Allthelight:
.


You can't control the economy by being a dictator. It will fail

twosquare:
Now it is backed at N1600+, and my Glo network can't connect Binance...let me try a VPN.

Some say their MTN does not work...

The Nigerian government and funny stuff.

twosquare:
And bam, it opens with VPN, let me wait and see what happens before I conclude.

EDIT: Now 1700

twosquare:
And bam, it opens with VPN, let me wait and see what happens before I conclude.

EDIT: Now 1700

nnekaike:
my App is opening smoothly, I use Airtel and spectranet

ayomidan:

What vpn did you use and is it free? I also sensed binance had been blocked, didn't open with mtn
This whole thing looks like a child's play, police & thief of a thing

nnekaike:
my App is opening smoothly, I use Airtel and spectranet

ThegreatDon:
Is it real that they banned exchanged

Owolabi97:

Pls binance app opening from ur side

ThegreatDon:


It's opening that's why I asked if it's true

Owolabi97:

Are u using vpn cos it not working here

Owolabi97:

Are u using vpn cos it not working here

dvkot:
Opening fine with mtn... the app is just handling unusual amounts of traffic and even if binance is banned they won't lock up your money but they are not banned

ElasmoBranchii:
There is something that I am still trying to understand though. Anybody with the answer should chip in.

Isn't USDT/NGN different from USD/NGN that is traded in the forex market. Since USDT is dependent on USD, shouldn't it be the USD that influences USDT not the other way around. If there is manipulation going on then it's the people trading real dollars that are at the bottom of it cause nobody is using USDT to buy goods. USDT is just used as a means of exchange for crypto. Why would BDC and other institutions be using the price of a digital asset to influence the price of their physical dollar. Shouldn't it be the other way around? It's not like they can send their dollars to binance and sell on binance because that medium is blocked or do they have a way to bypass it?

The volume of the USDT/NGN traded on binance spot is very low (I'm having problems uploading the photo). The volume shows that about $2.4 million dollars was traded as at the time this post and during that time there was a strong selling pressure that drove the price down. Does that mean that if I have a $3million buy order now that I want to inject into the market will that effectively revert the price back to 1900? If possible that would mean that if someone caused a volatility like that normally p2p traders will change their price but why would BDCs and other institutions follow suit when they are not trading USDT?

Someone that understands my question and is knowledgeable about this stuff should please explain.

GRACEGLORY:
Until Binance flags a message as concerning this, don’t worry yourself.

onatisi:
it is very simple. crypto has the quantity needed and the banks don't have the USD. so the price of a higher market will determine because that is where most people are running to. if there was enough USD in the banks, then no one would even think of crypto. the crypto market rate cant determine the rate of the market if there is enough for everyone.
that brings us to the fundamental question that govt should tackle and face , why is it that banks do not have enough USD? and what does the nation need to do to increase its fx earnings?

GRACEGLORY:





https://www.binance.com/en-NG/blog/all/securing-trust-binance-affirms-user-funds-and-operational-integrity-amid-market-dynamics-in-nigeria-8621586436010791625

onatisi:
boss i am using mtn and it isnt opening

dvkot:
I'm using mtn and all is good here

onatisi:
whaooooooo
did you restart ur phone or laptop ?

onatisi:
but they can protect customers funds and even pause trading and yet their sites will be accessible, the worrying sign is that the site is not accessible again.

ElasmoBranchii:
There is something that I am still trying to understand though. Anybody with the answer should chip in.

Isn't USDT/NGN different from USD/NGN that is traded in the forex market. Since USDT is dependent on USD, shouldn't it be the USD that influences USDT not the other way around. If there is manipulation going on then it's the people trading real dollars that are at the bottom of it cause nobody is using USDT to buy goods. USDT is just used as a means of exchange for crypto. Why would BDCs and other institutions be using the price of a digital asset to influence the price of their physical dollar. Shouldn't it be the other way around? It's not like they can send their dollars to binance and sell on binance because that medium is blocked or do they have a way to bypass it?

The volume of the USDT/NGN traded on binance spot is very low (I'm having problems uploading the photo). The volume shows that about $2.4 million dollars was traded as at the time of this post and during that time there was a strong selling pressure that drove the price down. Does that mean that if I have a $3million buy order now that I want to inject into the market will that effectively revert the price back to 1900? If possible that would mean that if someone caused a volatility like that normally p2p traders will change their price but why would BDCs and other institutions follow suit when they are not trading USDT?

Someone that understands my question and is knowledgeable about this stuff should please explain.

onatisi:
it is very simple. crypto has the quantity needed and the banks don't have the USD. so the price of a higher market will determine because that is where most people are running to. if there was enough USD in the banks, then no one would even think of crypto. the crypto market rate cant determine the rate of the market if there is enough for everyone in the banks , but since banks dont have the usd , people are rushing to the most available alternative which is crypto usdt.
that brings us to the fundamental question that govt should tackle and face , why is it that banks do not have enough USD? and what does the nation need to do to increase its fx earnings?

GRACEGLORY:



I’m on Binance at the moment. Very accessible.