Hello
the Indian Exchange Platform Zebpay released some panic selling in india.
the Indian Exchange Platform Zebpay released some panic selling in india.
This one is true, in INDIA. Not anywhere else.
With over 3 Million client, the exchange platform announced to stop deposits and withdrwawals to rupi and usd due to regulations.
This screenshot was supposedly taken at the moment of the announce.
So if Zebpay with 8 million trade has 3 million clients, it must mean that Okex has about 500 million users
Zebay had 0 influence on the price, for such a small exchange to trigger a nearly 1k drop is impossible.
Besides, from their own website:
Quote
Q) Why did you make the announcement now, and not wait till the last date?
A) We issued multiple warnings after RBI issued the circular on 6 April 2018. The primary purpose was to inform our customers of the risks they face. There can always be issues that can arise out of everyone rushing to sell crypto, or withdraw rupees at the same time quite close to the last date. Since we are now close to the three-month deadline mentioned in the RBI circular, we wanted customers to have enough time to receive the announcement and make a decision.
A) We issued multiple warnings after RBI issued the circular on 6 April 2018. The primary purpose was to inform our customers of the risks they face. There can always be issues that can arise out of everyone rushing to sell crypto, or withdraw rupees at the same time quite close to the last date. Since we are now close to the three-month deadline mentioned in the RBI circular, we wanted customers to have enough time to receive the announcement and make a decision.