☕️The Morning Cup: Crypto market reclaims $1T; Iran, Russia reportedly to issue new stablecoin
Good morning, good day, and good evening. Welcome back to The Morning Cup. It’s your weekly recap of the latest in crypto news and your start to the week, no matter where you are. Don’t worry, we’ve selected just what you need to stay up-to-date, so you won’t spend time pouring through the news you don’t need, only the news you care about.
🥳 Happy 9th B’day, Poloniex!
Poloniex will celebrate its 9th birthday tomorrow! Thank you for being a part of this incredible journey with us so that we have made it so far with the following milestones achieved just a few weeks into a new year:
- Revamped the webpage and app with new UX/UI design and new slogan: “Connecting you to the power of crypto”
- Launch of futures grid trading bot
With our determination and dedication, more products and services will be launched to further provide you with a secure and stable way to enhance your financial flexibility and optimize your overall trading experience.
To celebrate our 9th b’day, the exchange has launched a series of campaigns to give away prizes worth over $1,300,000 to express gratitude to its customers’ long-term loyalty. Click here to learn more!
📈 📉 Market Watch!
BTC price rallies when the crypto market reclaims $1T
Bitcoin (BTC) experienced an uptick over the 7 days and reclaimed above $21,000 for the first time since last November, making the market’s total value exceed $1 trillion for the first time too, after the fall of FTX. BTC is now trading at $21,025 while Ether (ETC) is now at $1,555. For other cryptocurrencies, several performed well last week, but Solana (SOL) was one of the biggest winners so far since it saw a dramatic rise of over 64% over the span according to Decrypt. As for the 24H Gainers on Poloniex, they are BTC/USDT, ETH/USDT, TRX/USDT, LTC/USDT and XRP/USDT.
🗞️ So, what happened lately?
Iran, Russia to issue new stablecoin — report
The Central Bank of Iran and the Russian government are purportedly joining hands together to issue a new cryptocurrency backed by gold, which aims to enable cross-border transactions instead of fiat currencies. As reported in the Russian news agency Vedomosti and quoted by CoinTelegraph, the two countries are planning to create a “token of the Persian Gulf region” that would serve as a payment method in foreign trade, which potentially can apply to a special economic zone in Astrakhan, where Russia started to accept Iranian cargo shipments.
However, Russian lawmaker Anton Tkachev, a member of the Committee on Information Policy, Information Technology, and Communications, remains reserved over the joint stablecoin project since it would only be possible if the digital asset market is fully regulated in Russia.
In August 2022, Iran’s Industry, Mines, and Trade Ministry approved the use of cryptocurrency for imports into the country amid ongoing international trade sanctions.
Meanwhile, The Bank of Russia earlier agreed to allow crypto in foreign trade to mitigate the impact of international sanctions. But, the regulator has never clarified which cryptocurrencies would be used for such transactions.
Poloniex to celebrate its 9th anniversary
On January 18, 2023, Poloniex is entering a decade and we have kicked off the new year with a fresh start. First, we have revamped the website and app with a new user interface along with a new slogan, “Connecting you to the power of crypto”, which reflects Poloniex’s determination to empower more people to achieve financial success and experience revolutionary changes that cryptocurrency presents.
Moreover, Poloniex starts off the new year with the launch of its futures grid trading bot, which provides customers with a secure and stable way to enhance their financial flexibility, diversify their investment portfolios, and optimize their overall trading experiences.
As a proponent of emerging technologies, Poloniex is committed to focusing more on emerging markets and the development of the Web3 ecosystem along with the launches of more great products and services, including staking, a lite version of the app and website, fiat on-ramp, and beyond in the coming months.
To celebrate its 9th anniversary, Poloniex has launched a series of campaigns to give away prizes worth over $1,300,000 to express gratitude for its customers’ long-term loyalty.
🤑New Listings on Poloniex
Here’s what we’ve listed recently:
New Coins
Futures
🔍 DYOR before trading
Polopedia
As the industry matures, new and exciting applications of Web3 technology are coming to fruition. So this week, we covered utility NFTs, non-fungible tokens with value beyond their valuation in a collector market.
Crypto Glossary
This week, we explain the term, LAMBO, which is a shorthand for Lamborghini, a famous luxury car that people wish to own. Due to the high values of cryptocurrencies, they are often seen as the get-rich-quick digital assets, that’s why the phrase, “When Lambo?”, was created in the early days. Since then, the phrase has been circulated in the crypto space as cryptocurrency holders are eager to become rich to purchase a Lambo as a result of their crypto assets.
💡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!
Celebrate Poloniex’s 9th Anniversary with a $1,300,000 Prize Pool (1/10–02/07/2023)
$115,000 TRR Airdrop to Celebrate the Listing of Terran Coin (TRR）(1/11–1/18/23)
The community megaphone📢
Highlights from the community
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!
