this post was submitted on 06 Aug 2024
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Monero

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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

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Why Monero is uniquely immune to the Collapse (simplifiedprivacy.com)
submitted 3 months ago by SummerBreeze@monero.town to c/monero@monero.town
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Today Monero is listed as a front-page trending coin on Coinmarketcap

But it isn't rising that much ($148.81 from the low of $137), it's just that it didn't collapse with coins primarily traded on centralized exchanges. Monero's attitude of "use it" over hodl & leverage keeps it stable.

And special to this situation, as I've written about earlier, this entire collapse is triggered by Japanese yen carry trades. Monero's history of being banned from the Japanese exchanges, makes it so that very few people long XMR/JPY on leverage

https://simplifiedprivacy.com/Monero-Japenese-Yen/index.html

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[–] OWO_I_OWO@lemm.ee 3 points 3 months ago

Cakewallet led me to scammers :( Blaming my own stupidity afterwards but still ...