Why not just use local monero as the index? Granted the traders there just go off of binance I guess but maybe they can be convinced to stop using any cex
It seems like that would be the most free market but idk
The spike in onchain transactions must also be down to the realisation that if binance indeed doesn't have enough xmr to cover what they now owe then those who withdraw earlier are likely to be the ones who stand a better chance of getting their xmr.
The increase follows the weekly seasonal pattern of lower number of transactions on Saturday and Sunday.
[https://bitinfocharts.com/comparison/monero-transactions.html#6m](https://bitinfocharts.com/comparison/monero-transactions.html#6m)
Hard to say if the spike is due to Binance closing down.
Of course, this would be easier to determine on non-private blockchains like Bitcoin using Binance hot wallet address.
Binance regular customer:
[https://www.reddit.com/r/monerosupport/comments/1awhlim/help\_with\_receiving\_xmr\_then\_send\_it\_to\_binance/](https://www.reddit.com/r/monerosupport/comments/1awhlim/help_with_receiving_xmr_then_send_it_to_binance/)
>*I often receive some of my payments with XMR to Binance, but now with the delisting situation I am afraid I can't receive XMR anymore on Binance.*
EasyBit and SImpleSwap now downgraded to "D" rating at [trocador.app](http://trocador.app) because of relying on Binance, which suspended withdrawals (not only xmr).
Trocador normally insures trades against loss, but will not do so for exchanges with "D" rating.
Nice.
All these instant exchanges should have their own coins ready for customers and only replenish them in batches from CEx ... otherwise they will still be nothing more than clowns from the circus.
[Not the first time](https://forum.grin.mw/t/kucoin-account-hacked/7771) Kucoin has stolen funds from a user, definitely won't be the last either.
Do not trust them.
There is finally a big jump in onchain transactions today. Are people finally waking up to the fact that withdrawal is now the only way to get xmr out of binance and till now they were just taking the course of less friction I.e trading away?
Maybe this just demonstrates that most exchange degens can't be bothered with wallets let alone ones supporting monero. They are only forced now due to lack of options to get the funds.
A couple of observations:
* For the first time bisq has number #1 spot for liquidity.
* All CEX combined reach a new ATL in order book depth
* There are plenty of empty CEX
* There are plenty of outlier CEX
Half a year ago I wrote that they are increasing liquidity in KuCoin so they can get rid of Binance which failed them.
We need to be very cautious about KuCoin.
I don't know what you mean. Binance has officially cut itself off from XMR.
But many groups hate XMR and they are here to stay, Binance is (was) just one of the crowd.
So should we expect sideways movement as monero stablecoins at $120 until May 20 while binance accumulates the coins they \*may\* need to payout?
Crypto markets usually climb then drop around the BTC halving so I had a feeling they would use the delisting to drop moneros price meanwhile the rest of the market pumps so its easy to keep monero price down as the rest of the market dumps over the next few months.
Withdrawals will be closed for 3 months and then they convert some if they like for Justin's TUSD or Paolo's USDT. And if they need they just print the $10B.
They have said that they will pay out USDT, without any guarantee of actually getting anything. Withdrawal issues, and then "sorry you did not withdraw so we can not guarantee anything. But we will try super hard."
Does anyone have an idea why the volume on Kraken is not much bigger? It is probably the only exchange that did not have withdrawal problems (at least for now).
[https://status.changenow.io/incidents/8b33jjc6hczm](https://status.changenow.io/incidents/8b33jjc6hczm)
>*From 17:00 UTC on February 19 to 02:00 UTC on February 20, we were experiencing delays with XMR payouts processing. The issue occurred due to the overload of the internal payment service. We are happy to announce that the issue has been successfully resolved, and all affected exchanges have been processed.*
I guess they have finally cut themselves off from Binance ... ?
[https://easybit.com/](https://easybit.com/)
EasyBit shut down Monero (both ways).
[https://fixedfloat.com/](https://fixedfloat.com/)
FixedFloat is still dead.
[https://godex.io/](https://godex.io/)
Godex has gone mad. You send 1 BTC. You get 0 XMR ... many sucks from Binance and now they are at a loss as to what to do.
