It could be a number of things, most likely: 

1. Price not reached: A limit order is set to buy or sell a cryptocurrency at a specific price or better. If the market hasn’t reached your limit price, the order won’t be executed. 

Example: 

The BTC market price is $100,000 and you place a limit buy order at $90,000. Your limit buy order will only be executed when the market price falls to $90,000 or below. If that is yet to happen, the order will remain active, unless cancelled.

2. Insufficient liquidity: If there aren’t enough buyers or sellers at your limit price, your order may not get filled. This is particularly common with lower-volume cryptocurrencies or during times of market stress. 

Example: 

You place a buy order to buy ETH at $3,500. The ETH market price soon hits $3,500, but if there aren’t any sell orders at $3,500, your buy order won’t be executed.  

3. Market volatility: During periods of high volatility, prices can move rapidly, meaning your order may not get to the front of the order book queue before the market moves on, and won’t be executed even if the price reaches your limit level. This is because of the price-time rules that govern the priority of order execution. 

Example: 

The current market price of BTC is $100,000. When you see that the third level on the bid order book is at $90,000, you also place a buy order at $90,000. 30 minutes later, you notice that the historical trade price has dropped to $90,000, but your buy order still hasn’t been filled. This is because counterparties prioritised matching orders with better prices and earlier timestamps before your order when at the same price. However, there weren’t enough counter orders to match your order. 

4. Order size: If your order size is too large compared to the available liquidity at your limit price, only part of your order may be filled, or it might not be filled at all. 

5. Order expiration: If you set a time-in-force parameter (like Good-Till-Cancelled) and the order expires before being filled, it will be canceled automatically. 

6. Market orders taking priority: In some cases, market orders may take priority over limit orders, especially if there is a sudden surge in buying or selling activity. 

 What to do next: 

• Check order status: Review the status of your order on the Pepperstone Crypto platform to see if it’s still open or if it’s been cancelled. 
• Adjust limit price: Consider moving your limit price closer to the current market price if you want to increase the chances of execution.  
• Contact support: If you believe there’s an issue with the exchange itself, get in touch and we’ll get to the bottom of what’s going on.