☕️The Morning Cup: Major coins go green again; One more Aussie bank to create 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.
📈 📉 Market Watch!
Major coins including BTC, ETH go green again
The top 20 coins are in the green again. Bitcoin (BTC) increased nearly 9% over the past 7 days, and is now trading at $22,916 at the time of writing. As for Ether (ETH), it rose 5.4% over the past week and currently trades at $1,636. Other notable rallies last week included Solana (SOL), Dogecoin (DOGE), Ripple (XRP) Polygon (MATIC), TRON (TRX), and Avalanche (AVAX), and they were the top 20 coins reported by CoinGecko last week. For the 24H gainers on Poloniex, they are XFLR/USDT, XMON/USDD, FIL/USDT, APT/USDT, VINU/USDT at press time.
🗞️ So, what happened?
Poloniex celebrates 9th anniversary in the crypto industry
Amidst this crypto winter, many companies find themselves with the task of standing strong and fighting against the FUD. A difficult task indeed. But, some companies manage to thrive and shine in tough times with creative and innovative ideas, one of which is Poloniex. In 2023, we are celebrating our 9th anniversary with plans to launch more products and services to its customers across the globe. We’ve got a lot of work ahead of us, but for now, let’s celebrate how far we’ve come!
One more major Aussie bank to create stablecoin
National Australia Bank (NAB) has become the second major bank in Australia to create a stablecoin, named AUDN, backed by the Australian dollar 1:1. AUDN will allow retail and institutional investors to settle transactions on the Ethereum and Algorand blockchain networks in real time, and is slated for a public launch around mid-2023. At the time of launch, users will be able to use the stablecoin for various transactions, including trading carbon credits and sending money overseas, according to the Australian Financial Review.
NAB’s decision comes nine months after its rival, Australia & New Zealand Banking Group Limited (ANZ), created a similar product, A$DC.
This news marks the final bank of Australia’s big four to attempt the successful launch of an Australian dollar-backed stablecoin, joining the ranks of the aforementioned ANZ as well as Commonwealth Bank and Westpac. Although NAB and ANZ are working closely with financial regulators on the creation of stablecoins, they have faced setbacks due to competition concerns.
🤑 New Listings on Poloniex
Here’s what we’ve listed recently:
New Coins
Futures
🔍 DYOR before trading
Polopedia
Learn about one of the most crucial components of DeFi, and decentralized exchanges. Here is our explainer on liquidity pools.
Crypto Glossary
It’s the acronym of “Do Your Own Research”, which is commonly used in the crypto space. For example, margin trading can be highly profitable, but it can incur losses if you didn’t DYOR and gauge your risk tolerance beforehand.
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!
We’ve got a whole bunch of campaigns going on to celebrate our 9th anniversary. Need help choosing which one’s to get in on? Here’s a handy list:
Celebrate Poloniex’s 9th Anniversary with a $1,300,000 Prize Pool (1/10–02/07/2023)
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!
