Perhaps someone who's more knowledgeable about Steemit's internal exchange can answer this one?
Where are these little micro transactions coming from, and is it just people trying to game the pricing system or are they from something else?
In the picture below you can see that several people had sell orders in for less than the most recently completed buy order listed on the ledger. I even left my open sell order with a time/date stamp and desktop clock visible to further illustrate my point in this picture.
No way I'm buying someone unknowingly spent or accidentally bought 0.21 SDB worth of Steem for more than the lowest ask. I'm also assuming that selling it for more than the lowest ask would be so shady that someone else would have screamed foul by now but the ledger does not show if it was a buy or a sell, it only shows the last price. I'm just curious if this transaction reflects a purchase with bitcoin, a bug, or simply gaming the system to adjust the last price listed?
I honestly don't know what the deal is here and I have crypto exchange experience. I was hoping maybe someone else could shed some light on what was going on in this screenshot when it was taken.
Any insight would be much appreciated...
Further more to clarify without having to edit the original post too much. It was my understanding that Steemit's exchange treated all buy/sell orders as limit orders.
Similar to a stop loss they would trigger regardless of the price entered if someone tried to buy/sell at the price of the order 3 above the high/low it would trigger the lowest ask or highest buy first.
If this isn't the case? Well... The term "market manipulation" is the first to spring to mind.