this post was submitted on 22 Sep 2023

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Monero

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

submitted 1 year ago by [email protected] to c/[email protected]

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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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[–] [email protected] 5 points 1 year ago (1 children)

BTC wasn't stable because people used and speculated on it. Very few people speculate on Monero since "it could be banned any day now" (9 years in lol) and a decent amount of people actually use it.

I would assume less of Moneros OG coins were lost than with bitcoin where the entire concept of crypto was still new so there are probably a few more whales as well as more coins in circulation. That probably also has an effect on our volatility.

[–] [email protected] 2 points 1 year ago

good points!