Poloniex Exchange & Cryptocurrency Market Manipulation
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Why is XDN DigitalNote Delisted from Poloniex?
XDN DigitalNote Community Members keep asking this question, why is xdn digitalnote delisted from Poloniex, the cryptocurrency exchange platform.
After conducting some research on this particular matter, we briefly summarise our findings here.
dNote, the cryptocurrency developer has presented a number of facts regarding this matter on December 20, 2016. Stating the following:
XDN deposits on Poloniex were “frozen” with no explicable reason and with no explanation for about 2 months.
XDN deposits were frozen by Poloniex admins determination with NO technical reason behind that decision.
- There were NO changes in XDN API in that period if Poloniex successfully processed XDN deposits before October 2016,
- There was NO reason to stop it in October.
- XDN Seed nodes count is always more than 5 and Poloniex has a long XDN peerlist from any XDN version they used.
There was ONLY Poloniex XDN service interruption. For almost 2 months.
There were NO service interruptions in other XDN exchanges in that period: HitBTC.com and Bittrex.com
First signs of the upcoming XDN Poloniex pump. October 10, 2016. Volume up x7 times. Price range 21-22 satoshi.
Deposits were frozen.
October 17, 2016. A Massive XDN pumps with frozen deposits. Volume up >x200 times. Price range 31-43 satoshi.
Only Poloniex pump, NOT other exchanges. Deposits were frozen.
November 12, 2016. Poloniex deposits reactivated after the major XDN merged mining update.
There were NO XDN API changes.
Poloniex exchange & semi-fraud delisting policy. Users can never see their coins
- Poloniex compromised itself with their coins delisting policy and scam-alike activity when dozens of people are affected by Poloniex coins delisting policy and when Poloniex users can’t withdraw their coins.
- There is NO reason to delist XDN from Poloniex except scare.
- Volume is NOT the reason to delist.
- There is NO reason to delist XDN from Poloniex except scare. Part 2.
- Network security is NOT the reason to delist. XDN network is much more secure now, after the recently merged mining update.
- Poloniex usually announces their delistings “suddenly overnight”. Causing and possibly provoking a huge coin dumps on different coins.
- There were never nor delisting reason explaining nor appealing to the community or devs. for (nonexistent) reason resolution.
- There can’t be a confidence that all the users will catch the time to withdraw their coins.
- There were a number of reports by users who suffered from Poloniex delisting policy and will never see their coin again.
- Poloniex delistings are pretty frequent and usually, affect the actively trading markets.
- Poloniex delistings are frequently associated with massive dumps. Like you see now in this coins after the recent Poloniex announce
- On January 4th 2017, the following markets will be delisted: MMNXT, BITCNY, NBT, DIEM, LTBC, RDD, XST, XCN, XDN, SYNC, CGA, GEO, BLOCK, 1CR
Poloniex exchange can be involvement in cryptocurrency insight trading
- Poloniex is very loyal to the XMR.
- XMR suddenly became a basic cryptocurrency on Poloniex. Not Ethereum.
- XMR suddenly became a basic cryptocurrency on Poloniex. Not Ethereum.
- There is NO reason to delist XDN from Poloniex except scare. Part 3.
- XDN is one of the main XMR competitors. Many of XDN features are more progressive than XMR features.
- Recent XDN update made XDN much more secure, the upcoming PoA will elevate XDN security above XMR.
Conclusions
Poloniex usually has no reasons to delist coins except the possibility of Poloniex involvement in cryptocurrency market manipulation, cryptocurrency insight trading, pump-and-dump schemes, sometimes even holding users coins.
The recent announce of XDN delist probably is a part of another cryptocurrency market manipulation, cryptocurrency insight trading, pump-and-dump scheme and may be related to Poloniex-XMR abnormal loyalty and the fact that XDN is one of the main XMR competitors now and especially in future. XMR-Poloniex holders are scared.
I still trade other cryptos on Poloniex but honestly they are getting too big for their own good. The liquidity is nice but they could still have excellent liquidity with even half their size. We need more reputable exchanges that people trust to spread out the crypto market. I can confirm that Polo does NOT return all of their users funds after they delist coins. I still have at least 10K XDN in Poloniex and they just don’t respond to my tickets.
I also think that poloniex has privilege xmr to the detriment of xdn. It is time to reverse the trend by showing that xdn is greater than xmr. :).
I also have 330k of xdn blocked on poloniex and no answer for 10 days….
thx for this article
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Poloniex is going to close in the following years and be replaced by decentralized exchanges.
That’s very true it’s ironic we trade decentralised coin on centralised exchanges.
XDN is somebody’s play-thing. The movement of XDN stagnated for an entire month. By no means am I a holder of a large amount of XDN, and far below the amounts typically seen on the order books.
I first contacted Bittrex and asked about wallets in which to store my XDN since the one provided by XDN won’t sync and therefore can’t be used. The volume of trading finally reached a low 5 bitcoin and i liquidated my XDN into something far more under the control of actual market-forces.
Suddenly, the price shoots back up to over my earlier buying price.
It amazes me that someone would go through so much trouble just to relieve another of a few hundred dollars worth of XDN.
I guess if I had waited for a response from Bittrex before I liquidated, I would be riding high on that surge of XDN today. But, i’m a very skeptical person, and I just don’t believe that was ever likely to happen with anybody except the guys and gals pulling the XDN strings.
Enjoy that bottle of Dom.
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