Tron, XRP and The Dark Side of Crypto Exchanges

good afternoon my name's Richard and this is a quick video from platinum crypto Academy hope everybody's well hope all of you in the UK are enjoying this amazing weather 36 degrees yesterday looking through big records today absolute scorcher so hope you've got time a few computers and watching your block for holy-o's to enjoy the weather but without getting caught up in all that there's been some absolute news in the crypto space this week from Tron ripple BitFenix and I wanted today to talk about the controversial side of crypto exchanges you know I like to put in there a bit of a thought-provoking section of the video so anyway without further ado let's get stuck in so the first thing I want to talk about however is we release blogs once twice a week we do a couple of videos each week but this week I wanted to really focus on the blog that we've put out there it's for all you beginners out there that haven't really been in the market for very long that want to understand the different ways in which we can or you can make money in the crypto space so obviously being from platinum crypto Academy we're looking to help all our members and followers to understand the different ways so we cover mining we cover staking we cover how you know basic trading and the hotlink approach using browsers like brave browser like I am today looking at I SEOs ayios stos understanding the differences and what that involves and anyway if there's even there's more information to be discussed but if you want to start here if you have any questions just get in touch we're in a trading Academy we're looking to help all types of retail traders and investors in the space do better in the markets we've been doing it for four years we've been running an FX and commodities Trading Academy for last nine years so we think we know what we're doing so get in touch if you need any help so without further ado please like to subscribe the video but let's get into some of the other news that we've come across this week the first thing I'd like to talk about is ripple now I didn't know about this back in quarter two but they sold all apparently a lot of XRP to institutions 251 million dollars worth so you know ripple and I mentioned it in my last video I think it was to do with the Bank of America signing a patent well this time there's a bit of news that came out yesterday that's in court or two they've been sailing hunt literally hundreds of millions to institutions so again all you bag holders every single week there seems to be something positive for recent times coming out of ripple so you know might be worth looking at adding it to your portfolio if you haven't got it got any already while the prices are where they are as you can see up three percent it looks like according to this today but anyway let's move on this next bit of news now you've probably if you've looking into news at all in the sector you must have heard about just in son Tron CEO it's one of those meetings with Warren Buffett that he I think he went on eBay paid a couple of million whose men I have a big meeting they market it today absolutely heavily that Mister son was going to convince Warren Buffett about Kryptos and change his mind now there's been some controversy surrounding this meeting firstly because it was cancelled by Tron in their team because they firstly said that Justin was suffering from I think it was kidney stones now fair enough if he is I've heard that's extremely painful I'm sure you've been everybody said about kidney stones but then I hear later on that it he's been detained by the Chinese government very obscure situation saying they've caught him on corruption or I think it's something to do with the how the exchange is being worked again not allowing him to leave China now I've seen other reports that he's actually in America so I don't really know what's what's been going on at it and the real stir behind this but I think the main point why I'm bringing it up is because Tron's price fluctuates it quite a lot during this news release and is this something fake news that people are trading on the track did Tron do it on purpose to really see if they could market it heavily build up hype up their coin obviously then before the news gets released they're selling off aren't they and making they could make a small fortune if they knew that they were doing this now I'm not saying that's what's happened that's just the skeptic in me as you may have heard quite a lot my videos I'm always very controversial in terms of what's going on I'm look at trial look between the lines not just at the statements that come out and it just feels like again I hate to say the market manipulation I could be totally wrong it could be really unwell with kidney stones I'd know they're really painful so watch this space let's see what happens there now on to a more not worrying topic but something which I get asked by my clients my portfolio clients and my Academy clients all the time trading exchanges crypto exchanges by Nance and so on there's hundreds of them now there's 200 300 of them now one thing that I've always stuck with with my clients is that I'm looking at trading gone I'm you know I've been in this space for quite a long time so I've been I'm still trading on Polonia X bit for net not bit for next very bit treks by Nance obviously and some of the major players in the space now one thing that I'm slightly disturbed by is this whole fictitious volume that goes through these exchanges now I'm seeing some exchanges which I've never even heard of and I'm not saying up spoke to every single trader on the planet but I speak to a lot of traders that come through or retail traders looking to improve themselves and they really haven't heard of half these exchange so I don't know where all this volume or apparent volume is coming from and bloomberg businessweek addresses this really well in this article I think it targets how the industry of icos ie oh I oh sorry especially ah booming coins and new projects and new new cryptocurrency projects are looking to launch their projects on exchanges and how they pick which exchanges use on is based on how much trading volume they have and how much trading volume their who influences the price that the exchange charges these projects to get listed so can you see this so it's in their interest to have as much volume as possible now what this article goes into explain doesn't really go into the i/o side of things but it really goes into how regulators are looking to look you know trying to get control of this because there's a whole industry of if you go over to coin market cap which is the major player in the industry that many people look at for volume okx they've been a major player for a while but I can't see them having more volume than them by Nance I can't see El Bank I do from speaking to all my clients like I said and speaking to people in the industry half of these exchanging I'm not name picking because you know they may be accurate but do they really have this much trading volume or is it just wash trading is it just bot trading that's pushing this volume up because I don't speak to a lot of people industry i watch a lot of videos i watch it read a lot of stuff about the sector and like I can't see how hot some of these exchanges have so much volume I don't want it to bring it to traders and our followers and our network because it makes you think are you trading on the right exchange what I would say it's stick to what you used to stick to you know what works you don't get stuck in trades look at what look at the volume before you make your trades look at what's going on on that particular exchange and if it looks something looks funny in the buy order and the sell order books then just stay away from it because you can get trapped in trades and you don't want that so that's really the conspiracy or conspiracy theory for that I had today that I wanted to draw on so let's have a look at the markets first so again Bitcoin doing well today over 10,000 we'd like that we love that we want to see more of it and I think in my last video what I mentioned was that the dominance of et Cie was so high it was almost 70 percent thought it was 66 67 percent I believe looking at quickly double check on woke up it's dropped down to 64 and what did I say I said when we see this we will know that all coins are going to be on on a push so again ether up almost six in at well over just over seven seven and a half percent we've got litecoin over six percent we've got eos over 10 percent I wonder what Neos doing let's have a look neo five and a half percent 24-hour volume do you see what I'm saying here when the market starts to settle there will be automatic reasons and automatic trading and individuals saying well bitcoin starting to settle maybe I'll see some better games you know in all coins well I'm not saying it's all coin season but I'm definitely happily happily looking at my portfolio and seeing some of the major players like you know well I can imagine before Tron isn't doing as well as we would you know because of the news that's come out this week but over ten percent today so really good games have a look at what we got here ad a six percent – an old og over six percent excellent four percent these you know it's nice to see a bit of green across the board I know we've been doing really well on Bitcoin up to 14 obviously but it's nice to see some of the alts doing quite well today and just I think I also jumped over to coin mark just to look at some of the biggest gainers now I'm going to be honest with you I'm in the space all the time and I haven't heard of hope most of these coins addicts I have heard of doing a really 24-hour good game there I saw look what else we've got that I've I've actually done some research on that's probably the only one some of these others spider VPS may be a great project trading volume looks very low though but 102 percent gain I'm not sure how many of people will be invested in that to do that but it's good to see the market showing green that's my main point so before I go today as always please like and subscribe please jump over to the website platinum crypto Academy check out our weekly trading magazine that we give out for free just free subscription join up it gets directly sent to your mailbox each week covers trading tips market sentiment updates in the market and any project we're actually looking at at the moment so it's a real good tipster for anybody looking at the market but you all have a great day hope you all in the UK are enjoying the warm weather get an ice-cream speak soon

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