Indian Crypto Exchanges FACE MASSIVE VOLATILITY due to INR deposit and withdrawal disruption.
First all cryptocurrencies on KOinex were on a huge discount when they announced that their INR withdrawals are going to stop, now its Coindelta's turn, as soon as they announced that their deposits are stopped, which they did last minute panic struck and people started selling and now everything is on discount on coin-delta, those who had extra INR there are enjoying the party.
But why, can't they send them somewhere else?
They can send crypto anywhere but if you need your INR (Indian Rupee ) then you have only one option to sell and get out and save what you've got, for HODLERES this is the best situation in case they had extra INR left on the exchange which i had kept specifically for this situation on koinex, i knew there would be a panic sell and that I would buy into that, i wrote it down in another article on RBI ban of mine here on steemit. https://steemit.com/cryptocurrencies/@shunyo/supreme-court-refuses-to-grant-interim-relief-on-rbi-circular-on-cryptocurrency