First up, you can now find the Poloniex blog on our website! This includes Polopedia articles, insights on industry trends, news on events here at Poloniex, and this very newsletter! Now you can trade, learn, and stay up-to-date with us, all in one place💪
Market Watch!
DOGE rallies amid Twitter’s massive layoffs
Dogecoin (DOGE) gained around 26 per cent at one point last week amid Twitter’s massive layoffs. Thanks to a tweet posted by Elon Musk, DOGE is now trading at $ 0.12 by press time. Meanwhile, Bitcoin (BTC) and Ether (ETH) are trading at $20,926 and $1,585 respectively. As for the 24H gainers on Poloniex, they are KUB/ USDT, LTCBULL/ USDT, SENSO/ USDT, XLMBEAR/ USDT, MATIC/ USDT, LTC/ USDT.
Elon Musk on Twitter: "😉 pic.twitter.com/eaIYaDRBnu / Twitter"
😉 pic.twitter.com/eaIYaDRBnu
So what happened this week?
A tale of two cities: Singapore and Hong Kong adopt divergent approaches on digital assets
Singapore kicked off the Singapore FinTech Festival last Wednesday, which coincided with a similar event in its rival financial hub, Hong Kong. However, the cities are adopting divergent approaches on the retail trading of digital assets. While Hong Kong will conduct a public consultation on how retail investors may be given a suitable degree of access to virtual assets, indicating that the government doesn’t rule out the possibility of legalising such a retail trading, Singapore voiced their concerns about the risks involved in speculative trading. Although Singapore officials said that there were no “urgent cases” for a retail CBDC in the city, Singapore along with France and Switzerland have launched a joint trial of their experimental CBDCs with automated market makers (AMM). AMMs are designed to combine pooled liquidity with algorithms to determine the prices between two or more digitally tokenised assets such as currencies, and they are seen as the backbone technology of trading digital currencies between countries.
CNBC , Reuters , CoinTelegraph
Instagram to allow creators to mint, showcase and sell NFTs
Instagram will soon allow creators to mint, show and even sell non-fungible tokens (NFT) on the platform with an “end-to-end toolkit”, the parent company Meta announced last week during its Creator Week 2022 event. According to the press release, this is a new way for creators to make their own NFTs and sell them on or off Instagram. The company also revealed that a “small group” of United States-based creators will be eligible to test the new features before expanding the trial to other countries, but it didn’t provide further information on when this would take place. Meanwhile, Meta has chosen the Polygon blockchain as an initial partner for this functionality and it also showed support of the Solana blockchain and its popular Phantom wallet on top of its current lineup of supported blockchains, including Ethereum, Flow, and Polygon. In addition, Meta also adds new ways for people to show appreciation for their favorite creators through expanded access to Instagram subscriptions and gifting on Instagram Reels. As for the fees, Meta’s Head of Commerce and Financial Technology, Stephane Kasriel, said it wouldn’t charge fees to create or sell NFTs until 2024 and blockchain gas fees for buyers will be covered by Meta “at launch” without providing further details, according to Cointelegraph.
Mastercard adds another 7 startups to its crypto accelerator to foster Web3
To strengthen its blockchain and crypto expertise, global payments giant Mastercard has chosen another seven startups for its Start Path program to bridge the gap between Web2 and Web3. Mastercard Start Path is a six-month accelerator program that has helped startups in expanding and commercializing their products and services since its establishment in 2014. So far, Mastercard has supported more than 350 startups.
New Listings on Poloniex
Here’s what we’ve listed recently:
New Coins
⚽️ Fan tokens
Futures
⭐️ Aptos (APT)
Polopedia
Optimism, the layer 2 Ethereum blockchain, is one of our recently listed tokens and a popular project helping scale the Ethereum network.
Crypto Glossary
A Whale, more commonly called a “Cryptocurrency Whale” or a “Crypto Whale”, refers to individuals or entities that hold large amounts of cryptocurrency to influence the crypto market. As for how to achieve such a status, there is no universal standard, but normally it refers to those who hold at least 10% of the total number of a specific cryptocurrency and some of the well-known Whales are H.E. Justin Sun, Sam Bankman-Fried, Michael Saylor and Brian Armstrong, etc.
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!
🧑🚀Space Traveller Campaigns to Celebrate the FIFA World Cup Qatar 2022! (Runs until December 2022)
Space Traveller Campaigns to Celebrate the FIFA World Cup Qatar 2022!
Learn & Earn: Fan Token — Share $120,000 Worth of Fan Tokens (ASR/JUV/ACM) by Answering Quizzes (Part 2) (10/31–11/7/22)
Cross Margin is Live! Start futures trading to win 20,000 USDT! (10/24–11/8/22)
Cross Margin is Live! Start futures trading to win 20,000 USDT!
Poloniex FIFA World Cup Carnival: Trade Fan Tokens to Split $100,000! (10/24–11/19/22)
Poloniex FIFA World Cup Carnival: Trade Fan Tokens to Split $100,000!
Become a Poloniex KOL to Win a Commission of up to 60% and Share 10,000 USDT (10/1–12/31/22)
Become a Poloniex KOL to Win a Commission of up to 60% and Share 10,000 USDT
The community megaphone📢
Highlights from the community
Poloniex Exchange on Twitter: "Do you own any Fan Tokens? ⚽️ / Twitter"
Do you own any Fan Tokens? ⚽️
Poloniex Exchange on Twitter: "🕷️😈Trick or Treat?Share with us your #Halloween costume or carved pumpkin in the comments🎃 Let's choose the top spookiest!👻 pic.twitter.com/wtm0DIaPwk / Twitter"
🕷️😈Trick or Treat?Share with us your #Halloween costume or carved pumpkin in the comments🎃 Let's choose the top spookiest!👻 pic.twitter.com/wtm0DIaPwk
Poloniex Exchange on Twitter: "Poloniex ranking increased to #16 on @coingecko and to #21 on @CoinMarketCap🥳 Thank you for your support, we will continue to work hard to provide you the best experience!❤️ pic.twitter.com/BxOL4E88gj / Twitter"
Poloniex ranking increased to #16 on @coingecko and to #21 on @CoinMarketCap🥳 Thank you for your support, we will continue to work hard to provide you the best experience!❤️ pic.twitter.com/BxOL4E88gj
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!
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