My suspicion is that a smart investor has been watching this project and was waiting for the right time to jump in
Lots of people probably, also judging by the volume on Litebit.eu.
But there was also some ol' fashioned price manipulation going on. You could see the small orders be placed with consecutively higher bid prices, to try and establish a higher bid price.
Then again, I guess these kind of tactics only work if those bids don't get absorbed by sellers.
