this post was submitted on 22 Sep 2023

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Could the price be so stable because of a gigantic whale? (monero.town)

submitted 1 year ago by MoneroLover1@monero.town to c/monero@monero.town

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Maybe the xmr price is stable because some whale(s) sell the right amount at the right time, balancing supply to the present demand.

BTC wasn't stable when it was "the only coin used as an actual currency" way back in time

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[–] shortwavesurfer@monero.town 1 points 1 year ago (2 children)

So when the price breaks say $170 they sell until it comes down? When the price drops below say $135 they swoop in and buy? I don't know much about this sort of thing, but how much would it even take to move the price by n%? Would it just be Marketcap*0.n would get you how much to buy/sell to move the price that much?

[–] MoneroLover1@monero.town 1 points 1 year ago

I don't know, just a fun conspiracy theory 😀

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