It’s been really low volume trading in NuShares the past couple weeks The chart below is just this past week from Poloniex, which starts off with the lowest price since the string of exchange hacks. Due to low volume, you can pretty much throw any trend analysis out the window, I believe. My personal opinion is that the price is too low for any willing sellers, and buyers are holding back in case any late sellers did show up.
4H Candles 1W Zoom
After the Nu source code was released, we saw a large spike from a market buy. About 750k NSR were bought. Shortly after the buy orders were filled, a trader placed many small sell orders (300-400 NSR) until the price spread was down near 1300 satoshis again. Then another large buy occurred and bought up the sell side for about 450k NSR.
Maybe this trader is looking to keep a lid on the price to buy more NSR or the shareholder trading out is putting on his game face, because shortly after this buy 1 million additional NSR made it’s way to the sell side of the order book in the form of closely spaced 25k-50k orders around the 1500 satoshi mark.
