Cryptocurrency exchange OKEx announced that EOS (EOS) token margin trading will certainly be available soon. OKEx discussed that the move was required to satisfy the public demand and also boost the liquidity of EOS.
According to the announcement, the margin trading sets EOS/USDT and also EOS/BTC will certainly open up from 12:00 September 6, 2018 (Hong Kong Time). Margin trading is the process that permits individuals to area orders with obtained funds. Nonetheless, it additionally triggers the risk of forced liquidations as well as a margin telephone call.
Consequently, the statement had a danger caution, reminding all that the cryptocurrencies are naturally unpredictable: “Trading electronic possessions involves considerable risk and also could lead to the loss of your invested resources. You should make certain that you totally recognize the danger included as well as take into account your level of experience, investment goals and also look for independent monetary guidance if needed.”
It is to be noted that OKEx has displaced Binance to become among one of the most energetic markets for EOS as well as is active on significant crypto exchanges like Huobi and also Binance. Nevertheless, the electronic property is taking an additional rate slump– currently, the BTC rate is listed below $7,000 degree as well as EOS sank as well. It crashed by greater than 20% in the last 1 Day. It is currently trading at $5.05. Nevertheless, the EOS accident is not unique, given that the marketplace is itself bearish as well as various other altcoins also lost around 10-12% of their worth.
In various other information, Ledger, which provides security and also facilities options for cryptocurrencies, stated on Tuesday that it would currently support EOS on its equipment budget Ledger Nano S together with 6 various other electronic properties. Inning accordance with Ledger’s website, EOS accounts could not be included in Ledger Live. Rather, one could mount the application from the brochure in Journal Live onto the equipment purse to handle the digital property with the Fairy-wallet.
A mechanical engineer turned journalist, Shekar takes a keen interest in the study and analysis of cryptocurrencies and blockchain strategy. With the cryptocurrency world blooming in the recent days, he finds great interest in monitoring their growth and gathering every possible piece of information about them. He works as a crypto-journalist for the website Perfect Bitcoins.