Time to Exchange | Market Recovery
Written by tojukaka
Cryptocurrencies have been going on a rampage lately. On March 11, 2020, we saw a historic coronavirus-induced Bitcoin dip of over 50% which sent shockwaves of fear across the entire crypto space, shook the faith of many crypto believers and made us question Bitcoin’s status as a safe-haven asset. However, last week came with a new ray of hope as Bitcoin made an amazing recovery which at one point neared 90% and decoupled from the other traditional assets.
It was quite amazing to see the rest of the cryptocurrency market go up with the price of Bitcoin recovering. Bitcoin reached as high as $6,800 last week. At the time of writing this post, the cryptocurrency market capitalization is at $119 billion and Bitcoin’s dominance is at 65.6%.
Major Milestone in EOS
On the 17th of March, 2020, there was a lot of excitement in the EOS community. Yves La Rose, CEO of EOS Nation tweeted that the EOS blockchain has reached a major milestone as it can now process more than 100million unique operations every 24 hours. This is due to an increase in the performance of the network which is a result of block producers enabling support for EOS-VM on their BP nodes.
BOSCore: Blockchain Financial Center
BOSCore — the first IBC equipped DPOS blockchain financial center, published a post highlighting their plans for the year 2020. They have already realized a lot of technical advances but they are not done yet. The 5 special features/advantages of BOSCore include BOS IBC, 3 Seconds LIB, Oracle, Multi-engine and Parallel computing.
EOS WPS criticized by Brendan Blumer
Last week EOS Nation announced their plan for a new Worker Proposal System. On the 15th of March 2020, Brendan Blumer the CEO of Block.one expressed his concerns about the effect the Worker Proposal may have on EOS. He stated that “without a clear or measurable return of value”, the WPS may open the door to corruption.
Dfuse opens up
Dfuse announced the open-sourcing of its blockchain data stack, This release will enable dfuse to contribute its real-time, historical and fork-aware search engine (dfuse Search), transaction push guarantees & lifecycle (dfuse Lifecycle), historical state services (dfuse State), and many more foundational building blocks to the blockchain ecosystem.
EOS versus Eth Defi
The volatility of the markets last week served as a litmus test for the Ethereum and EOS Network. Defi platforms MakerDAO and Equilibrium were confronted with a lot of volatility that made the made of lot of people in the long position to get liquidated. While EOS based Equilibrium survived the test, Maker DOA was left with a few scars and lessons. Alex Melikhov, co-founder of equilibrium wrote a post on Cointelegraph comparing the EOS and Eth price feeds and how both Defi platforms made it through the market turbulence that happened in March.
Time to Exchange
TokenPocket’s TPExchange provides the lowest transaction fees and allows you to freely deposit and withdraw using USDT-EOS. New users can earn a $10 gift when they register on TPExchange and $1 for each person they invite. They also earn an additional 30% commission on their trading fees.
Last week we noticed some arbitrage opportunities on TokenPocket app. There were some differences in the prices of EOS in some exchanges and TPExchange. Savvy traders should be able to take advantage of these opportunities in the future by simply buying from those exchanges and selling at a higher price on TPExchange. Many more opportunities like these may surface in the future. The smart traders would register on TPEXchange!
Registering on TPExchange is simple and can be done with a few clicks especially if you already have the TokenPocket app. For detailed tutorials on how to register, deposit and Trade on TPExchange, refer to the tutorials in the following links.