1 reviews | Active since Nov 2024
Luno is fixing and or manipulating their exchanges.
Luno is fixing and or manipulating their exchanges. I have specifically noticed this recently on the XRP exchange in the past few days since the price have been going up. They artificially keep the prices below the international market prices to prevent orders from filling. They call this dynamic pricing that takes into account the exchange rate of your currency and the actual international market price of the crypto i.e. XRP. Compared to a much smaller competitor like VALR where their exchange prices move almost in tandem with international markets. This is a serious warning sign to traders and investors of a potential lack of liquidity on their platform and/or dubious practices to prevent high value orders from being filled so as to limit the impact on their liquidity.
I would not be surprised if the company is not profitable at this moment, big red flag for anyone trying to make use of their services. Use their services at your own peril, always remember the golden rule in crypto: NOT YOUR KEYS NOT YOUR COINS! Take your coins off these exchanges before they run insolvent due to a liquidity crunch! Best is a ledger for cold storage
