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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…