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Regulatory pressure has humbled the once-mighty Bittrex and Poloniex, leaving Binance to rise

“Oh, how the mighty heroes have fallen! Stripped of their weapons, they lie dead.”

This passage from the Second Book of Samuel recounts David’s lamentation over the tragic deaths of Jewish heroes Saul and Jonathan. As described in 2 Samuel, the military veterans, who were once mightier than lions and swifter than eagles, perished tragically: Jonathan in battle and Saul by suicide.

Today, dear reader, in this Mad Crypto column I offer you my own lamentation over the downfall of two once-mighty exchanges: Poloniex and Bittrex.

“Poloniex and Bittrex, once beloved by traders in their early life, now command but a meager share of the market; they were swifter than eagles, stronger than lions … How the mighty have fallen in the midst of the crypto exchange battle.”

Indeed, Bittrex’s share of the market fell from 30% in August 2017 to 2.4% in May 2019.

Join Genesis now and continue reading, Regulatory pressure has humbled the once-mighty Bittrex and Poloniex, leaving Binance to rise!