Cryptocurrency market overview | JAYWAI FOREX on Binance Square

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Cryptocurrency market overview

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The FOREX market is an auction market: Simply means that’s sellers and buyers are transacting across different offers. For examples sellers have to generate an offer for buyers to bid on it, if the buyers don’t like the offer and decline the offer, sellers have to drop the price and bid again, this time if buyers still decline, same scenario again, until the buyers accept the offer ( not different buyers with different bids, the bid has to match the price or even higher for market to take a turn). Market is split into two category 🔹Balance & 🔹Imbalance In a balance market both the buyers and sellers are happy to transact and reverse is the case for imbalance market. When buyers and sellers agree at a certain price it is FAIR VALUE. This gives equal control as they continue accumulating their orders up until when the price becomes unfair, either supply increases or reduces / demand is lowered or increased. Imbalance market, buyers and sellers are not agreeing on the value. The buyers are in search of fair value same for the sellers.

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So guys I just made withdrawal from Binance . P2P may have been removed but you can still withdraw from Binance. They’re now called merchant and not p2p 😆 (Ps: Binance too get sense) All you need to do is convert your $ to NGN and withdraw the NGN. You’re welcome 😇

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