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EOS Welcomes a New Team Member

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EOS
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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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