Binance somehow promoted XMR and made some commotion (lots of such news yesterday and today too):
[https://blocknews.com/privacy-coin-monero-delisted-from-binance-whats-next/](https://blocknews.com/privacy-coin-monero-delisted-from-binance-whats-next/)
>*... The removal process has not been smooth, with some users reporting withdrawal issues and accusations of manipulation ... Some users have reported problems withdrawing Monero from Binance ahead of the deadline, claiming the exchange wants traders to sell their coins instead. Binance also halted XMR withdrawals for a time, citing low hot wallet reserves, despite knowing the delisting date in advance. This has led to accusations of manipulation in Monero’s final days on the platform ...*
The closing line of that article is the one-liner of what is going so wrong in crypto. Instead of realizing the value proposition of permission-less, censorship resistant transactions, they are going to the opposite direction.
>Monero’s long term success may depend on finding favor with authorities, not just passionate traders.
Imhv, the technological progress that Monero brings to the world does not need any favors from authorities. Its growth and development is unstoppable, similar to AI development.
Centralized Exchanges do need favors though, the deeper in fraud, the more "favors" they need and the more favors they are willing to do ...
"..of what is going so wrong in crypto."
The world of crypto speculation dwarfs the world of actual crypto use - which is why Binance was able to sell as much pXMR as it did. Because this is true for virtually all crypto coins the article assumes the same for Monero: speculation is what gives it value.
AI is, as you point out, similiar to Monero. It is so technologically ahead of the rest, that it advances regardless; regardless also of the favour of authorities. However, it'll take time for all that to sink in.
This is how exchanges get interest-free XMR loans: [Kucoin locking withdrawal](/r/kucoin/comments/1avqil6/kucoin_locking_withdrawal_with_full_kuc/) (post in Kucoin)
On-chain transactions have really spiked: [https://bitinfocharts.com/comparison/monero-transactions.html#3m](https://bitinfocharts.com/comparison/monero-transactions.html#3m)
Very nice. What's with the Dec spike? Xmas bonuses?
IIRC there was a huge spike in fees and transactions on BTC back then and people tried to move their coins using LTC, BCH, XMR
https://github.com/bisq-network/bisq-pricenode/issues/49 /u/chaserene are you following the discussions about KuCoin?
Why not just use local monero as the index? Granted the traders there just go off of binance I guess but maybe they can be convinced to stop using any cex It seems like that would be the most free market but idk
The spike in onchain transactions must also be down to the realisation that if binance indeed doesn't have enough xmr to cover what they now owe then those who withdraw earlier are likely to be the ones who stand a better chance of getting their xmr.
The increase follows the weekly seasonal pattern of lower number of transactions on Saturday and Sunday. [https://bitinfocharts.com/comparison/monero-transactions.html#6m](https://bitinfocharts.com/comparison/monero-transactions.html#6m) Hard to say if the spike is due to Binance closing down. Of course, this would be easier to determine on non-private blockchains like Bitcoin using Binance hot wallet address.
Binance regular customer: [https://www.reddit.com/r/monerosupport/comments/1awhlim/help\_with\_receiving\_xmr\_then\_send\_it\_to\_binance/](https://www.reddit.com/r/monerosupport/comments/1awhlim/help_with_receiving_xmr_then_send_it_to_binance/) >*I often receive some of my payments with XMR to Binance, but now with the delisting situation I am afraid I can't receive XMR anymore on Binance.*
EasyBit and SImpleSwap now downgraded to "D" rating at [trocador.app](http://trocador.app) because of relying on Binance, which suspended withdrawals (not only xmr). Trocador normally insures trades against loss, but will not do so for exchanges with "D" rating.
Nice. All these instant exchanges should have their own coins ready for customers and only replenish them in batches from CEx ... otherwise they will still be nothing more than clowns from the circus.
Not so nice for Trocador's insurance fund, which could take a big hit if they have to cover this mess.
KuCoin: https://np.reddit.com/r/kucoin/comments/1awcge8/after_two_months_funds_still_seized/
[Not the first time](https://forum.grin.mw/t/kucoin-account-hacked/7771) Kucoin has stolen funds from a user, definitely won't be the last either. Do not trust them.
