the underlying technology of the crypto world shows resilience in the midst of uncertainty

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In recent years, the global economic outlook has become uncertain due to the COVID-19 pandemic, digital disruptions and geopolitical developments that are making drastic changes to global businesses and financial markets, let alone changing people’s daily lives. In an age of uncertainty, the development of digital innovations, including cryptocurrencies, NFT (Non-fungible token), decentralized finance (DeFi), Metaverse and beyond, has surprisingly accelerated as a majority of crypto-natives and tech-savvy individuals. believe the backbone of cryptocurrencies: the blockchain, which is a distributed and decentralized public ledger that exists across a network.

The power of unity

Bitcoin is the first original case study of blockchain that has proven that the new technology can store information securely without the need for a centralized authority because any additional data will be verified and replicated by a large network of hundreds of thousands of computers, that is. why decentralisation, immutability and openness are the main features of the new technology.

In the new digital world, teamwork and cooperation are the keys, so crypto mania continues in the apparent crypto winter. Whether they are new or old institutional investors, they are still attracted to enter the crypto market at low tide and keep their fingers crossed that prices will bounce back in the crypto spring.

The resilience of a legend

As the old saying goes, Survival of the fittestsomehow, only the most secure and reliable blockchain-based system can stand out in the crowd to weed out bad actors.

Poloniex, one of the world’s oldest and legendary crypto exchanges, is one of them, since it partnered with Polygonthe leading platform for Ethereum scaling and infrastructure development, to promote Web3 adoption after partnering with Phantom Foundationa decentralized application (dApp)-focused blockchain, in March 2022, to help scale the ecosystem to support smart contracts in the future that Investopedia reported.

With its eight-year history in the crypto market, Legend has continuously shown great resilience that it continued to reinvent, recruit new blood and achieve profitability despite the current unpredictable environment, especially during the year-long pandemic.

As the world’s 25 best cryptocurrency exchanges according to CoinMarketCapPoloniex has also witnessed several bullish and bearish market cycles since its establishment in 2014. Following HE Justin Sun’s acquisition in 2019, Poloniex has focused on its diverse global customer base and successfully transformed into a truly international exchange, providing secure trading for millions of cryptos. investors in nearly 100 countries and regions with various languages ​​available, including English, Chinese, Vietnamese, Turkish and Russian, making Poloniex one of the top exchanges by market share in the Asia-Pacific (APAC) region and the Commonwealth of Independent States ( CIS) ), where are the top priorities in Poloniex’s expansion plan.

According to Poloniex’s analysis of crypto market trends in 2022, APAC and CIS are considered emerging markets. As for the latter, the economic growth leads to higher crypto demand despite a mix of political views on digital assets. In addition, the mining industry is very active in the region, which creates a higher level of crypto acceptance. While some countries in the APAC region, such as Japan and Korea, are more mature and have seen a steady growth of crypto users. Moreover, the crypto-ecosystems in these countries have mushroomed to a certain extent regardless of the tightening regulations.

If we further divide the APAC region into different component areas, we will see that there is also a huge potential for futures trading in South Asia that people are taking advantage of cryptomania to diversify their financial portfolios in defiance of political pressure. Meanwhile, Southeast Asia is another potential market for breeding crypto whales, especially in Thailand, Vietnam, Malaysia and Indonesia, as they are more adaptable to cryptocurrencies and other crypto derivatives.

Expand crypto footprint

To expand the aforementioned markets, Poloniex has held several global tours between May and July 2022. The first stop was in Kuala Lumpur, Malaysia, while the second was in Ho Chi Minh City, Vietnam, two of which have attracted nearly 200 crypto- enthusiasts to join together to understand the dynamics of the cryptocurrency market and ongoing movements of the legendary crypto exchange, not to mention exchange ideas with like-minded people.

Poloniex held its second Global Tour in Ho Chi Minh City, Vietnam on June 11, 2022. Source: Poloniex

As mentioned earlier, technology trendsetter Poloniex has had a collaboration with Polygon, which is a startup based in Mumbai, India and the country has fostered many companies to develop blockchain applications and crypto innovations in recent years. Therefore, the crypto markets are still very bright in the country since the Indian government is now formulating policies on Web3 as stated in Financial Express. Therefore, Poloniex will also focus on the Indian market and extend its global tour to Bangalore to introduce a multitude of interesting programs to the local community.

It was a panel discussion with crypto enthusiasts at Poloniex’s first Global Tour in Kuala Lumpur, Malaysia on May 8, 2022. Source: Poloniex

LATAM & MENA, the next frontiers of cryptocurrency

Poloniex’s recent global tours focus on topics ranging from the announcement of the partnership with APEFT marketplace; the demystifications of Web3 and the Metaverse; optimization of the new trading system; the introduction of TRON’s USDD stablecoin; and the referral program to Poloniex Space Traveler etc.

With a great future vision, Poloniex’s upcoming marketing campaigns are not limited to the above countries. Instead, the crypto exchange is now shifting its focus to Latin America (LATAM) and the Middle East and North Africa (MENA) to establish local teams to serve the local communities.

Consumers from Africa, Asia and South America are more likely to own or use cryptocurrencies according to Statista Global Consumer Survey in 2021which combined 55 different research reports to identify the countries where cryptocurrencies are most popular.

As shown in the findings, 42% of respondents in Nigeria – almost 1 in 3 mentioned having used or owned some type of crypto last year, keeping the African country at the top of the list. Meanwhile, Kenya is another African country on the list, as shown in the table below. Also, Thailand comes in second, followed by the Philippines and Vietnam. While Argentina is the only country in Latin America to break the top ten.

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