Singapore-based crypto exchange Huobi is in our blockchain news today after the announcement of the plans to launch the first crypto exchange dedicated to EOS in Q1 of 2019.
The new EOS-dedicated exchange will be launched by Huobi Pool which is the company’s mining branch. The CEO of Huobi Pool Cao Fei said that by launching the exchange the company is taking the next ‘’logical step’’ as EOS block producer supporters.
EOS will be available for trading against other cryptocurrencies according to the press release of the company. Huobi is among the third-ranked crypto exchanges based on volume with about $773 million over a 24 hour period.
The exchange also announced their support for EOS after the daily traded volume on Huobi’s crypto derivative market breached the $1 billion range.
Huobi’s derivative market was launched in November and the company pointed out that there is a huge advantage of the derivative market since the customers will get the chance to take short and long positions.
However, EOS was criticized to be overly centralized. There are also allegations that Huobi is running a corruption scheme and that the exchange is faking the trading volumes. Huobi Group, on the other hand, also confirmed plans to “optimize” its staffing by firing underachieving employees. To make things more neutral, the company has previously stressed that it continues to onboard staff “for its core businesses and emerging markets.”
In the meantime, EOS is showing one of the most amazing performances but there is no clear explanation for today’s rise. EOS increased up to 16 percent last week and is still going well. Coinbase is even considering adding the stablecoin to its platform.
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