By looking on coingecko, you can notice a volume declining over the years and I might identified the issue, that could be seen as an iceberg.
Visible level : Spot/Perp/DEX prices
Deep level (not tracked) : crypto-swap exchange, localmonero or atomicswaps
Theres a looot of volume not tracked in the deep level, since a monero user is most likely using these ways (just look the last bad new it was a “nokyc” swap)
How this can be solved ?
Based on the current liquidity on samourai swaps and BasicSwapDex, I doubt there is THAT much volume going unnoticed but there is definitely some. I’m very interested in what SeraiDEX will reveal about Monero.
I mean, all theses swaps going on “non-custodial” exchanges, their volume are not tracked. they probably represents a lot of transactions involved in circular economies. 600k tx in February while theres less volume isnt make sense
BasicSwap DEX Desperately needs an appimage release and an option to connect to remote nodes. That way anyone on any linux can just use it. If they do not do this they will have 10-15 users.
For people downvoting, have fun keeping paper monero exchanges deciding of the price, because the actual volume isn’t shown. (My own opinion on that topic)
Most of the downvotes are from lemmy.world who have made it their new hobby to downvote posts on our instance, don’t take it personal :)
It was a personal opinion to add, I have no problem with people downvoting 😁
Just sour commies, lemmy is infested with them, angry because Monero is immune to the whims of corrupt central planning control freaks.
Even if Monero daily transaction volume seems low compared to cryptocoin X , Y or Z. That’s not a problem
can any other coin (other than bitcoin) point to numerous different marketplaces using monero as standard?
can any other coin offer what monero offers to market participants?
and lastly; numerous sources have researched wash trading - including US Gov, big banks like JPM and each find that at least 70% of transaction volume is wash trading.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4649565
as such you can look at daily volume and diminish it by at least 70%, then compare.
eg / solana, #5 on coingecko at $2,633,235,375 24h volume ($2.6billion) minus 70% for wash trading = $789,970,612 ($789 million) monero @ #45 = $85 million
[not saying there isn’t fuckery with xmr price, especially until binance drops it] [also noting that the question is still valid about how data is collected on transaction volume for xmr in private]
