Quite the drop in the last 24 hours but does anyone know why?
Price Talk
What's happening to the Monero price?
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The sell presure on https://app.wagyu.xyz/trade?market=XMR/USDC is crazy! Wonder why everyone is selling
it is not real XMR on wagyu, it is paper XMR. They can sell it without having ever owned real XMR.
Coincidentally, wagyu swaps are reported to be very slow at the moment. I think they have exhausted their real XMR stores, and are having to source more whenever someone requests a withdrawl or swap.
Wagyu is connected to hyperliquid which appears to be at least supported by JP Morgan. Perhaps they are behind the attempted price suppression.