Crypto exchange Poloniex announced it has added the DeFi token Decentr to its DeFi Innovations Zone. Decentr, an immutable platform that collects and secures user data, allows people to monetize their internet activity. Its native toke, DEC, is used to buy and sell data and, according to Poloniex, “helps to determine the value of users’ data.” Users can earn or lose personal data value, or PDV, based on the positive or negative interactions within the Decentr platform. Positive PDV increases the spendable value of the DEC tokens. DEC is the latest DeFi project Poloniex added to its stable. The crypto …

A number of analysts have suggested the meteoric price performance of the Compound Governance Token (COMP) may have been orchestrated using derivatives. After initially changing hands for approximately $80 each upon its June 18 listing on Poloniex, COMP quickly rallied 500% to post highs above $380 June 21 as news of a Coinbase listing appeared to entice buyers. COMP/USDT on Poloniex, 1hr chart: TradingView Since the high, COMP has shed 34% of its value and is currently trading for $253. Was COMP’s rally driven by organic demand? In a June 25 article, independent crypto blogger and Decentraland product lead Tony …

The price of the Compound Governance Token (COMP) has jumped by one-quarter on news of a surprise listing on leading cryptocurrency exchange Binance. COMP tokens began trading approximately one week ago, quickly making triple-figure gains and attracting millions in trade volume. Binance stated that it did not charge a listing fee for introducing the pairings. Binance now supports pairings between COMP and Bitcoin (BTC), Tether (USDT), Binance Coin (BNB), and BinanceUSD (BUSD). COMP spikes 25% in five minutes on Poloniex On June 25, Binance announced that it would list pairings for COMP one hour before they went live, spiking the …

Compound Governance Token (COMP), the native token to the popular decentralized finance (DeFi) protocol Compound, has suffered heavy losses after its meteoric first day of trading on Coinbase. After trading as high as $427 on Coinbase Pro on Tuesday, COMP has fallen back below $250 within 8 hours of the local high. With less than one-quarter of COMP’s entire supply currently circulating, the aggressive price swings were driven by relatively thin volume — posting $24.5 million in trade over the past 24 hours. Despite the sharp decline in price, COMP still represents 36.5% of the total DeFi market cap with …

Poloniex, a veteran exchange that was recently purchased by a consortium including Tron founder Justin Sun, has launched Binance Coin (BNB) and Binance USD (BUSD) pairings. As of June 6, BNB and BUSD wallets are now live on the exchange, with markets for the corresponding pairings slated to launch in post-only mode to ensure stability before full trading functionality rolls out. Binance tokens listed on Poloniex The listings bring support for six new pairings, with Binance Coin now tradeable against Bitcoin (BTC), Tether (USDT), and Tron (TRX) in addition to BUSD, and Binance USD also supported against USDT and BTC. …

The plaintiffs behind a class-action alleging that Bittrex and Tether drove the 2017 bull run through market manipulation have requested the issuance of summons to exchanges Bittrex and Poloniex. The lawsuit, first filed in October 2019, alleges that veteran cryptocurrency exchange Bitfinex and its sister company Tether inflated the supply of Tether’s USDT stablecoin without proper US dollar backing to drive up crypto prices during 2017’s all-time high. The suit is on behalf of investors who purchased crypto assets at what they believe are artificially inflated prices. The Plaintiffs have requested that the Court award reasonable costs of suit, pre- …

New analysis of the top 10,000 Ether wallet addresses certainly paints a very bullish picture for Ethereum as it moves towards Proof-of-Stake consensus. However, it also suggests that some highly questionable practices are being employed by certain major cryptocurrency exchanges and Ether (ETH) whale accounts. The Poloniex/Tron axis According to the report’s author, Adam Cochran, when Circle bought Poloniex back in February 2018, it moved assets into better cold wallets and had strong reserves. However, when the exchange was acquired by a group that included Tron’s Justin Sun, it is speculated that some of these cold wallets were drained to …

Cryptocurrency exchange, Poloniex, experienced unscheduled downtime on April 24 before resuming trading for all pairs except GRIN/BTC. Poloniex announced in a tweet sent that the exchange had to halt its activity due to an unexpected issue. Interestingly, the exchange warns users that it does not intend to resume the trading of the Grin (GRIN)/Bitcoin (BTC) pair, which is apparently the root of the malfunction. Poloniex resumed activity before going into maintenance mode again about an hour later. Once it resumed trading for good, its announcement read: “All markets except GRIN/BTC are now re-enabled for full trading. Our initial maintenance was …

Bitfinex’s Bitcoin (BTC) holdings have decreased by 66,000 in the past four weeks. On March 17, the exchange held 200,140 Bitcoin. By April 13 this amount had dwindled by 33%, to just 134,091 Bitcoin. The massive decrease mirrors that experienced by BitMEX, which saw a 38% percent decline in its Bitcoin holdings after the mid-March “flash crash”. Source: TokenAnalyst Bitfinex BTC Balances & Net Flow. There has been an overall trend recently of users moving their digital assets off exchanges, but most saw much more minor decreases. One exchange, Poloniex even managed to increase its Bitcoin holdings during the same …

Major Steem stakeholder Dan Hensley has levied heavy accusations at TRON founder and CEO Justin Sun. According to Hensley’s April 8 writeup, Sun “bribed” his way to the top of the Steem hierarchy with “money, power and users.” As Cointelegraph reported in early March, Steem was the subject of what many supporters deemed a hostile takeover by Justin Sun. Hensley’s latest allegations shed new light on how the TRON founder allegedly influenced prominent Steemians into doing his bidding. A TRON representative declined to comment on this story. In a conversation with Cointelegraph, Hensley described Sun’s intention to circumvent established community …

Poloniex revealed its forthcoming Tron (TRX)-powered initial exchange offering (IEO) platform on April 5. Projects seeking to conduct their offerings on Poloniex’s LaunchBase platform face the stipulation of issuing tokens in exchange for TRX, and will be considered on a “first-come, first-serve” basis. Poloniex announces Tron-powered IEO platform Poloniex asserts that LaunchBase is intended “to help quality blockchain projects grow and further develop their ecosystem,” stating that it will “offer professional advice and guidance” to assist partner projects. In addition to agreeing to raise funds in TRX, partner projects will be subject to “eligibility and screening requirements.” Entities located in …

Over the last few days, the centralization versus decentralization row has erupted in earnest. In case you missed it, the activities of Tron founder Justin Sun following his takeover of blogging site Steemit have been pivotal to the controversies. Let’s briefly recap. Earlier in February, it emerged that Sun was further expanding his crypto-empire with the acquisition of Steemit, which runs on the Steem blockchain. Steem was developed by Daniel Larimer, who also introduced the delegated proof-of-stake governance model, or dPoS, to the blockchain sphere. Larimer later went on to build EOS, which also runs on dPoS. Related: Steemit Managing …