Circle’s Crypto Exchange Poloniex Adds USDT Trading Pairs for 0x (ZRX), Lisk (LSK), Dogecoin (DOGE), Golem (GNT), and Siacoin (SC)

On Friday (31 August 2018), cryptocurrency exchange Poloniex, which is owned by Goldman-backed Circle, announced several new USDT pairs. 

The announcement came in the form of a post on Circle's blog:

"While we continue to focus on improving the performance of Poloniex and bringing a curated set of assets to the exchange, we also attempt to implement the top requests of our customers and project developers where possible. In this spirit, we are enabling a new set of USDT trading pairs for some of our currently-listed assets, beginning with 0x (ZRX), Lisk (LSK), Dogecoin (DOGE), Golem (GNT), and Siacoin (SIA)."

In the past few weeks, the Poloniex team has been quite busy with adding support for several cryptocurrencies:

  • On 21 August 2018, Poloniex said that it was opening markets in Basic Attention Token (BAT) and Loom Network (LOOM), and that trading in USDT, BTC, and ETH pairs for these two cryptocurrencies would be enabled on 22 August 2018. 
  • On 14 August 2018, Poloniex announced the opening of markets in Status (SNT) and Kyber Network (KNC).
  • On 31 July 2018, Poloniex announced that it would enable trading in EOS/USDT, EOS/BTC, and EOS/ETH pairs on 1 August 2018.

With regard to today's additions, the one that is most noteworthy is Dogecoin, which has had quite a strong rally in the past couple of days. According to data from CryptoCompare, at press time, DOGE is trading at $0.004, up 33.38% in the past 24-hour period. 

Also, on Thursday (30 August 2018), Yahoo Finance announced on its Tumblr blog that its iOS app now had cryptoccurrency trading capabilities, and (rather surprisingly) Dogecoin was listed as one of the four supported cryptocurrencies (the other three were Bitcoin, Ether, and Litecoin).

Featured Image Courtesy of Poloniex

Ethereum Was Behind 85% of Dapps' $12 Billion Volume in Q2 2020

The total transaction volumes of decentralized applications (dapps) in the cryptocurrency space hit $12 billion in the second quarter of this year, rising by $4.5 billion compared to the first quarter. Etheruem dapps accounted for 85% of the volume.

According to DappRadar’s Industry Review report, there are more than 70,000 active wallets across 13 different blockchains interacting with the cryptocurrency space. The top blockchains were EOS, TRON, and Ethereum, with the latter representing $10.2 billion of the $12 billion volume seen in Q2.

Ethereum’s large transaction volume was partly fuelled by Compound and the launch of the COMP token, which led to a “yield farming” trend, in which users were interacting with the protocol as much as possible to receive COMP tokens. Compound saw $1.2 billion move through it.

The yield farming trend saw Ethereum gas prices and transaction fees increase, which according to the report did not stop Ethereum dapps from thriving in general. It did, however, contribute to an 80% drop quarter-on-quarter for ETH gaming dapps, as high gas prices are “killing” their activities on the cryptocurrency’s network.

Despite Ethereum’s growth, EOS and TRON (TRX) dapps have also seen their activity increase in the second quarter of the year. According to the report in only three months, TRON’s transaction volumes on decentralized applications surged by over 17,200%.

The rise was largely attributed to Oikos.cash, a TRON-based version of the Compound lending protocol.  While TRON’s DeFi growth has been notably, DappRadar pointed out that most dapps on its blockchain are still in the “gambling” and “high risk” categories.

The EOS blockchain has still been enduring the effects of the EIDOS token airdrop, which put the network into “congestion mode.” The airdrop clogged the network and as a result, from 2019 to 2020 wallet activity on decentralized applications dropped 53%.

So far this year, $1.9 billion have been transacted on decentralized applications using the EOS blockchain, thanks to two dapps: Crypto Dynasty and Upland. DappRadar’s report also shows that two other blockchains are growing thanks to gambling dapps: WAX and ThunderCore.

Featured image via Pixabay.