so why the price surge ?

<a​pplepearshop:matrix.org> Looks like Jump Crypto or Jane Street just picked up Monero. I've seen an employee asking questions in these channels before, so not surprised they'd make a move

<a​pplepearshop:matrix.org> They were trying to buy large amounts OTC - pretty obvious they were looking to corner the market

<a​pplepearshop:matrix.org> "My company does not engage in futures trading. We primarily focus on spot purchases, as we are a conservative hedge fund that exercises caution. We did attempt to buy XMR OTC by contacting Kucoin, Binance, and other centralized exchange providers (CEXes), when it was listed on Binance last year, none of them were able to meet our demands due to liquidity issues and the amount was<clipped message>

<a​pplepearshop:matrix.org> not even that high."

<a​pplepearshop:matrix.org> from #monero-markets:monero.social

<a​pplepearshop:matrix.org> I guess they got forced into buying spot, which is the most accurate info I've found so far after scouring through all the logs. To be honest, nothing else seems to make sense right now

<s​pirobel:kernal.eu> did they ask for your seed phrase 🙂

<f​ullninja:matrix.org> Cake wallet sync forever..........

<f​ullninja:matrix.org> Connection is good tried with different nodes.

<a​pplepearshop:matrix.org> No, it's not recent. I was just reading through logs from last year

<a​pplepearshop:matrix.org> These movements aren't being caused by leverage. It's all spot buys, so some company is buying up big time. Last year, I noticed that one of the employees at a hedge fund or trading firm was hanging around here, and they seemed to know a whole lot more than they should've. I'm convinced they're behind it

<s​pirobel:kernal.eu> you mean this googlemozilla person?

<a​pplepearshop:matrix.org> Yes

So would Bisq Easy -> BTC/XMR swapper a more easy way to get the first Monero? Is it more developed and widely-used than Haveno's no-deposit option?

<x​3cc:nope.chat> matrix.monero.social/_matrix/media/…/nope.chat/EJUkCtGhGiFmoYWVodPfOKWT

<x​3cc:nope.chat> What the fuck just happened over night

<x​3cc:nope.chat> A literally woke up and my net worth is +20%

<x​3cc:nope.chat> Can someone explain what happened

<x​3cc:nope.chat> Maybe I’m still dreaming

<j​effro256:monero.social> The market value of the US dollar dropped against XMR

<a​pplepearshop:matrix.org> Some people believe that the current situation is due to a recent hack of over 300m BTC, where this individual swapped some of their funds into Monero. However, I think it's unlikely because the North Korea hack in the past, which involved over 1b in BTC, had no impact on the price despite emptying most instant exchange reserves. I think a hedge fund is buying up

<a​pplepearshop:matrix.org> x.com/zachxbt/status/1916756932763046273

<h​ardhatter:monero.social> x3cc (extremely autistic & delusional): your whole net worth is in monero ?

<x​3cc:nope.chat> Yes man I bet for monero

<x​3cc:nope.chat> Yes man I bet on monero

<x​3cc:nope.chat> matrix.monero.social/_matrix/media/…/nope.chat/APrQjAZrxYBubkQCYiysvkZG

<x​3cc:nope.chat> I think it’s not the dollar issue, other currencies dropped against xmr too

<x​3cc:nope.chat> So lazarus didn’t swap their stolen eth to xmr previously? Because price should be increased too

<a​remor:matrix.org> exch didn’t exist now and they were a huge price suppressor

<a​pplepearshop:matrix.org> Lazarus emptied all the reserves, which included exch, totaling thousands of XMR. This led me to question whether the hack was solely the cause. They also triggered multiple withdrawal restrictions from MEXC

<x​3cc:nope.chat> Yes I remember, but price didn’t change in that time

<x​3cc:nope.chat> Why do you think it changed now?

<a​pplepearshop:matrix.org> I don't think a $300m hack would be enough to trigger a price movement of this magnitude, considering you can't swap such a large amount without potentially triggering KYC checks. It just doesn't make sense

<x​3cc:nope.chat> Yea something is really going on

<a​remor:matrix.org> Exch was a price suppressor. That doesn’t exist now

<x​3cc:nope.chat> In hope now stable price of monero if 300+ 🙏😇

<a​pplepearshop:matrix.org> I don't think the hack was the cause. In my opinion, I believe it was due to a specific hedge fund, but I could be wrong. To be honest, no one really knows for sure

<x​3cc:nope.chat> In hope now stable price of monero is 300+ 🙏😇

<a​pplepearshop:matrix.org> How? Exch accused Binance and other centralized exchanges of suppressing the price

<a​remor:matrix.org> Exch literally had locked prices

<a​remor:matrix.org> So you could buy millions on there and not move the market

<m​onerobull:matrix.org> they still have at least 100M

<a​pplepearshop:matrix.org> Okay, so let's consider how using any other instant exchange would move the market. If you trade large amounts on Changelly or another similar service, it will typically lock your Monero and request KYC information. In reality, no instant exchange can handle such high volumes without implementing KYC checks. If a hacker were to use an exchange to swap Bitcoin for Monero, they woul<clipped message>

<a​pplepearshop:matrix.org> d likely only be able to lock the Bitcoin side of the transaction, and nothing else would happen

<a​pplepearshop:matrix.org> I don't believe it's even possible to exchange $200M without KYC checks. Currently, there are no reputable Monero decentralized exchanges that allow for such large transactions. Using fake KYC information is not a viable option, as the process typically involves contacting support and undergoing a lengthy review process that can take weeks or months, not just hours. I don't think it's credible

<m​onerobull:matrix.org> id just wait for serai if i was them

<a​remor:matrix.org> /s

<a​remor:matrix.org> And when is that?

<m​onerobull:matrix.org> probably ready to take that amount of volume within a yaer

<m​onerobull:matrix.org> probably ready to take that amount of volume within a year

<m​onerobull:matrix.org> but if you sit on 300M in dirty bitcoin, i dont think waiting a bit is a bit deal

<m​onerobull:matrix.org> but if you sit on 300M in dirty bitcoin, i dont think waiting a bit is a big deal

<a​pplepearshop:matrix.org> 2027

<a​remor:matrix.org> Who says it would all be 1 swap? Or even could tell it’s coming from the same entity?

<m​onerobull:matrix.org> they are talking about in general

<m​odul8:matrix.org> i would have bought 300 million with of mullvad vpn with that money, just for fun.

<m​onerobull:matrix.org> the entire instant swapper world can probably not support that much xmr

<m​onerobull:matrix.org> the entire instant swapper world can probably not support selling that much xmr

<a​remor:matrix.org> Don’t they publish their volumes & capacities? No reason to guess

<a​pplepearshop:matrix.org> It doesn't matter how many swaps you split it into. No instant exchange can handle this much XMR, and they will not blindly buy XMR from exchanges without locking the BTC side of the trade. If you look at Reddit, there are numerous instances where people tried exchanging low 6 figures, and the trades got locked for months. It makes little sense, and Zachxbt is providing no useful <clipped message>

<a​pplepearshop:matrix.org> information. He's simply saying that the hacker might have used more than 6+ swappers. I call lies

<a​remor:matrix.org> It doesn’t get more legible than a btc address

<a​pplepearshop:matrix.org> I'm currently investigating the address

<m​onerobull:matrix.org> lmao

<m​onerobull:matrix.org> the hacker has a pending tx thats been stuck for an hour now

<m​onerobull:matrix.org> because no bitcoin blocks

<k​evino:tchncs.de> how much bitcoin is in that transaction?