Unfair trading: why cryptocurrency Grin slipped by 98 percent?
Source:
New private cryptocurrency Grin surrounded himself with not the best news since the first days of its creation. The project is a second practical implementation of the new blockchain MimbleWimble. Co-founder of Primitive Ventures Davie van called Grin «time bomb».
It's All about the huge trading volume of coins that exceeds even its capitalization. Van noticed that some of the centralized crypto currency exchange has opened bids Grin before the time of issue of the first token. In other words, stock exchanges are trying to release non-existent «air».
theFraud in the trading of cryptocurrencies
Turn «virtual» bitcoins real bitcoin simply exchange use fake volumes in trades to open short positions on Bitcoin itself. They can also earn commissions from their customers, because they essentially are non-existent coins Grin.
A few exchanges started trading Grin before the coin is even minted, and some of them have volume > the total available supply.
This reveals a bigger time bomb of centralized exchanges that can print more *BTC* out of thin air with a non-solvent BTC reserve.
— Dovey Wan
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