Poloniex Overtakes Bittrex Following 190% Increase In Crypto Trading

Poloniex, which is one of the oldest crypto exchanges in the global market, has recently overtaken Bittrex in terms of its daily crypto trading volume. In the recent cryptocurrency news, Poloniex is bigger than ever – despite the controversy that was present around the legitimacy of the exchange.

One of the most vital roles here is the presence of Circle – the company which acquired Poloniex in February this year – and raised hundreds of millions of dollars to ‘revive’ Poloniex after acquiring it for $400 million.

In April, the Circle team stated that there was significant progress made in rebuilding the exchange, especially its customer support. Before it, Poloniex had 159,000 pending customer complaints. This is what affected the exchange negatively and caused a decrease in its daily crypto trading volume.

Within seven months, Circle helped to turn around Poloniex, allowing it to climb back to its previous position. With that, Poloniex recently surpassed Bittrex in terms of its daily volume, officially entering the ‘top 20 exchange’ list and holding the 20th place as the most popular cryptocurrency exchange in the world.

In April this year, the team behind Circle said:

“When the Poloniex-Circle integration began in late February, together we faced a backlog of 159,000 customer issues. Over the past 6 weeks, we have resolved 76,000 of those issues and added 6 new agents to our support team. We have tripled the number of engineers working on our wallet infrastructure and streamlined the process for notifying engineering when technical support is needed.”

Right now, Poloniex will have to compete against Binance, Huobi, OKEx, Bithumb, Bitfinex and other leading exchanges for the title of the best one out there and the robust reputation present in this market.