The situation of Poloniex, a popular crypto exchange which was among the most active and recognized platforms during the market boom in 2017, could be improving.
The crypto trading platform was acquired by the financial firm Circle in February 2018 for $400M. However, things started to go badly soon after, since the exchange, which had become pretty popular during the bitcoin boom in 2017, only achieved a market share of just 1%.
18 months after being acquired by Circle, Circle announced it was separating it way from the company in October in an attempt to become "a competitive and international crypto exchange."
After the split, Poloniex reported that it would focus on non-US traders with the help of a $100M investment from a consortium TRON founder Justin Sun belongs to.
Now, the good news is that Poloniex has experienced a rebound in its market share, reaching more than 2% for the first time in several months. However, it is still unknown whether this recovery is the result of company's new leadership or its zero-fee structure.
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