Binance – The Next Mt. Gox for Monero (XMR)

Binance - The Next Mt. Gox for Monero (XMR)

Binance suppressing Monero Prices – Stop It!

Monero is a private blockchain, tracking volumetric activities on its blockchain is rather very hard if not completely impossible. Exchanges are carrying on some shady and dangerous activities such as offering more Moneros (XMRs) than they actually own in their reserves. This was seen at times, when exchanges such as Binance stopped XMR withdrawal for weeks (because they didn't have it). The reason they provided was "Network congestion" (May 2021). The real reason may be far from that. They lacked Monero liquidity.

Kevin lad in his interview provides "factual reasoning" on how exchanges (esp. Binance) are playing a dangerous game of continuously suppressing Monero pricing. Monero is one of the most mature blockchains out there, with worldwide use, widely adopted in darknet marketplaces – and growing by the day at rapidest pace, most private cryptocurrency, lowest fees, and offers the best private digital currency as we know – it is still where it was back in 2017 ito. its price – something is not right if you think – and you're absolutely right.

Some bad actors - are taking advantage of Monero's design - its private blockchain.

Binance forms close to 20% of daily trading volumes for Monero off all exchanges, and that is already quite a lot. Followed by HitBTC, Bitcoin.com exchange, and OkEx.

Battle for Monero

Battle of the price may not be the first battle but is to become the more important battle for Monero. Monero community with all resources and all its intelligence must do something about it – IT IS HIGH TIME.

Q. What is Monero community doing about this, inspite of facts staring at our face?

[Very Interesting Interview Link]

https://preview.redd.it/tlbdtbbni0p71.png?width=751&format=png&auto=webp&s=d54bdba23a7f804b51222ee5878ccb3cb50aee49

submitted by /u/aFungible
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