Gram (GRAM): the slide to $1.16 came from spot trading, not leverage

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: Gram is quoted at $1.25, 7.2 percent below the level of a week ago, after the price was marked down to $1.157 on October 23. What is established is that the spot market carried more turnover than the leveraged market that day; our assessment follows further down.The price of Gram stands at $1.25 on Monday morning. That is 7.2 percent below the level of a week ago, and almost all of the move happened on a single day: on October 23 GRAM fell from $1.33 to $1.157 during trading before steadying at $1.22. The obvious explanation is that leveraged positions were force-closed in sequence and dragged the price down with them. Only half of that is supported by the data. Our own analysis of trading data from the exchange WhiteBIT shows that on exactly that day the spot market carried more turnover than the futures market — even though the reverse was true on six of the nine days examined. Our assessment follows further down; the numbers come first. What happened to the Gram pri...