Huobi Plans To Launch The First EOS-Based Crypto Trading Platform Of The Firm In The First Quarter Of 2019

Huobi Plans To Launch the First EOS-Based Crypto Trading Platform of the Firm in the First Quarter of 2019 Huobi Group recently revealed its plans to launch the first digital currency trading platform of the firm within the first three months of next year. According to the press release which was published on the 29th of December, the trading platform will be dedicated to EOS.

The trading platform will be launched by Huobi Pool – the digital currency mining arm of the firm. In a statement, the CEO of Huobi Pool – Cao Fei – said that the launch of a trading platform dedicated to EOS is “the next logical step in the support of the firm” as an EOS Block Producer (BP).

EOS Can Be Traded with Other Digital Currencies

According to the press release of the firm, the trading platform will allow users to trade EOS against a wide range of digital currencies. Huobi is one of the most popular digital currency trading platforms in the world. The exchange is presently the third largest digital currency trading platform in the world by market volume according to CoinMarketCap. Over the past twenty-four hours, Huobi has seen a trading volume of $774 million.

According to a report by Cointelegraph, the trading platform also added support for EOS (EOS) on its derivative market recently. The digital currency derivative market of Huobi recently broke a major milestone. The twenty-four hours trading volume of the digital currency derivative market of Huobi recently broke $1 billion.

The derivative market of the firm was just launched about a month ago, that is towards the end of November. The derivative market of Huobi has a lot of benefits according to the firm. While presenting the derivative market at the Cryptofrontiers event, Huobi stressed that the derivative market will allow clients to take both long and short positions.

EOS Faces More Criticism about Centralization

Over the past months, EOS has faced a lot of criticisms regarding centralization. In the digital currency space, decentralization is key. Every digital currency is working towards being decentralized. When a digital currency is reportedly centralized, it means it can either be controlled by an individual or a group of people. This is one of the things people are running away from, and it is what Bitcoin (BTC) and other digital currencies actually promised. So when a digital currency is feared to be centralized, it raises so much alarm in the crypto space.

Recently, one of the Block Producers of EOS – Starteos – came out to publicly offer its token holders financial rewards in return for their votes. Huobi was recently accused of running a corruption scheme in the ecosystem of EOS. This has led to further investigations in the EOS ecosystem. The issue among the Block Producers of EOS recently dragged attention to the blockchain project. This has left many to actually wonder whether or not the digital currency is centralized.

EOS Price Today – EOS / USD
Name Price
eos
EOS
$3.695.51%

EOS has been pretty outstanding in the crypto space. The blockchain project is one of the biggest rivalries of Ethereum. EOS provides a platform for the development and deployment of decentralized applications, as Ethereum.

Ethereum has been highly threatened by the emergence of EOS in the crypto space, and EOS is showing no sign of slowing down in its progress. EOS is currently trading at $2.7 after an increase of less than one percent over the past twenty-four hours. The current market cap of the digital currency is $2.66 billion and its trading volume over the past twenty-four hours is $1.01 billion.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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