The liquidity crisis of xmr on exchanges seems to be real. Here is a brief report of current situation
Please spread the word. I know MMcrypto is one of us. He is a believer and supporter of Monero with a youtube channel of more than 350k suscribers. Load him with tweets, emails… try to let him know and help us spread the word about the XMR situation. Coin Bureau is also a supporter of XMR (957k suscribers). And of course Ricardo Spagni aka Fluffy Pony
I. BINANCE situation:
Binance has been suspending withdrawals for DAYS now. Almost a week! They can’t give a valid explanation and argue it is due to an alleged “network congestion” issue. When contacted by users they don’t give more explanation although the withdrawals are still suspended
When [u/bawdyanarchist](https://www.reddit.com/u/bawdyanarchist/) tried to post about the situation on their reddit it got immediatly deleted:
Here is a post about Binance possible strategies now. It explains that Binance best interest is to either try to drop the price or suspend withdrawals:
“My thesis is that Binance is fucked, they have no Monero in wallets. They have only two ways out. Either the MtGox way, or using all means possible to dump the market so much, that enough people will come to centralized exchanges (all of them) to liquidate their Monero at prices Binance can afford, to be able to close their shorts and save their ass.They blocked XMR withdrawals, to force people to sell at a loss, if they want to get anything out of the exchange (be it fiat or crypto).”
II. CRISIS WIDESPREAD TO OTHER EXCHANGES:
Other exchanges seem to also experience liquidity issues. There are posts about ChangeNow and Kucoin probably much more exchanges involved:
[https://www.reddit.com/r/Monero/comments/ngszn7/kucoin_sucks_dont_even_try_to_trade_or_withdraw/](https://www.reddit.com/r/Monero/comments/ngszn7/kucoin_sucks_dont_even_try_to_trade_or_withdraw/) (he meant xmr)
Audio about common fractional reserve practice on exchanges: [https://comfymetro.com/posts/211](https://comfymetro.com/posts/211)
III. MINING POOLS might become TARGETS BE CAREFUL:
If you are mining be CAREFUL! I bet these guys are coming at your mining pool to either bribe them or steal them at your expense. Think about withdrawing your xmr more often than necessary.
Nicehash mining pool was “hacked”
IV. XMR NAKED shorts are IMPRESSIVE:
Here you can see Bitcoin shorts. As you can see the ratio between hedged and unhedged shorts is 521 to 646, about 80% of hedged shorts. And you can see this ratio exploded when price massively dumped recently. So it is a way to manipulate markets to the DOWN SIDE.
Now let’s have a look at Monero shorts. On 2021-04-16 the ratio was 0.03% (34709 unhedged for 11 hedged). 0.03% !!!
Now it is at 0.01% How long can we accept this?
You are not alone we are the MONERO community and we need to act together to free XMR
Demanding PUBLIC VIEW KEYS from exchanges appears to be mandatory at this point