{"id":402039,"date":"2019-10-22T18:00:47","date_gmt":"2019-10-22T18:00:47","guid":{"rendered":"https:\/\/wncen.com\/?p=402039"},"modified":"2019-10-22T16:16:33","modified_gmt":"2019-10-22T16:16:33","slug":"crypto-visualized-watch-the-fall-of-poloniex-and-rise-of-binance","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-visualized-watch-the-fall-of-poloniex-and-rise-of-binance\/","title":{"rendered":"Crypto Visualized: Watch the Fall of Poloniex And Rise of Binance"},"content":{"rendered":"

Last week, crypto exchange Poloniex was \u201cspun out\u201d from the Goldman Sachs-backed Circle<\/a> into its own, international brand, highlighting a lack of interest in the digital asset trading platform.<\/span><\/p>\n

A new data visualization is making way across the web, shows how Poloniex has fallen from grace over the last 5 years, and how during this time, Binance<\/a> was able to take the platform\u2019s leadership position.<\/span><\/p>\n

Poloniex and The Lost Throne of Crypto Trading <\/span><\/h2>\n

As industries grow, the companies within each industry need to evolve to stay ahead of market trends and ensure customer loyalty and satisfaction. Without regular improvements, companies risk letting a competitor take valuable market share that may be difficult to win back.<\/span><\/p>\n

Related Reading | Buy High and Sell Low? Circle Dumps Poloniex As Crypto Market Interest Wanes<\/a><\/strong><\/em><\/p>\n

Such as the case with Poloniex, a cryptocurrency exchange that five years ago, was the clear market leader in terms of overall crypto trading volume. But over the years, Poloniex lost its edge, for one reason or another, and competitors were able to steal market share that they were never able to recapture.<\/span><\/p>\n

The entire five-year process can be seen in a new data visualization shared by Managing Partner at Blocktown Capital, James Todaro. The video embedded in the tweet below clearly demonstrates how trading volume on Poloniex declined over the years, allowing the likes of Bitfinex, Bittrex, Coinbase, and Kraken to take over.<\/span><\/p>\n

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After >5 years of active trading and what was once the largest exchange, Poloniex now shuts its doors to the US.<\/p>\n

Here is the shifting landscape of cryptocurrency trading volume resulting in @binance<\/a> domination.<\/p>\n

What will it look like by 2021? pic.twitter.com\/McfR6oBKLb<\/a><\/p>\n

— James Todaro, MD (@JamesTodaroMD) October 21, 2019<\/a><\/p><\/blockquote>\n