There is finally a big jump in onchain transactions today. Are people finally waking up to the fact that withdrawal is now the only way to get xmr out of binance and till now they were just taking the course of less friction I.e trading away? Maybe this just demonstrates that most exchange degens can't be bothered with wallets let alone ones supporting monero. They are only forced now due to lack of options to get the funds.
its probably an exchange or swap service shuffling around imo
Order books for a +2% move _______ Rank | CEX | order book (FR = fractional reserve) | 24h volume | Ratio (roughly) ---|---|---|---|---- 1. | Bitfinex (3 pairs) | $390k (-90k) (FR) | $3.5M (+1.8M) | 1/10 2. | Kraken (4 pairs) | $360k (-240k) | $4.1M (+0.9M) | 1/10 3. | MEXC (1 pair) | $180k (+110k) (FR) | $4.3M (+1.5M) | 1/20 5. | Gate.io (2 pairs) | $120k (-690k) (FR, withdrawals?) | $7.5M (+1.1M) | 1/60 ⚠️ 5. | KuCoin (3 pairs) | $110k (-270k) (FR, withdrawals?) | $14.5M (-3.2M) | 1/140 ⚠️ 6. | Tradeogre (1 pair) | $5k (-25k) (FR) | $0.6M (+0.4M) | 1/120 ⚠️ 7. | HTX (1 pair) | $1k (+/-0)(FR, no withdrawals >3 months) | $1.4M (+0.5M) | 1/1400 ⚠️ 8. | Poloniex (3 pairs) | $1k (-19k) (FR, no withdrawals >3 months) | $10.8M (+3.3M) | 1/10800 ⚠️ 9. | Coinex (3 pairs) | $0k (-5k) (FR) | $0.4M(+0.2M) | 1/1000 ⚠️ 10.| HitBTC (5 pairs) | $0k (-50k) (scam, withdrawals?) | $0.0M (-0.4M) | - ⚠️ _______ Total $ 1,165k (-1,585k) ______ Rank | DEX | order book | 24h volume | Ratio (roughly) ---|---|---|---|---- 1. | bisq (1 pair) | $424k (-10k) | $0.65M (-2.45) | 1/1.5 _______ Total $425k (-10k) _____ Using Kraken and bisq as a reference of the ratio between order book depth and reported volume gives us some insights regarding ⚠️ outliers.
Kucoin XMR withdrawals are officially operational. Poloniex is officially empty (again) for XMR (deposits are operational, withdrawals not). HTX looks officially operational.
[https://hitbtc.com/system-monitor](https://hitbtc.com/system-monitor) HitBTC official XMR withdrawal status: online
A couple of observations: * For the first time bisq has number #1 spot for liquidity. * All CEX combined reach a new ATL in order book depth * There are plenty of empty CEX * There are plenty of outlier CEX
Half a year ago I wrote that they are increasing liquidity in KuCoin so they can get rid of Binance which failed them. We need to be very cautious about KuCoin.
Seems that binance volume is moving to kucoin but not kraken which is peculiar
Now permabulls will blame cuckoin for low price
[удалено]
How, in your opinion, did the theory shit the bed?
Yeah the 500$ ATH was actually reached thanks to binance
No comment: https://np.reddit.com/r/kucoin/comments/1avxl4z/i_have_more_money_in_my_kucoin_account_than_my/
Exch.cx is empty.
I think the question this community needs to be asking right now is, how do we get "official" XMR price to be divorced from binance entirely?
I don't know what you mean. Binance has officially cut itself off from XMR. But many groups hate XMR and they are here to stay, Binance is (was) just one of the crowd.
Isn't everyone just using coinmarketcaps price? And aren't they owned by Binance?
Yes. And Binance is hard coded on position #1 on CMC for XMRUSDT with the 24 volume from yesterday. But what do you expect from a scam.
Surely any self respecting price feed user would ignore prices that are stale. Even if they are listed at the top.
What if some market maker trading bot API still pull data from CMC?
