Poloniex Continues Delisting Spree, Axes 23 Trading Pairs
- Earlier in May, Poloniex delisted nine altcoins, five of which were top 100 cryptocurrencies.
Massachusetts-based and Circle-backed cryptocurrency exchange Poloniex announced it would be delisting 23 trading pairs effective today, citing low volume on the soon-to-be removed tokens.
The latest victims of the Poloniex delisting bloodbath were slashed away on August 16, and included: LTC/XMR, DASH/XMR, ZEC/XMR, MAID/XMR, NXT/XMR, BCN/XMR, LSK/ETH, GNT/ETH, MANA/ETH, QTUM/ETH, STEEM/ETH, OMG/ETH, LOOM/ETH, SNT/ETH, CVC/ETH, KNC/ETH, GAS/ETH, BNT/ETH, LOOM/USDT, SNT/USDT, KNC/USDT, BNT/USDT, FOAM/USDC.
We will be removing 23 trading pairs on August 16, 2019, due to low volume. Note that each asset will continue to be independently tradable.
— Poloniex Exchange (@Poloniex) August 15, 2019
Earlier in May, Poloniex delisted nine altcoins, five of which were among top 100 cryptocurrencies as the US crypto industry was feeling the burden of an uncertain regulatory environment. At the time, the exchange said it would no longer offer these tokens for trading to US customers following reports of incoming regulations against unregistered security tokens.
Specifically, Poloniex said it currently wasn’t able to deduce whether the assets in question were unregistered securities, i.e., illegally offered in the view of the US Securities and Exchange Commission.
Poloniex abandons its aggressive expansion strategy
Ina different vein, Poloniex has announced the addition of Tron-based version of Tether, the latest Stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Read this Term offering from Justin Suns. Poloniex said it would support the new stablecoin on the Tron Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term in addition to Omni Protocol (Bitcoin).
It is rumored that the actions of the exchange are dictated by pressure from the US regulators after the firm was acquired by Goldman Sachs-backed Circle. Poloniex has been the subject of news blasts since Circle acquired the cryptocurrency exchange in a deal reportedly worth $400 million.
Prior to the Circle acquisition, Poloniex had an aggressive expansion strategy that saw the exchange lists dozens of coins.
Poloniex’s new offering will also be going up against established players like Coinbase’s GDAX as the move to appeal to institutional investors is the latest such effort from players within the cryptocurrency industry.
Massachusetts-based and Circle-backed cryptocurrency exchange Poloniex announced it would be delisting 23 trading pairs effective today, citing low volume on the soon-to-be removed tokens.
The latest victims of the Poloniex delisting bloodbath were slashed away on August 16, and included: LTC/XMR, DASH/XMR, ZEC/XMR, MAID/XMR, NXT/XMR, BCN/XMR, LSK/ETH, GNT/ETH, MANA/ETH, QTUM/ETH, STEEM/ETH, OMG/ETH, LOOM/ETH, SNT/ETH, CVC/ETH, KNC/ETH, GAS/ETH, BNT/ETH, LOOM/USDT, SNT/USDT, KNC/USDT, BNT/USDT, FOAM/USDC.
We will be removing 23 trading pairs on August 16, 2019, due to low volume. Note that each asset will continue to be independently tradable.
— Poloniex Exchange (@Poloniex) August 15, 2019
Earlier in May, Poloniex delisted nine altcoins, five of which were among top 100 cryptocurrencies as the US crypto industry was feeling the burden of an uncertain regulatory environment. At the time, the exchange said it would no longer offer these tokens for trading to US customers following reports of incoming regulations against unregistered security tokens.
Specifically, Poloniex said it currently wasn’t able to deduce whether the assets in question were unregistered securities, i.e., illegally offered in the view of the US Securities and Exchange Commission.
Poloniex abandons its aggressive expansion strategy
Ina different vein, Poloniex has announced the addition of Tron-based version of Tether, the latest Stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Read this Term offering from Justin Suns. Poloniex said it would support the new stablecoin on the Tron Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term in addition to Omni Protocol (Bitcoin).
It is rumored that the actions of the exchange are dictated by pressure from the US regulators after the firm was acquired by Goldman Sachs-backed Circle. Poloniex has been the subject of news blasts since Circle acquired the cryptocurrency exchange in a deal reportedly worth $400 million.
Prior to the Circle acquisition, Poloniex had an aggressive expansion strategy that saw the exchange lists dozens of coins.
Poloniex’s new offering will also be going up against established players like Coinbase’s GDAX as the move to appeal to institutional investors is the latest such effort from players within the cryptocurrency industry.