I dont believe that is correct.
I think you will find that the lowest sell price will not be the actual traded opening price. I'm pretty sure that an average is taken in this case so you will find that you have buyers bidding right up to higher prices as to get to the top of the list and guarantee a purchase and at the same time, you might have sellers climbing over each other to guarantee a sell. You will find the opening price will be an average of the 2 but I am not 100% sure on how it is worked out.
cheers
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