It seems Poloniex defends its new partnership with TRON. The exchange company reacted to a Twitter thread by Digibyte co-founder Jared Tate, momentarily proclaiming a pending delisting of DGB as we are reading further in the upcoming blockchain news.
The Polniex exchange disapproved of criticism addressed to the TRON protocol, and it undoubtedly had the reasons to do so. Poloniex is now applying to become a TRON Super Representative, and have also obtained TRXMarket, transforming it into Poloniex DEX. Therefore, Tate’s comments sparked the reaction.
The delisting was at first odd, as Polonix had finished with the mass of its delistings for 2019. Most of the decisions were in relation to problems with the cryptocurrencies on the US market, or low liquidity. In contrast, DigiByte is a project with a big community, which endured the big Poloniex cull. The recent delisting was a source of outrage, for targeting a specific coin and in essence censoring its market.
Now poloniex defends the new partnership after becoming an international exchange and is also trying to change the profile and find new sources of activity. Poloniex even announced new plans to offer free listing to the TRON based TRC-20 tokens which will take the asset on board from the previous TRXMarket decentralized exchange.
Poloniex now bears volumes of around $33 million daily and has put a limit on itself to 98 trading pairs. The exchange also experienced a big outflow of Ethereum. The DGB market on the exchange is relatively small, around $97,000 in the pairing with BTC. The new liquidity indicator also implies that DGB may face a substantial fall, as the market depth is just about $64,000.
In theory, DGB is between the less active coins- but Polniex has earned more criticism by its odd decision to delist. Following the news, DGB fell about 3% to $0.00068. There is a meaningfully lower trading interest in comparison to the boom of 2017. DGB now trades dominantly on ZBG and CoinEx, with a miniature market on Bittrex. One Reddit user commented:
“Poloniex delisting DGB proves Jared’s point. This was actually good for the DigiByte community, which is looking very strong and cohesive on Twitter. Ultimately DGB does not need Poloniex and I believe this flame war is going to bring in a new batch of DigiByte supporters”
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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