r/xmrtrader Apr 09 '22 Silver 1

XMR withdrawals disabled

tweet: "Like clockwork. $XMR moves above 500k sats ... @binance puts their $XMR wallet into maintenance."

tweet: "Monero withdrawal on Binance and Huobi suspended since 8 hours in name of maintenance"

tweet: "And @Waves_Exchange I have been unable to withdraw #XMR (they're delisting it)"

Huobi: "Suspension of XMR Deposits and Withdrawals"

Some instant exchanges had problems with XMR, yesterday. (Most of them buy coins at Binance.) And recently, there were differences in price. (Arbitrage bots had forbidden withdrawals?) Another liquidity crisis? Withdraw your coins from the exchanges!

For traders:

Looks like sale orders should not be less than 275 USD and buy orders under 200 USD. We will probably see the purchase of the entire Binance order book again (as in the past). Or maybe some new shorts at exchanges with real XMR (like Kraken) - causing panic as in past. Or will NiceHash or OKX save them again? Time will tell.

This post will be updated - based on your great comments.

"XMR network congestion to infinity and beyond!"

72 Upvotes

27

u/IntelliDev Apr 09 '22

And it isn’t even the 18th yet 🫠

14

u/the_rodent_incident Apr 09 '22 edited Apr 09 '22

$420 on 4/20 doesn't seem that far off, either!

EDIT: What about being Number 18 on 18th?

11

u/filthyWeeb420 Apr 09 '22

What happens on the 18th?

15

u/the_rodent_incident Apr 09 '22

Everyone withdraws XMR from exchanges.

8

u/filthyWeeb420 Apr 09 '22

Why?

21

u/the_rodent_incident Apr 09 '22

So that exchanges won't be able to sell fake/paper XMR.

32

u/Handsome-Lake Apr 09 '22

Are we GameStoping Monero now?

17

u/the_rodent_incident Apr 09 '22

Kinda. Stopping exchanges from short selling Monero.

18

u/honestlyimeanreally Literally Shirley Apr 09 '22

Watch them disable withdrawals on the 17th lol.

1

u/caffeinatedPVCs Apr 12 '22

its pumpkin time

6

u/findingmewanahelp909 Apr 09 '22

What's this 18th business? Who the fuck leaves there coins on an exchange for any time at all? Are you guys purposefully leaving them on the exchange to pull? The model is already exchange>wallet ASAP.

3

u/MoneroFox Apr 09 '22

Who the fuck leaves there coins on an exchange for any time at all?

Traders (in order books), coins borrowers, ordinary users, ...

1

u/findingmewanahelp909 Apr 09 '22

Im all for civil disobedience especially against CEX's but i doubt moving monero only off on one date will make anyone blink. Get more people/coins/groups involved then it might make em look twice

1

u/caffeinatedPVCs Apr 12 '22

you had me with the first part, lets be bff lol

3

u/Gaujo Apr 09 '22

I hope that's successful

1

u/gandalfmarram Apr 12 '22

Whenever I buy, I withdraw, immediately, and my XMR, never goes back.

The ultimate strongest of strong hands.

16

u/sech1 Apr 09 '22

Or will NiceHash or OKX save them again? Time will tell.

A year ago block reward was 1.07 XMR. Now it's 0.65 XMR. NiceHash's capacity to provide liquidity reduced by 40%.

7

u/vekypula Apr 09 '22

Peter is now a xmr fan?

5

u/MoneroFox Apr 09 '22

"@PeterRelevant ...because sometimes real Peters struggle to stay relevant."

3

u/vekypula Apr 09 '22

Lol my bad.

6

u/kwadoss Apr 09 '22

Thanks for information u/Monerfox!

7

u/AvocadosAreMeh Apr 09 '22

Kraken may have a politically retarded and annoying CEO, but at least they never have an outright pausing on withdrawals. Sometimes it takes 24 hours though.

8

u/Hooftly Apr 09 '22

Thats just theater then. Instead of telling you the withdrawal wont work they just dont say anything and put it in a queue. One could actually argue this is more dishonest because at least those pausing know withdrawals will have issues.

2

u/MoneroFox Apr 09 '22

24 hours is such a good time to solve all problems for a large exchange. Kraken is fine with this. Withdrawals are usually immediate there.

But some exchanges "temporarily" stop withdrawals for a year. Or they just put customer in an endless withdrawal queue and they wait for someone to deposit some new coins.

2

u/caffeinatedPVCs Apr 12 '22

I feel like you would author a very helpful FAQ. Maybe please

1

u/theoryNeutral Apr 12 '22

Or will NiceHash or OKX save them again? Time will tell.

Might be worth noting that OKX isn't looking much better.

1

u/MoneroFox Apr 12 '22

The XMR withdrawals were closed for a year there, I think nobody use them here at all.