So what happened this week?
Quiet crypto market ahead of US holiday
The crypto market was uneventful over the weekend and ahead of Labor Day in the US. Bitcoin (BTC) is now trading at $19,852 while Ether (ETH) is at $1,576 at the time of writing on Monday morning. As for the 24-hour gainers on Poloniex, they are WLUNA/ USDT, WLUNA/ USDD, LINKBULL/ USDT, ADABULL/ USDT, LINK/ USDT, LINK/ BTC. Meanwhile, since Ethereum’s Merge is scheduled to happen in less than 10 days, it is expected that there will be more trading activities in spot markets, OSL Daily reported.
Poloniex launches “P.xyz” domain for better user accessibility
Poloniex launched a new domain name, “P.xyz”, for better user accessibility. The new domain name, “P.xyz”, is short yet memorable with the initial of Poloniex added to the top-level domain (TLD) name: “.xyz”. The launch of “P.xyz” is an important milestone for Poloniex and the exchange hopes that “P.xyz” will bring convenience to users. Meanwhile, “P.xyz” works in parallel with the existing URL (www.poloniex.com) to provide users with the same trading experience.
Aussie woman bought a house after Crypto.com transferred >$10M by mistake
Crypto.com, the cryptocurrency exchange, is suing an Australian woman after transferring her about A$10.5 million by accident last May, instead of returning a refund of A$100 that the defendant originally asked for. The exchange realized its mistake 7 months later after an audit took place and sought the return since then. Several reports said that the defendant’s sister bought a five-bedroom house worth A$1.35 million in suburban Melbourne. The latest update is that the state of Victoria’s Supreme Court has ordered the home to be sold and requested the involved parties to return the proceeds to the company. The case is expected to return to court in October. On a side note, Crypto.com has purportedly pulled out of a massive sponsorship deal with the European Champions League (UEFA) at the “last moment” earlier this summer according to SportBusiness and it is because of the sluggish crypto markets that it caused the exchange to take two rounds of layoffs in the past two months.
Facebook and Instagram users allowed to share NFTs soon
Meta will soon allow users to post their NFTs (Non-fungible tokens) that were minted on blockchain (e.g. Ethereum, Polygon, Flow and Solana) on Facebook and Instagram, and the platforms are compatible with crypto wallets such as Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet, so that users can share and display the digital collectibles on their social media accounts. Meta’s latest announcement is developing Web3 capabilities. However, some users are worried about the security and the privacy issues when digital wallets are connected to these social media platforms.
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");}}
Yahoo! Finance, Decrypt, Cointelegraph
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
This week, we covered Polygon and ssv.network, both working to help scale the Ethereum network.
Crypto Glossary
The long-awaited Ethereum Merge is around the corner, so this month, we selected the Merge as the theme of our Crypto Glossary! For this week, we’re covering PoW.
PoW stands for Proof-of-Work. It’s the earliest consensus mechanism for blockchains since the genesis block (e.g. Bitcoin & Ether), during which miners compete to solve algorithmic problems to append blocks and get rewarded. However, the shortcoming of PoW is that it is very costly and bad for the environment due to mining rigs and high energy consumption for mining.
What’s happening here at Poloniex?
This is what Poloniex’s week looked like
Highlights for the week
Campaigns
Our recap of ongoing campaigns that YOU can get involved in!
Hold & Earn: $10,000 Giveaway to Ethereum Community (8/25–9/9)
Hold & Earn: $10,000 Giveaway to Ethereum Community
Our feedback bounty is ONGOING! We’ve already distributed rewards, so make sure to give us your opinion for a chance to win rewards!
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");}}
The community megaphone📢
Highlights from the community
This last week, we hosted a Twitter Spaces event and talked about our new trading system and API with our Head of Marketing, Eddie Jiang!
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");}}
We also had the immense opportunity to take part in Coinfest Asia!
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!
