Sunday 26 October 2014

PLEX Prices Break the 800 Million Barrier

I've been watching the PLEX market fairly closely since it hit about 750 million. There's plenty of speculation, hoarding and manipulation distorting the picture but the main thing I noticed was there seemed to be a point of resistance at just under 800 million. Call it a barrier, plateau or whatever, but we reached that price point around July of this year.

Speculators, hoarders and manipulators kept trying to push the price over 800 million but whenever it got much over 790 million daily volume would drop and the price would come right back down again. Then suddenly around the middle of October, some of those large blocking orders (big time manipulation) I've mentioned before got raised to 800 mil plus.

Since then the price has gone well over 800 million and so far it's stayed there, however volume has gone down too. It'll be interesting to see what happens next.

Will whoever's responsible for the blocking orders (I suspect the new Somer clone gambling/RMT sites) run out of cash to keep the price propped up?

Will real demand (consumers actually buying PLEX to use rather than for resale, hoarding or speculation) go down as long as prices remain high?

If prices remain high will demand remain down or will there be a resurgence in demand with prices continuing to rise until they hit the next point of resistance?

Edit: fixed some typos, PLEX prices are in the millions, not billions.


  1. There is a chance that CCP is running out of confiscated Plex to sell. The one thing they can not do is create new Plex to sell - if they do then they would have to account for that as a marketing expense in their Accounts. They can of course create ISK to buy the Plex - no harm in that.

    In other words, CCP can force the price up but has limited ability to force the price down.

    1. Also, CCP have stated in the past that they don't try and control the PLEX price at a certain point. They only try to control for extreme spikes.

  2. Blocking orders, nice term, I use them on all my markets.