dear fellow friends from dread
i am concerned about the possible delisting of monero on binance and the consequences for the price of monero and general liquidity
binance is a well known exchange for monero and provides 25% of monero liquidity
my question is how the monero price mechanism works
lets say a delisting of monero on binance lowers the offer of monero on the market
if it was only this then the price would rise but i guess the demand is going to break down too
why is the demand going to break down? i think the biggest part of monero volume isnt from anyone really using the coin for daily payments
the monero is being held for investment purposes and lots of them on exchanges and not local wallets
in case of a delisting these are going to be automatically sold by binance and converted to balance or usdt
until another exchange is being able to cover the liquidity being lost on binance due to delisting these investors already moved their money into another coin investment and in the meantime price is going to break down even more
anyone with a better understanding of this situation?
/u/sonic108 · N/A votes · 13th January, 2024 - 12:38 · Link
kucoin still lists monero, people will move, demand is here for monero ;) i dont worry so much
/u/T800X · N/A votes · 13th January, 2024 - 12:44 · Link
can you convert tokens and do p2p on kucoin
/u/privacyfirst · N/A votes · 13th January, 2024 - 12:57 · Link
it will be still available about this i agree huobi provides an even bigger part of the liquidity of xmr than kucoin but isnt the usd/xmr going to be lower? do you really think most investors are going to move to another exchange? most guys i know invest through coinbase in crypto and if a coin isnt listed there they are out these are only small fish with 6 figures usd invested i guess the same applies for lots of users using binance as there primary exchange another question is how well are kucoin and huobi able to continue this service if the usa are going to bully them?
/u/sonic108 · N/A votes · 13th January, 2024 - 12:51 · Link
[removed]
/u/Win10 · N/A votes · 16th January, 2024 - 18:47 · Link
Would this referral link be tied to your real identity by chance, /u/sonic108 ?
/u/footsteps · N/A votes · 13th January, 2024 - 16:31 · Link
Surely scarcity of supply with sustained demand will result in a rise in value?
/u/blackangel · N/A votes · 14th January, 2024 - 00:32 · Link
use kraken pro, best fees
/u/d00rsmash3r · N/A votes · 14th January, 2024 - 11:39 · Link
The price of monero will rise since binance wont be selling paper monero and supressing the price
/u/IcyGrape · N/A votes · 16th January, 2024 - 20:52 · Link
In other news: UN implicates crypto in booming illicit economies of Southeast Asia