Time to Exchange | Quarantine in the Crypto Markets
Written by tojukaka
Social distancing, lockdown, quarantine and a high level of personal hygiene are ways that humans all over the world are uniting to fight the coronavirus pandemic, while the medical personnel takes their stand in the frontlines. There is a possible cure for the virus now and this brings hope. But the battle is far from over as looming fears of the negative effects of governments’ money printing lingers in the markets. How are people coping in this quarantine season? How is the quarantine affecting the crypto markets?
This week’s edition of Time to Exchange focuses on some market analysis from last week, some exciting news from the EOS network and the effect of quarantine on people’s interest in cryptocurrencies. Is quarantine a time to exchange?
Market Analysis
Source: Coinmarketcap.com
The Bitcoin market opened at approximately $5,800 last week and closed at about $6,200, with a market cap of approximately $114 billion. Last week we saw that the US announced a stimulus package of 2 trillion dollars for individuals and small businesses. This is the biggest economic stimulus package in history.
Following this announcement, Bitcoin rallied up to last week’s high of $6,892.51 USD but didn’t maintain the momentum. At the time of writing this post, the price of Bitcoin is around $6,273, having recovered from a dip of $5,913, which is close to the last week’s low of $5,812 USD.
As usual, the price movement of other cryptocurrencies (altcoins), maintained a close relation to the price movement of Bitcoin.
News
EOS Community loves the EOS Nation WPS proposal
On Tuesday 24th of March 2020, EOS Nation announced that they executed the first of four MSIGs required to implement the proposed Worker Proposal System on EOS! The MSIG was heavily supported by other block producers in EOS, amassing 34 votes (19 from the top 21 and 15 from standby BPs) and creating a new record for the most accepted MSIG in EOS.
Source: EOS Nation
Block.one hires EOS NewYork Team
Block.one announced on Wednesday, March 25, 2020, that the EOS Newyork team will be joining them to help the Block.one team with engagements with public blockchain communities and represent them as a token holder these public blockchains. To this effect, EOS new york has ceased all operations as a block producer and unregistered as a block producer in EOS and other blockchains.
EOS New York unregistered as an EOS BP: Source: bloks.io
EOS VM is live on EOS
All the top block producers in EOS are now running EOS VM (EOS Virtual Machine) on their nodes. This upgrade was particularly difficult to implement and involved a lot of coordination from the BPs. It was gradually implemented. EOS is already the fastest and most scalable blockchain in existence, able to process over 100 million transactions in a day and it only gets better with this full implementation of EOS VM.
Time to Exchange
One positive effect this corona induced quarantine is that people, now stuck with their families, can spend more time together. It’s a great time to start rebuilding intimacy with the people that really matter.
CEO of Cypherglass now spends more time with her brother. Source: Twitter.
Another positive effect is that there is a rise in the number of online searches for Bitcoin and cryptocurrencies. As reported by Cointelegraph, Baidu (the Chinese search engine) has seen a 183% increase in searches for Bitcoin in the past 30 days. The same scenario is also seen in the west as the Google searches for Bitcoin in the US hit its 30-day high on March 13.
Now that people are grounded at home, and looking for alternative ways to make money online, ways to protect their assets from impending inflation, or ways to get busy, it’s time to exchange. There’s never been a better time to start trading and investing in cryptocurrencies and TokenPocket is one of the best tools for this.
TokenPocket provides a user-friendly app that allows people to easily store, send or receive and trade or invest in cryptocurrencies.
With the TPExchange in the TokenPocket app, users are able to trade with ease and with high liquidity. It is fast and easily accessible. It has low transaction fees and you even get free deposits and withdrawals (using USDT), and a $10 gift for signing up.
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.
Start your journey of discovery
- Download TokenPocket from App Store or Google Play
- Go to [Discover] > [DApps]
