Asset Reserves
Exchanges with reserves exceeding 26.22%
46 /100
$44,960,000
STRX$16.92M
Poloniex
Questionable Regulatory License
Basic Information
Country/RegionSeychelles
Exchange AbbreviationPoloniex
Company NamePolo Digital Assets, Ltd
Operating Period10-15 years
Websitehttps://poloniex.com/
Exchange TypeCentralized Exchange
RiskNotice
1 risk alerts
No Regulatory License
Be aware of the risks!
User Feedback
4
I can't understand why withdrawals remain incomplete. When I contact customer service, they only tell me to wait and neither return my funds nor process the withdrawal. Seeking help from customer service only results in being told to wait.!!!
Poloniex is one of the world’s most active cryptocurrency exchanges. But, Poloniex does not have a mobile app particularly for it. The platform is still accessible through your phone, but it might not function as well as it does on other platforms with mobile apps.
Poloniex: Offers over 100 cryptocurrencies for trading.
I started use this with a friend and I invested $10000 dollars I make good profits but when I asked for withdrawal some money there wants that I pay propine for take any money. now they block my platform that I can’t open again.
Capital flows
Exchanges with 24H inflows exceeding 53.84%
7 /100
+$5,006,384.66
10.02% Strong InflowTrading Volume
Exchanges with 24H trading volume exceeding --
0 /100
$869,520,000
18.14% | Currency/Name | Trade | Unit Price | Change | 24H Vol | +2%/-2% Market Depth | Liquidity |
|---|---|---|---|---|---|---|
 | BTC/USDT | $78,970.11 | 2.14% | $420,097,005.94 | $4.93M/$4.28M | 616 |
| ETH/USDT | $2,479.90 | 1.33% | $241,305,338.03 | $5.13M/$5.21M | 599 |
| XRP/USDT | $1.48 | 1.36% | $82,810,730.85 | $25.49K/$262.50K | 289 |
| ZEC/USDT | $705.92 | 0.86% | $64,333,466.47 | $1.19/$14.39K | 119 |
| SOL/USDT | $95.95 | 0.80% | $57,863,528.5 | $645.66K/$358.92K | 410 |
| BNB/USDT | $705.10 | 0.91% | $26,431,796.42 | $6.72K/$20.57K | 159 |
| DOGE/USDT | $0.08939165 | 4.09% | $23,461,920.36 | $234.50K/$249.02K | 349 |
| SUI/USDT | $0.81281494 | 2.61% | $20,037,464.99 | $840.67/$220.50 | 1 |
| AAVE/USDT | $134.19 | 2.87% | $13,779,005.26 | $35.08/$99.28 | 1 |
| TRX/USDT | $0.34517001 | 0.17% | $11,311,354.2 | $99.89K/$36.88K | 311 |
Exchange Overview
Exchange Overview
What Is Poloniex?
Poloniex is a global crypto centralized exchange (CEX) platform backed by Justin Sun, founder of Tron. The exchange provides the following products: spot trading and margin trading, futures trading and perpetual swaps, limit orders, real-time order books, a convenient lending system (P2P lending), crypto staking and a trading terminal.
The exchange lists over 350 cryptocurrencies and tokens, which can be purchased with a bank account, credit or debit card, and ApplePay.
The exchange has an insurance fund and its own crypto community — Poloniex Learn, where guides, educational materials and relevant industry news are available.
Who Are the Poloniex Founders?
The exchange was founded by Tristan D'Agosta (CEO) in early 2013. In 2019, Poloniex spun off its parent company, Circle, to form a new firm, Polo Digital Assets, Ltd., which currently owns the business.
Tristan D'Agosta, also known as Busoni, is a musician with a bachelor's degree from Rutgers University who got into cryptocurrencies, learned to code, and created his own exchange to trade Bitcoin and other digital assets securely. He’s the sole proprietor at Polonius Sheet Music and works for Various as well.
When Did Poloniex Launch?
Poloniex has been operating since January 2014. In 2018, Circle Internet Financial Ltd acquired Poloniex at a valuation of around $400M. In 2019, Circle announced that the exchange would spin out, with the acquisition led by Justin Sun.
Where Is Poloniex Located?
It was originally based in the U.S. state of Delaware. Currently, the exchange is not available in the United States.
Poloniex Restricted Countries
The international exchange has its own geo-restrictions, including the United States, Cuba, Iran, North Korea, Sudan and Syria.
What Coins Are Supported on Poloniex?
