XMR Liquidity Crisis on Fractionally Reserved Exchanges
I took XMRUSD from multiple exchanges, and compared vs Kraken XMRUSD. Why Kraken? Because they have a banking license, and are trying to get a master account at the Fed. They're known for being among the more honest exchanges, and have particularly treated Monero well in the past, by diffusing false regulatory narratives (thanks Jesse Powers!).
This chart is Kraken:XMRUSD, divided by 3 others: Binance, Bitfinex, and Poloniex. These 3 are strongly suspected of price rigging, fractional reserve, and now liquidity problems as a result of selling Monero they don't actually hold. Going on a week, Binance has halted withdraw of Monero to your own personal wallet, along with most other exchanges. Kraken is still good.
So, hypothetically, if these exchanges were suppressing price due to liquidity problems, we might expect to see a divergence where Kraken (who we're assuming is operating honestly), has a higher price than the exchanges doing the suppression. And lo and behold, there it is. Before the big crypto crash happened, the prices on ALL these suspect exchanges diverged significantly, simultaneously showing a lower price for XMR than Kraken.
What does this mean? It's just another indication that these people are fractionally reserved liars and manipulators, who don't want you in Monero; and are experiencing a liquidity crisis. Squeeze the fuck out of them. Price is low anyways. BTFD! *and withdraw your coins to your own wallet!*
This chart is Kraken:XMRUSD, divided by 3 others: Binance, Bitfinex, and Poloniex. These 3 are strongly suspected of price rigging, fractional reserve, and now liquidity problems as a result of selling Monero they don't actually hold. Going on a week, Binance has halted withdraw of Monero to your own personal wallet, along with most other exchanges. Kraken is still good.
So, hypothetically, if these exchanges were suppressing price due to liquidity problems, we might expect to see a divergence where Kraken (who we're assuming is operating honestly), has a higher price than the exchanges doing the suppression. And lo and behold, there it is. Before the big crypto crash happened, the prices on ALL these suspect exchanges diverged significantly, simultaneously showing a lower price for XMR than Kraken.
What does this mean? It's just another indication that these people are fractionally reserved liars and manipulators, who don't want you in Monero; and are experiencing a liquidity crisis. Squeeze the fuck out of them. Price is low anyways. BTFD! *and withdraw your coins to your own wallet!*
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