So what happened this week?
BTC plunged to below $22K to end 3-week upward trajectory over the weekend
Last Friday, Bitcoin (BTC) plunged to below $22,000, ending an upward trajectory that had lasted more than three weeks. The reason behind the dip was related to a sudden crypto sell-off according to CNBC. Meanwhile, Ether (ETH) fell from $1,847 to $1,612 on the same day by closing time. Other altcoins including Binance Coin, Cardano and Solana also fell. As of Monday 2:19am UTC, BTC is now trading at $21,428 while ETH is now at $1,599. As for the 24-hour gainers on Poloniex, they are EOSBULL/USDT, ADABULL/USDT, LINKBULL/USDT, SNX/USDT, SNX/BTC, EOS/ USDT.
Alphabet poured nearly $2B in blockchain-related projects in 10 months
Google’s parent company, Alphabet, is the largest blockchain investor, investing nearly $2 billion in blockchain-related startups or projects between September 2021 and June 2022 among 39 other public companies, all of which invested about $6 billion in blockchain-related investments altogether in the same time period. According to crypto intelligence platform Blockdata, in the last 10 months alone, Alphabet has invested $1.5 billion into four blockchain companies including Fireblocks, Dapper Labs, Voltage , and Digital Currency Group. Earlier, Alphabet CEO Sundar Pichai remarked that the company was exploring how to integrate blockchain technology into its services like YouTube and Google Maps. However, various sources said recently that Alphabet has extended its hiring freeze since its initial freezing plan was rolled out on July 20 this year because of the slow revenue growth and murky outlook for tech companies.
Fortune, Blockworks, Cryptoslate, Tech.co
ETH-related domain name registration spikes as the Merge draws closer
As the Ethereum’s Merge draws near, the number of Ethereum Name Service (ENS) addresses has spiked to over 2 million mid-last week. ENS broke the news on its Twitter account last mid-week: “2m ENS names created!! 🎉 it took 5 years to get to 1m names then 3.5 months to get to 2m names and we’re just getting started,” ENS manages the issuance and renewal of .eth domain names built on the Ethereum blockchain. The domains can also be sold as NFTs.
Ukraine purchased weapons, drones and softwares with crypto donations
Ukraine’s Vice Prime Minister, Mykhailo Fedorov, tweeted last Wednesday that the $54 million raised by NGO Aid for Ukraine was used to purchase military equipment, armoured vests, medicines and vehicles in the Russia-Ukraine War. The war-torn country is the second largest user of crypto after the US, according to the newest study conducted by Merchant Machine, a payment processing comparison website. Meanwhile, the US and the UK are the first and third respectively. The study used the number of crypto owners, businesses that accept cryptos, and the amount of Bitcoin ATMs available as benchmarks in the survey. Due to the war, the use of crypto has been increasing in the eastern European nation since February 24 when Russian troops invaded and the Ukrainian government made a decision to expand its use of crypto to support its economy.
New Listings on Poloniex
Here’s what we’ve listed recently:
New Coins
ETHS (ETH2)- ETH pair , USDT pair , USDD pair
ETHW (ETH1)- ETH pair , USDT pair , USDD pair
Futures
Polopedia
The Ethereum Merge is drawing ever nearer! Check out our related articles to get up to speed on one of the most important crypto events yet to come.
Crypto Glossary
Understand crypto terms before investment! This week, we’re going to explain the term NTP.
NTP stands for Network Time Protocol (NTP) and it is one of the oldest internet protocols which is used for clock synchronization between computer systems on various networks.
For example: The in-built Network Time Protocol (NTP) on Poloniex’s new trading system can synchronize all servers to provide services at the same time and mitigate latency.
What’s happening here at Poloniex?
This is what Poloniex’s week looked like
Highlights for the week
Campaigns
Ongoing campaigns that YOU can get involved in!
New Trading System feedback bounty! Share your feedback & win rewards up to $1000 USDT! (8/9 — further notice)
Poloniex Feedback Bounty Program
LUNA & LUNC Listing Giveaway: Deposit and Trade to Win From 10,000 USDD (8/17–8/24)
LUNA & LUNC Listing Giveaway: Deposit and Trade to Win From 10,000 USDD
Poloniex Referral Carnival (Phase IV): Invite Friends to Share 10,000 USDD
Poloniex Referral Carnival (Phase IV): Invite Friends to Share 10,000 USDD
Global Tour
Our global tour is our chance to meet our many users around the world IRL!
This time, we stopped in Malaysia to mark the 5th stop in the Poloniex Global Tour!
The community megaphone📢
Highlights from the community
body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}
function notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height);resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}
function notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height);resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}
And that about covers it for this week! Curious about our campaigns or upcoming events? Give us a shout in our Telegram channel-
Is there anything you’d want to see us cover in our newsletter? Make sure to comment on this Medium article! Just want to show your appreciation? Smash that clap button and give a round of applause👏
Thanks for spending some time with us as we went over what’s going on. And wherever you are, from the team here at Poloniex, good morning, good day, and good evening!
