Plenty of things going on in the space behind closed doors. As we see the price cartel consisting of HTX, Poloniex, Binance and OKX at the core that suppressed Monero prices for nearly 5 years is falling apart.
OKX already delisted Monero resulting in a little price dip. At the same time HTX and Poloniex are insolvent reporting gigantic fake volumes with a none existant order book. Justin's FDT (fiat derivative token) TrueUSD has been depegged for 3 weeks counting.
The last man standing is Binance, but they are entering a new wave of withdrawal problems themselves. Since this was such a huge problem in 2021and 2022 the Monero community created this tracker: https://moneroj.net/withdrawals/
Binance is married to Monero. They had the upper hand for around 4 years but since around 1 year, Monero stopped behaving in the intended way and is now forcing Binance hands. Binance on one hand needs to delist Monero as soon as possible, but on the other can not do it because liabilities would force it straight into publicly known insolvency. They were the first to start the fractional reserve scheme. And while those others could potentially use Binance liquidity (while Binance still tries to keep prices down) this is not an option for Binance as they have been the control center of the cartel.
There is one recommendation: Stay as far away of any CEXs in the next couple of weeks as you can and stack your Monero self-custodialy.
This is a final warning.
Cointest pros & cons with related info are in the collapsed comments below for the following topics: Binance Coin, Monero.
Another Monero shill….
You’re just down 80% against BTC since 2021
Will withdraw my stuff from binance thanks
What basis is there to claim that the exchanges are suppressing Monero prices? What do they stand to gain?
Is it not more reasonable to think that Monero is an intermediary crypto that people use to obtain privacy – i.e. swap to Monero then swap back to their preferred base crypto and they have privacy…. And if that’s the case, that people are not buying to hold Monero, and more supply is created daily, the price is going to stay low??
imo, its a real stretch to think exchanges suppress the price of crypto. They make their profits directly from the trading of crypto, and its in their interests for prices to go up. There’s a reason we usually only see exchanges go bust in bear markets, seldom in bull markets when prices are rising.
the warning at the end is sp00ky :0
Look at the following aggregators:
https://trocador.app
https://kycnot.me
And select any from 100+ various exchange services and methods.
Or better and simpler yet ! Stay away from monero 🙂
But thats not something your shilling family is going to accept.
Release the fud
Yes
Ah yes, our weekly “Monero’s price is being supressed” post. I thought price didn’t matter for Monero?
Every time I say Monero is a shitty investment, people say price is irrelevant for Monero. Then we get posts like this.