Fri, Jan 5
The world is full of crypto companies that aim to profit significantly from their users' money, engaging in market manipulation actions to acquire, for example, coins at low prices.
This action is common, and often goes unnoticed because these companies quickly release a new announcement or product contradicting their previous statements, boosting market sentiment and making the previously purchased coins more attractive.
This behavior allows cryptocurrency exchanges to hold large quantities of coins, acting as whales and having a final say in cryptocurrency prices. They profit bilions of dollars from these actions and will continue to do so, regardless of what happens.
So, when I heard that Binance and other exchanges planned to delist private coins like Zcash, claiming they "no longer meet the exchange's listing criteria and exhibit high volatility," I immediately realized they were aiming to increase their holdings of these coins.
The market reacts swiftly to this type of news, causing the prices of these coins to drop substantially. But is what Binance claims true? Let's analyze, for example, the volatility of Zcash.
Regarding Zcash, it remained stable, fluctuating between 30 and 33 dollars per unit in the trading market. The cryptocurrency has always been, so to speak, very stable, indicating that it might not be very valuable in terms of purchasing power, but never, I repeat, volatile enough to justify delisting by exchanges.
While people engage in selling off their coins, exchanges are bagging more and becoming Huge whales in the market
But why was the recent news so overwhelming, and why did people holding Zcash engage in trading it for other coins, especially stablecoins, causing the currency's value to plummet to 24-25 dollars? This provided a good entry point for exchanges to seize a large portion of the ZEC market.
It may seem like a conspiracy theory, but an analysis of the market shows that it is not. Exchanges intentionally make such announcements and observe the erratic behavior of traders, who end up handing over their coins arbitrarily.
I can assert that Binance is the largest holder of Zcash, Monero, and other private coins because it knows that the best way to transfer large amounts without government scrutiny is by using these technologies. They will continue this game to gain even more control over the market, not only the private cryptocurrency market but also areas like gaming, AI, DeFi, and others because they are the future of the crypto market.
To conclude my article, I urge you to analyze before parting with your cryptocurrencies and only then make a decision. Major market players use various techniques to create panic among traders and come out on top. After all, they have the means to buy a significant portion of the market at any time, becoming whales and influencing cryptocurrency prices, earning billions with these moves.
Stay vigilant.
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