As the crypto market enters into a profit, recovering from a major price slump, some of the top altcoins are witnessing smashing gains. Speaking of the crypto rally, the EOS market has been on the winning side. Much to investors’ delight, the price of EOS gained 15 percent on Tuesday, overthrowing its contenders to win the top spot in the uptrend.
As per the price records, the overall value of EOS moved from $13.40 to $11.71 on Monday. The uptrend, which began in the last week, has reached a new height this week. With over 15% surge, it has grabbed the second-best spot in the crypto rally.
EOSDAC Airdrop: The Catalyst for EOS’ Price Hike
Going by the general trend of the price movement, the value of a coin soars high during an airdrop event and drops once it occurs. While much of the credit of the price hike can be given to the much talked about EOSDAC airdrop, it’s important to appreciate other major factors which have helped to sustain the performance.
South Korea Observes Kimchi Premium as EOS Peaks the Price Chart
The upsurge of this popular altcoin also coincides with a surge in the trading volume in South Korea, where it is trading at a high of $0.16 on international exchanges. Going by the figures, the EOS/KRW pairs on exchanges like Bithumb and Upbit are responsible for the steady $629 million price volume. When compared to Kimchi Premiums observed on trading platforms in South Korea, this one is not so severe. However, the spread between KRW and other trading pairs signals the rise of local demands of EOS as the overall crypto market gears up for a bull run.
Huobi to Tie up With EOS Blockchain
If you are an EOS investor, you must be familiar with the talks of a partnership between Huobi and EOS blockchain. As per the latest news, Huobi pro has disclosed that it is looking forward to becoming a block producer on the EOS blockchain. Based in China, Huobi Pro is regarded as the third largest crypto exchange in the trading world. With trading volumes of around $2 billion, at the time of writing, EOS tops the list of the most promising altcoins. Like any other popular currencies, EOS allows its investors to use smart contracts; the only difference is that it relies on a consensus model which is also known as delegated proof of stake. By definition, the proof of stake model signifies the mining power in a blockchain powered by tokens held by users/nodes. Unlike other traditional systems, this technology breaks the monopoly by offering suitable incentives.
eToro Lists EOS Ahead of Its Upsurge
With the price Bitcoin recovering from a major setback, it has been a big year for the altcoins so far. As a major competitor in the field, EOS has armed itself with many exciting updates to outpace its oppositions. As evident from the recent developments on EOS blockchain, this rising altcoin is all set to embrace the bull run.
In response to the growing demands of altcoins, many significant exchanges are adding lesser-known currencies. With EOS heading towards a major price rise, the news of its listing on a popular exchange did not come as a surprise to investors. As per the latest updates, eToro, a renowned exchange for trading cryptocurrency, has listed EOS to its platform. Backed by 9 million users, eToro features among the leading destinations for investing in cryptocurrency. Apart from facilities like the opportunity for investors to invest in more than 1,500 financial assets, eToro also permits its users to copy the trades of the seasoned traders. Its CopyFunds option, which enables users to access killer investment portfolios, is something to watch out for. As of now, the platform allows investors to access all the leading currencies like Bitcoin, Ethereum, Bitcoin Cash, Ripple, Ethereum Classic, and Dash, apart from the latest addition, Dash.
In the light of the recent developments, EOS comes across as a potential threat to the big market players. Events like EOSDAC airdrop, listing on eToro, and Huboi’s plan to join EOS blockchain as a block investor, are major influencing factors at the moment. Overall, the EOS market has witnessed a positive growth in the last few days. Trading at $14.17 at the time of writing, the market capitalization of EOS stands at $11,545,322,629. Going by the price trends and its positive market response, EOS can be the next big thing in the crypto space.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…