Cryptocurrency exchange OKEx announced that EOS (EOS) token margin trading will be readily available soon. OKEx mentioned that the move was required to satisfy the public demand and also enhance the liquidity of EOS.
According to the announcement, the margin trading sets EOS/USDT and EOS/BTC will open up from 12:00 September 6, 2018 (Hong Kong Time). Margin trading is the process that enables individuals to place orders with obtained funds. Nonetheless, it additionally triggers the risk of forced liquidations as well as a margin telephone call.
As a result, the statement came with a threat warning, reminding all that the cryptocurrencies are naturally unstable: “Trading digital assets involves considerable risk as well as could result in the loss of your invested capital. You should make certain that you fully comprehend the danger involved as well as take into consideration your level of experience, financial investment goals and also look for independent financial guidance 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 as well as is energetic on significant crypto exchanges like Huobi and also Binance. Nonetheless, the digital property is taking an additional price decline– currently, the BTC price is below $7,000 degree as well as EOS sank as well. It crashed by greater than 20% in the last 24 Hr. It is presently trading at $5.05. However, the EOS crash is not one-of-a-kind, because the marketplace is itself bearish and also other altcoins likewise lost around 10-12% of their worth.
In other information, Journal, which provides security as well as facilities services for cryptocurrencies, stated on Tuesday that it would now sustain EOS on its hardware budget Journal Nano S along with six other digital assets. Inning accordance with Journal’s site, EOS accounts can not be added to Ledger Live. Instead, one could mount the application from the catalogue in Ledger Live onto the hardware budget to take care of the digital asset 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.