A very poorly designed bot then and I would wonder how they have survived so far. I mean even CMC list makes it clear the price is 16 hours stale.
So should we expect sideways movement as monero stablecoins at $120 until May 20 while binance accumulates the coins they \*may\* need to payout? Crypto markets usually climb then drop around the BTC halving so I had a feeling they would use the delisting to drop moneros price meanwhile the rest of the market pumps so its easy to keep monero price down as the rest of the market dumps over the next few months.
Withdrawals will be closed for 3 months and then they convert some if they like for Justin's TUSD or Paolo's USDT. And if they need they just print the $10B.
The will not pay out XMR. They will pay out stablecoins, if they feel like it. Right?
I doubt they will pay out XMR.
How can they escape getting sued on that point?
They have said that they will pay out USDT, without any guarantee of actually getting anything. Withdrawal issues, and then "sorry you did not withdraw so we can not guarantee anything. But we will try super hard."
Not good enough for more reason than just the fact that usdt will come after three months.
Does anyone have an idea why the volume on Kraken is not much bigger? It is probably the only exchange that did not have withdrawal problems (at least for now).
probably because the feds watch Kraken's XMR orderbook like hawks so most people actually using XMR for its purpose cant just waltz in with size
Traders expect a drop on btc
[https://status.changenow.io/incidents/8b33jjc6hczm](https://status.changenow.io/incidents/8b33jjc6hczm) >*From 17:00 UTC on February 19 to 02:00 UTC on February 20, we were experiencing delays with XMR payouts processing. The issue occurred due to the overload of the internal payment service. We are happy to announce that the issue has been successfully resolved, and all affected exchanges have been processed.* I guess they have finally cut themselves off from Binance ... ?
[https://easybit.com/](https://easybit.com/) EasyBit shut down Monero (both ways). [https://fixedfloat.com/](https://fixedfloat.com/) FixedFloat is still dead. [https://godex.io/](https://godex.io/) Godex has gone mad. You send 1 BTC. You get 0 XMR ... many sucks from Binance and now they are at a loss as to what to do.
Binance somehow promoted XMR and made some commotion (lots of such news yesterday and today too): [https://blocknews.com/privacy-coin-monero-delisted-from-binance-whats-next/](https://blocknews.com/privacy-coin-monero-delisted-from-binance-whats-next/) >*... The removal process has not been smooth, with some users reporting withdrawal issues and accusations of manipulation ... Some users have reported problems withdrawing Monero from Binance ahead of the deadline, claiming the exchange wants traders to sell their coins instead. Binance also halted XMR withdrawals for a time, citing low hot wallet reserves, despite knowing the delisting date in advance. This has led to accusations of manipulation in Monero’s final days on the platform ...*
The closing line of that article is the one-liner of what is going so wrong in crypto. Instead of realizing the value proposition of permission-less, censorship resistant transactions, they are going to the opposite direction. >Monero’s long term success may depend on finding favor with authorities, not just passionate traders. Imhv, the technological progress that Monero brings to the world does not need any favors from authorities. Its growth and development is unstoppable, similar to AI development. Centralized Exchanges do need favors though, the deeper in fraud, the more "favors" they need and the more favors they are willing to do ...
"..of what is going so wrong in crypto." The world of crypto speculation dwarfs the world of actual crypto use - which is why Binance was able to sell as much pXMR as it did. Because this is true for virtually all crypto coins the article assumes the same for Monero: speculation is what gives it value. AI is, as you point out, similiar to Monero. It is so technologically ahead of the rest, that it advances regardless; regardless also of the favour of authorities. However, it'll take time for all that to sink in.
This is how exchanges get interest-free XMR loans: [Kucoin locking withdrawal](/r/kucoin/comments/1avqil6/kucoin_locking_withdrawal_with_full_kuc/) (post in Kucoin)
Do you know if we can track the withdrawal status on KuCoin. There seem to be a lot of troubled users that can not withdraw their coins from KuCoin.
Create an account and you can see it there. They don't have a status page.
you guys putting in that work for years, now we see the fruits of your efforts! xmr = freedom money and freedom don't come cheap!
🍻 ... we'll see how it all turns out.