Cryptocurrency exchange OKEx revealed that EOS (EOS) token margin trading will certainly be offered quickly. OKEx discussed that the relocation was taken to fulfill the general public need and increase the liquidity of EOS.
Inning accordance with the announcement, the margin trading sets EOS/USDT and EOS/BTC will open from 12:00 September 6, 2018 (Hong Kong Time). Margin trading is the process that enables customers to place orders with borrowed funds. Nevertheless, it also triggers the threat of forced liquidations and also a margin phone call.
Consequently, the news had a danger warning, advising all that the cryptocurrencies are naturally unpredictable: “Trading digital properties includes substantial threat as well as could cause the loss of your invested resources. You need to guarantee that you fully comprehend the danger included and also think about your degree of experience, investment goals as well as look for independent monetary guidance if needed.”
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 as well as is active on significant crypto exchanges like Huobi and Binance. However, the digital property is taking an additional cost decline– presently, the BTC rate is below $7,000 level and EOS sank also. It crashed by more than 20% in the last 24 hours. It is currently trading at $5.05. Nonetheless, the EOS collision is not unique, since the market is itself bearish and also other altcoins additionally lost around 10-12% of their worth.
In other information, Journal, which provides security and also infrastructure remedies for cryptocurrencies, claimed on Tuesday that it would currently support EOS on its hardware pocketbook Ledger Nano S along with six various other electronic possessions. Inning accordance with Journal’s website, EOS accounts can not be included in Ledger Live. Instead, one could install the app from the brochure in Journal Live onto the equipment purse to manage the digital 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.