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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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Altcoins

Analyzing The Best-Performing Cryptos

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cryptos
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Over the nebulous first half of this year, some tiny cryptos were able to grow by more than 1000% and reach the desired top 100, while others that were already in the top 50 bastions simply zeroed. What factors led them to perform like this? Luck, external factors or well-made decisions?

First of all, it is important to clarify that it would be unwise to analyze them disregarding the market context (crypto and non-crypto) of the period, so we’re using a holistic approach.
In our timeframe, considering the traditional market cycle of emotions, in contrast to the standard chart below, the euphoria quadrant had a much larger peak and a much shorter duration, starting in the middle of 2017 and ending at the beginning of 2018, while we were stuck in the period of “excitement” since, maybe, 2015. The emotions in red passed in a rush and at the end of July, we were already in deep “despondency”.

Source: https://russellinvestments.com/ca/insights/the-market-cycle-of-emotions

Besides to the fact that the market completed half of the cycle in less than half a year, some very relevant things, besides the usual phenomena expected of an investment market, happened during this period. In addition to the hype the period enjoyed and the fact that bad, inexperienced investors were frantically joining the crypto market, we…

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Is Tether (USDT) really a stable coin?

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Tether
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Tether is one of the top digital assets in the crypto-sphere. The coin was launched in November 2014 after it changed its name from Realcoin so that the crypto community doesn’t associate it to the altcoins. It is important to know that Tether is a currency that helps to convert fiat currencies into digital currencies.

Moving forward, there have been lots of FUDs around Tether these days as regards to whether it is going to be a truly stable coin as the market has seen dips lately. Also, the FUDs around Tether have raised questions on whether there are any backings to the digital asset.

It is crucial to know that other factors have been attributed, and one of them was a report from last month that stated that Tether and Bitfinex, had gone their separate ways with Noble Bank. The separation made Bitfinex suspend fiat wire deposits – without no reason or whatsoever.

Tether, in regards to market worth, comprises about 92 percent of the market capitalization of stable coins. Also, this stable coin offers two purposes: to stabilize the volatility of Bitcoin, and also to preserve the amount of money purchasing power investors have at hand when the value of larger cryptocurrencies such as BTC drops.

The coin is a good alternative for traders when trying to cash-in on fiat currencies, as we do know that trying to move money from different exchanges to fiat…

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Blogs

TRON Partnership Involves Cloud Computing

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TRON partnership
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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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