The platform lists over 350 assets and more than 200 trading pairs, including fiat currencies. Users can buy, sell and trade BTC, ETH, USDT, TRX, SOL, XLM, DOGE, SHIB, and more.
How Much Are Poloniex Fees?
Poloniex charges fees according to the maker-taker fee model, where 0.01% is charged for maker fee and 0.075% for taker fee. Commissions are directly related to the 30-day trading volume, traders with large volumes receive discounts. The commission level on the platform starts at 0.155%.
Is It Possible To Use Leverage or Margin Trading on Poloniex?
One of the crucial features of Poloniex is margin trading, which allows platform clients to trade with leverage of up to 2.5X. Poloniex Futures offers leverage on all of the Futures products, with leverage up to 100X. Loans at a certain percentage are also available.
Business Region
InfluenceA0
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News
15
Poloniex exit leaves Ethereum stUSDT nearly abandoned
Staked USDT (stUSDT), a protocol that supposedly invests in US Treasury securities to pay yields to users who ‘stake’ their tether tokens, has seen its utilization on Ethereum collapse as Justin Sun-owned Poloniex has exited its position, according to onchain data. Staked USDT is a token that has historically been used by entities and wallets closely connected to Sun, representing a majority of all tethers in reserves at HTX, a cryptocurrency exchange he advises. Additionally, on Ethereum, huge portions of this token were controlled by 0x176F3DAb24a159341c0509bB36B833E7fdd0a132, an address that was previously tagged as “Justin Sun 4” on Etherscan but is now tagged as “Poloniex 9.” Poloniex‘s abject refusal to complete a proof-of-reserves, despite Sun’s repeated promises and insistence on its importance, makes it more challenging to determine if this address is more under the control of Poloniex or Sun, insofar as there is a difference. At times, this address controlled as much as 96% of the total supplyof stUSDT on Ethereum. However, approximately three months ago, the exchange appeared to have requested a withdrawal of approximately $30 million worth of the token. This was followed two days ago by the withdrawal of approximately $11 million worth, and another $9.4 million today. These withdrawals have left the
Justin Sun reveals Poloniex issues prevent proof of reserves
Justin Sun has taken to X (formerly Twitter) to explain that “all exchanges in the industry have already implemented proof of reserves (PoR).” He followed up this pronouncement by further emphasizing that “there is only one explanation for why” exchanges have yet to do it — “they are unable to meet the requirements.” This reveal was somewhat surprising as Poloniex, a cryptocurrency exchange owned by Sun, has not implemented PoR,and as such we are forced to conclude that Poloniex is also “unable to meet the requirements.” Poloniex has a page on its website that claims to be a “Proof of Reserves,” but this page only shows how much Tron is on Poloniex, neglecting every single other asset. These issues become especially interesting in light of the fact that Sun has recently focused so many of his criticisms on the newly launched cbBTC, Coinbases wrapped-Bitcoin product. He has repeatedly emphasized that the lack of disclosure surrounding where the bitcoins are stored represents a fundamental problem with cbBTC. However, again, Poloniex is a problem. Poloniex offers a popular Bitcoin on Tron product that is far larger than cbBTC. This product has a market cap of approximately $6.7 billion, far larger than the $110 millionthat cbBTC represents.
Over 50% of spot trading pairs on Poloniex appear to be ‘dead’
Poloniexs exchange data seen by crypto.news displays what appears to be a partially abandoned platform, with over 500 trading pairs showing no trading volume. Cryptocurrency exchange Poloniex, acquired by Justin Sun in 2019, demonstrates a concerned lack of activity as the majority of all spot trading pairs listed on it barely have any trades at all. According to the exchanges data for spot trading pairs which displays stats for the past 24 hours, 521 trading pairs out of 981 showed less than $1 or even $0 in daily trading volume as of May 13, accounting for approximately 53% of all pairs listed on the exchange. Spot trading pairs on Poloniex with nearly zero in daily trading volume | Source: Poloniex Further analysis of the data highlights a substantial reliance on USDT, the stablecoin issued by Tether, with 810 pairs on Poloniex tied to USDT, representing almost 83% of all spot trading pairs. For comparison, there are only eight spot trading pairs with Ethereum (ETH) and 72 with Bitcoin (BTC) on the exchange, representing approximately 0.816% and 7.34% respectively. You might also like: WBTC loses its peg to Bitcoin on Justin Sun-backed Poloniex Trading pairs with USDT on Poloniex | Source: Poloniex Poloniex‘s heavy reliance on USDT raises
