The last two months have been outstanding for EOS, which has witnessed a steady gain. The cryptocurrency, which was on the rise due to a number of exciting developments, outpaced Litecoin to move up. As the market capitalization of EOS skyrocketed, its popularity soared over the last couple of months. The latest price trends, however, have sent shock waves across the crypto community, as the crypto market has been hauled into a sudden depression, sending many well-performing currencies in the red.
Like any other major altcoins in the market, EOS is struggling to recover from a price slump. As per the price trends, the coin is showing signs of a rebound. Although the general sentiment of the market is bearish, there’s some good news for EOS investors. The following segments explore the recent developments on the EOS blockchain.
The CFO of Australia’s Commonwealth Bank to Join EOS Blockchain as a COO
EOS, the Hong Kong-based decentralized platform, which is often considered as a threat to Ethereum killer, boasts an amazing development team. The developers working on the blockchain managed to raise $2 billion in a single ICO offering. Considering the developments on the blockchain, the currency, which ranks 5th by market capitalization, could overtake Ethereum in the coming days.
While the sudden price drop has sparked confusions in the crypto community, EOS is all set to surprise its users with exciting new updates. As per the updates released on May 14, Rob Jesudason, the CFO of the Australian Commonwealth Bank has left the bank to join Block.one. Since Block.one is the developing team behind EOS, this is news for EOS. As per the reports, Jesundason has been appointed as the president and chief operating officer of Block.one. “Blockchain will have a transformative impact on most industries in the coming years and will redefine operating models by streamlining businesses, while also reducing cost and risk,” Jesudason said.
Block.one has generated the EOS tokens that were distributed as initial coin offering in June 2017. This means that the blockchain project will turn one year in the following month. At any rate, there is no better way of commemorating the occasion, as Jesudason’s joining will be a significant development on the blockchain. Speaking of this occasion, CEO of Block.one observed that he sees Jesudason as the perfect candidate for the COO post. The ex-CFO of the Australian Commonwealth Bank, who has been at CBA for over six years, has earlier worked on several other projects, including IFS, Credit Suisse, JPMorgan, Barclays, GE Capital and McKinsey. Block.one’s CEO Brendan Blumer who is happy with the decision, reported, “Rob has a proven track record of success in global financial services, where he has been involved in industry innovation and facilitated regulatory advancement enabling the adoption of new technologies.”
New Developments on EOS Blockchain
While the return of the bullish sign has alarmed many investors, EOS blockchain anticipates some positive changes in the future. The blockchain, which invigorated the traders’ interest by launching new software update, Dawn 4.0, is striving to make some interesting upgrades on the blockchain. Tracing its recent developments, the EOS mainnet launch and the new project called Infinito Wallet have created quite a buzz among investors.
Infinitowallet, which has its headquarters on the Isle of Man, UK, now accepts EOS tokens registrations. This registration process is mandatory to translate ERC20 EOS tokens to its own platform. As of now, Infinito Wallet accepts seven big currencies and tokens that are based on the ERC20 and NEP-5 blockchains. Conveniently enough, Infinito Wallet has launched an app for its project for both iOS and Android users. Operational since 2017 in the UK, Infinito Wallet is on its way to becoming a universal wallet for all types of cryptocurrencies. As reported by Infinito Wallet, the project is one of the first candidates to support EOS’s hyped-up mainnet launch. All the ERC20, tokens which are registered with the EOS ICO, will need to register with EOS before June 1, as the EOS ICO will conclude on that day and any unregistered tokens will freeze.
EOS and the Market
With the cryptocurrency market recovering from a sudden price slump, many top gaining currencies like Tron, EOS, and others are reversing their gains. As of May 16, 2018, the currency is trading at $12.35, with a 13.27% drop. While it is evident that EOS is slowing down, with a stable trading volume and a market cap of $10,608,833,816, the currency is here to rule.
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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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Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
3 Coins with the Largest Potential in 2019
2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
One thing that is expected is the approval of Bitcoin ETFs…
Do or Die: 3 Crypto Projects that Really Need to Deliver Soon
Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.
The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.
However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.
1) Ethereum (ETH)
Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…
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