, crypto market cap is still mostly the same.

Latest move is caused by Wu and Ver selling their BTC stash and buying BCH trash. There is no fiat involved. This is why market cap measured in fiat is the same.


Spot on, and this is why it is being done on a weekend. No funds can get through till Monday, so they are hoping that the incoming funds see the BCH ATH and try to get in on it. Thing is, I'd say they're getting this wrong, new funds won't be wanting to buy BCH at ATH, they'll probably be wanting to buy BTC on this dip, like they intended.

This is also why the mempool doesn't matter that much, fiat transfers to exchanges are not hindered by spamming the mempool.