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Crypto Exchange Huobi to Delist 7 Privacy Coins, Starbucks Partnership with Polygon

Updated: Sep 14, 2022

Daily Market Wrap

  • Crypto market cap: 1.03 Trillion, down 2.53%

  • BTC price stands at USD 22,191, up 1.71%

  • ETH price stands at USD 1,695, down 2.70%

  • Top gainer: Solana (SOL), up 7.65%

  • Top loser: Terra (LUNA), down 24.41%

News of the Day

Why it matters:

  • Huobi will delist seven privacy coins on September 19, namely: Dash (DSH), Decred (DCR), Firo (FIRO), Monero (XMR), Verge (XVG), Zcash (ZEC) and Horizen (ZEN)

  • Deposits have already been ceased on Monday and users are urged to cancel open orders for these privacy coins

  • In efforts to meet compliance policies across over 100 countries, the exchange has ended trading services on its futures, margin, ETP, OTC and trading bot services, and this delisting comes after privacy coins attracting intense scrutiny

Crypto Daily Spotlight

Brief introduction: Polygon is a Layer 2 scaling solution on the Ethereum blockchain. Polygon’s proof-of-stake network allows for low fees and a transaction rate of ~65,000 TPS on a side chain, before being finalised on the Ethereum mainchain. Its native utility token is MATIC. Polygon primarily focuses on increasing DeFi tools and applications by connecting blockchains.

Why it matters:

  • Starbucks plans to offer its customers NFT rewards, which can unlock access to merchandises and events – such as virtual drink-mixing class or a trip to Starbucks’ Costa Rican coffee farm, through Polygon

  • Customers can earn digital stamps, which will be minted as NFTs, by completing challenges and playing interactive games through its app and can purchase limited NFT stamps from the company

  • From September 12, customers and partners can join the waitlist to be the first to receive access to the Starbucks Odyssey experience launching later this year

Daily Sector Tracker

Daily News Roundup

  1. Official EthereumPoW ETHW fork date announced

  2. El Salvador Launches 2 Debt Repurchase Offers Amid Uncertainty Over Its Bitcoin Bond

  3. Hong Kong's HashKey Receives Approval to Manage 100% Crypto Portfolio

  4. Abra Launching First US Regulated Crypto Bank

  5. Layer 1 Blockchain Sui Raises $300M At $2B Valuation

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