Poloniex Continues Its Bias Towards Tron

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

Poloniex Continues Its Bias Towards Tron

  • Poloniex announced the extension of their zero-fee spot trading initiative to another week into 2020 on Sunday.
  • Poloniex also announced fee discounts for customers who hold or use TRX (Tron).
  • On December 1st, the official Poloniex Twitter account outright promoted Justin Sun’s Tron.

Poloniex announced the extension of their zero-fee spot trading initiative to another week into 2020 on Sunday. Starting on January 8th, the crypto trading platform plans to apply margin trading fees from 0.90% for transactions under $50K.

Interestingly, Poloniex also announced fee discounts for customers who hold or use TRX (Tron). Once this offer introduced, TRX holders will receive up to 30% discount on their maker and taker fees. Further, TRX holders will also be eligible for future incentives, such as airdrops, listings, and competitions by Poloniex.

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The announcement has added fuel to the argument of users and experts alike about Poloniex’s favoritism towards Tron. However, this is not the first instance where the debate has surfaced.

In July, Poloniex announced its support to USDT-Tron’s anticipated Airdrop. In this regard, it converted a percentage of Tether from the Omni network to Tron and stated that customers would receive credits based on the amount of Tether they hold on Poloniex. It also said that it would continue to support all three networks (Omni, Tron, and Eth) for Tether, leaving many perplexed.

In November, Tron CEO Justin Sun confirmed that Poloniex has acquired. It’s the decentralized exchange market of Tron, and it will operate under the new name Poloni DEX.

He further said that the acquisition carried out to develop the TRX market over the long term. The move left many confused and questioning.

It remained unknown what changed hands and what was the financial value of the agreement. Senior market analyst Mati Greenspan also questioned how a “notionally decentralized entity could place under another entity’s control.”

Just two weeks later, in a Tron-Poloniex event live-streamed over Twitter, Sun said he is part of the investor group that acquired Poloniex after initially saying he has no involvement in the same. He appreciated Poloniex, calling it “one of the biggest exchanges in our industry” and stated that he hopes to collaborate with it in the future.

He refused to reveal any details on the collaborations but noted that the investment does not influence his company’s functioning.

Then, on December 1st, the official Poloniex Twitter account outright promoted Justin Sun’s Tron. In a tweet that deleted 28 minutes later, Poloniex encouraged its followers to support Tron by saying, “Let’s buy #TRON.” The move was interpreted as a rock bottom for Poloniex by many and only added on to rumors of Justin Sun’s involvement and investment in Poloniex.

These instances have often done many wonders on any possible partnership between the platforms. With no updates on any such connection from either side, it is only realistic to question Poloniex’s bias for Tron.

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