Quote from: TheBlaze on September 12, 2017, 05:31:13 PM

Where the volume is coming from is one of the MaxCoin reboot mysteries. Jubi is the exchange that coinmarketcap.com references for current price and charts and volume for Maxcoin. Jubi (a China exchange) is only open to Chinese citizens reportedly and furthermore it is said that Maxcoin deposit and withdrawal are not functioning. I don't know if that is still the case. It appears that the exchange operators are playing some kind of game. For many months the price of Max on yobit was much lower than Jubi. If Jubi prices and volume were REAL and REAL people were trading Max to such levels (as high as 15 cents while at yobit the price was 2 cents) why didn't these Chinese folks sell Max at Jubi and transfer BTC out to yobit to buy Maxcoin much cheaper. They would have if they actually existed and actually wanted to accumulate Maxcoin. I can't say I know exactly what is going on but the true market price and volume for Maxcoin is what is seen at the Yobit market. To further understand this issue it would be great to find a Mandarin fluent person who is into crypto!

Recently the price at Jubi has been falling reaching equality with Maxcoin at Yobit. Almost appearing as if deposits had opened up allowing arbitrage to correct the prices of the two exchanges. lol but within the last few days Jubi price crashed to like 1/3rd the yobit price (WTF does that mean).

Bottom line I would just ignore Jubi as this situation will sort itself out or resolve eventually. If the Maxcoin community keeps growing and pushing forward the volumes at Yobit (or at another exchange Max gets listed at) will overwhelm Jubi and coinmarketcap will reference the new exchange and the confusion will be gone. Or Jubi will unwind whatever game they are playing...something that appears to be currently underway...

Well the situation did sort it sell out and much quicker than I thought! As part of the China shutdown Maxcoin trading ceased on Jubi exchange. Coinmarketcap now references the Yobit price and volume data in the chart and feed. One thing that I find curious is the google translation for Max closing on Jubi translates as follows,

尊敬的聚币用户：

聚币网将于2017年9月17日晚上24点暂停WDC、MAX、PLC交易，请及时转出至其他平台或钱包。
The grid will be suspended at 24:00 on September 17, 2017 WDC、MAX、PLC Trading, please transfer to other platforms or wallet in time.

There are other shutdown info on Jubi main page so more appears to be happening to trading other than these three coins. Perhaps they are closing a few coins at a time? Also the word suspended is interesting....does that mean this action is temporary? or is the meaning lost in translation hmm

you can see it for yourself here, https://www.jubi.com/gonggao/2913.html

TheBlaze

Posts

Merits