Cryptocurrency exchange OKEx introduced that EOS (EOS) token margin trading will certainly be offered quickly. OKEx pointed out that the action was taken to meet the public demand as well as raise the liquidity of EOS.
Inning accordance with the statement, the margin trading sets EOS/USDT and also EOS/BTC will open up from 12:00 September 6, 2018 (Hong Kong Time). Margin trading is the procedure that allows customers to area orders with borrowed funds. Nevertheless, it additionally triggers the threat of forced liquidations and also a margin call.
Therefore, the news had a risk warning, reminding all that the cryptocurrencies are naturally volatile: “Trading electronic properties involves substantial danger and could cause the loss of your spent funding. You should make sure that you fully understand the danger involved as well as think about your level of experience, investment goals and also seek independent economic suggestions if essential.”
It is to be kept in mind that OKEx has actually displaced Binance to become one of one of the most active markets for EOS and is active on major crypto exchanges like Huobi and also Binance. Nevertheless, the electronic possession is taking one more price decline– presently, the BTC rate is below $7,000 degree and EOS sank as well. It collapsed by more than 20% in the last 24 hours. It is presently trading at $5.05. Nevertheless, the EOS crash is not special, considering that the marketplace is itself bearish as well as other altcoins additionally shed around 10-12% of their worth.
In other information, Ledger, which provides security as well as framework remedies for cryptocurrencies, claimed on Tuesday that it would now support EOS on its hardware wallet Journal Nano S along with six other digital possessions. According to Ledger’s site, EOS accounts could not be contributed to Journal Live. Instead, one could set up the application from the brochure in Ledger Live into the equipment pocketbook to take care of the electronic possession with the Fairy-wallet.
Krishna Teja Reddy is a crypto enthusiast and a market analyst. He is specializes in market analysis and strives to provide accurate crypto market statistics to the crypto community and cryptocurrency investors. He focuses on delivering quality news stories to him readers and aspires to be a successful business journalist.