Do your thing Poloniex, I'm fine with it...

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If you haven't read about it today through any of your following steemians you should know that Poloniex which is a $25 million plus per day in trading volume crypto exchange has decided to delist STEEM from its platform by October 15. It's not the only one having the faith of no longer being listed on the US based exchange after the date but from what I read on some blog posts in here, STEEM is the only top 100 coin that will be delisted.

So what... I said to myself. Let it delist STEEM. Some holders will probably exchange their STEEM to other cryptos, some will probably take it back to their Steemit wallets and some will probably power up while there is also the option of a good amount of STEEM to be burned by Poloniex itself as gadrian@gadrian wrote about in his latest post which I encourage you to read.

There is something though that makes me not care that much about this delisting, although I am a Poloniex user, and that is the daily trading volume of Poloniex for STEEM. Currently it only "plays" with 0.46% from all the STEEM that is being held by crypto exchanges around the world while Bithumb rocks it with over 95% of the daily traded volume which is translated to $19,168,337 in STEEM/KRW per day.

So, again Poloniex ,do your thing if you consider a top 100 cryptocurrency to be delisted out of your exchange. I wouldn't do that but it's not my decision. I did exchanged however some STEEM a few months ago on Poloniex and their volume and the speed taken for my orders to be filled was not great at all. Hence I consider that the dump correlated with the news and delisting will not be a strong one although the whole market is heading up while STEEM is bleading a bit for the moment.

On the other hand I feel that having less exchanges to dump STEEM on people will feel less likely to do that. I for example won't bother anymore to send liquid STEEM on Poloniex and have them at hand for exchange at some point in time thus I am not tempted that easy anymore to sell STEEM as I was before. There is of course Binance that can help me with that but I rather wait to see how the market will behave in the months to come before taking any action. I don't even have much STEEM to sell so I can cause a disaster so don't worry about me :).

Bottom line I don't see this news as a worrisome one and I believe at the same time that with this #newsteem affecting people in a positive way, STEEM the crypto, might finally end its suffering and get back on its way up. That's how I see it. It will take some time of course but it's not over yet. Oh, and another thing, you know that when one door closes another one opens. Maybe some other exchanges will look into STEEM and list it once we get back on track, maybe with a USDT pair as well so we might get even more exposure in the future. Keep up the good vibe guys and don't let Poloniex put too many clouds on our skies. It's still a sunny October.

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Thanks for attention,
Adrian

Do your thing Poloniex, I'm fine with it... | Ecency