Cryptocurrency exchange Poloniex acquired by Circle
Cryptocurrency exchange Poloniex acquired by Circle
Payment company Circle announced that it has acquired cryptocurrency exchange Poloniex. Rumors have been circulating for weeks and have finally been confirmed in press releases issued by both sides.. Poloniex used to be one of the top cryptocurrency exchanges, but has been stagnating lately. It is hoped that the partnership will rekindle wealth, while strengthening Circle’s presence in the crypto market.
Poloniex becomes all Circle
The news of Circle’s acquisition of Poloniex surfaced on an obscure site called Modern Consensus. when it came out, it was dropped as fake news. However, the story is true and the news is quite real.. Circle and Poloniex accelerate burgeoning Token economy. That was the title of the press release published on the NYT on February 26 at 8:00 am.. Circle was already investing in crypto through the Circle Trade app, but Poloniex connected it to the main artery at the heart of the crypto ecosystem.
Circle’s press release mentions many tokens.. Tokens with the phrase “an open global token market” are also featured.. It is clear that Circle will take a close approach as it has big plans for Poloniex and aims to implement its soon-to-be-renewable vision of change.. These plans go beyond disabling trollbox, one of Poloniex’s defining features.. Circle talks about improving my client experience. Poloniex is known to be bad in this regard. It also plans to improve compatibility and technical operations.
New money flow to old exchange
On a crypto basis, Poloniex is a complete OG and has been running since 2014. Since its inception, it has managed to avoid massive hacking attacks, which is a great achievement for that time.. Poloniex exchange:
We will do all the updates we make behind the scenes, these updates will be on improving user experience, increasing platform speed and security. Your money will be safe and your account activities will not be affected.. A payment option will be available for worldwide fiat currencies. In addition, it will provide access to projects that offer new uses for cryptocurrencies.
He made a press release.
In the past year, exchanges such as Bittrex and Poloniex, Binance and Kucoin has been largely overshadowed by new entrants to the industry such as. Old exchanges did not innovate and users moved their business to exchanges listing the latest cryptocurrencies. However, Poloniex still carries a heavy weight and is the 14th largest based on trading volume.. cryptocurrency trading hub. In the last 24 hours, $139 million was traded on the US stock market; Bitcoin and Litecoin used 37% of the volume. With Circle currently pulling the strings, Poloniex is likely to re-establish itself as the dominant global exchange.
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