☕️The Morning Cup: Ethereum to conduct Shanghai upgrade; More on HK’s pro-crypto policy
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.
👇 Something that you can’t miss!
🥳 Poloniex is on cloud NINE!
Before we get into The Morning Cup, we just want to tell you the exciting news that Poloniex is turning 9 this year 🥳, and to celebrate, we’re looking back on the amazing years that have allowed us to serve the crypto community and form us into what we are today. Most importantly, thanks to your support, we have made it this far.
To give back to your long-term support, we have launched a series of campaigns to give away prizes including BTC, ETH and an iPhone14 Pro with a cumulative amount of $1,300,000 along with a prize pool worth 900,000 USDT!
If you have special experiences with us that you want to share? Hop on our Twitter and reminisce with us as we gear up for Poloniex’s 9th anniversary celebration! Click here to learn more.
📈 📉 Market Watch!
BTC, ETH showed slight upward trajectory over 7 days
Bitcoin (BTC) was trading steadily with small gains over the past 7 days and it’s now standing at $17,199. As for Ether (ETH), it also has a slight upward trajectory and it’s now trading at $1,323.89. For the 24H gainer on Poloniex, they are FTT/USDT, MASK/USDT, APT/USDT, GALA/USDT and CULT/USDT.
🗞️ So, what happened lately?
Ethereum to conduct another upgrade for stake ETH withdrawals
After Ethereum’s Merge last year to shift the network’s consensus mechanism from Proof-of-Work (PoW) to Proof-of-Stake (PoS), developers are pushing for another upgrade. Dubbed the Shanghai Upgrade this will enable the withdrawals of staked Ether (ETH) tokens which are used to operate and safeguard the project’s blockchain network. It’s expected that the Shanghai upgrade will be deployed on a public testnet at the end of February, but the official upgrade is scheduled for March.
Hong Kong is determined to become a crypto hub
Hong Kong welcomes more crypto, FinTech, and startups to invest in the city, financial secretary Paul Chan Mo-po said at a Web3 forum in Cyberport, even as competing city Singapore backtracks on the heels of a bevy of black swans happening in the industry. Chan continued that Hong Kong remains committed to becoming a regional crypto hub under the robust regulatory framework that matches international norms and standards, and that it will work to attract new businesses from all over the world.
🤑 New Listings on Poloniex
Here’s what we’ve listed recently:
New Coins
Futures
🔍 DYOR before trading
Polopedia
This past week, we talked about an investment strategy known as dollar-cost averaging. Check it out on our blog!
Crypto Glossary: Stablecoins
They are a type of cryptocurrency where the value is pegged to other assets, like fiat money, exchange-traded funds (EFTs) and cryptocurrencies, with an aim to avoid rampant volatility. Therefore, investors can easily convert the trading pairs from one currency into another, like BTC/USDD and ETH/USDD. As for the two largest stablecoins by market capitalization, they are $USDT (Tether) and $USDC (USD Coin). Meanwhile other stablecoins in the market include $BUSD (Binance USD), $DAI (Dai), $USDD (USDD) and beyond.
💡 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!
If you are an influencer or community leader on YouTube, Twitter, Tiktok, Telegram, Instagram or Facebook, we have a referral program that you might be interested in! Become one of our Space Travellers and earn up to 60% commission!
$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!
