EOS (EOS) Gains Extra Liquidity with Upcoming OKEx Margin Trading
EOS has been considered liquid enough to offer the riskier option of margin trading on one of the most active Asian exchanges.
EOS (EOS) trading on OKEx will soon receive a boost of liquidity from margin trading, a tool available for Bitcoin and assets deemed liquid enough.
The trading will be available in the EOS/USDT and EOS/BTC pairs, starting from September 6, 12:00 Hong Kong time. The launch of EOS came with a risk warning, reminding that cryptocurrencies and tokens are inherently volatile:
“Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.”
Margin trading allows placing orders with borrowed funds, but also causes the risk of a margin call and forced liquidations.
OKEx has recently established itself as one of the most active EOS markets, displacing Binance. More than 12% of all EOS trading is concentrated in the EOS/USDT pair. The share of USDT in EOS trading remains significant, expanding to more than 42% of all volume. In the past, EOS saw significant volume against Ethereum (ETH), but now speculation has arrived on crypto-only exchanges that carry USDT.
EOS is also active on Huobi and Binance. But the asset is taking another price downturn, as BTC prices slid toward the $7,000 level. EOS sank as well, crashing by more than 11% within one hour, from around 6.49 down to $5.82. The crash of EOS is not unique, as other altcoins lost around 10-12% of their value within minutes. EOS also fell against BTC, down from 87,000 to 83,000 Satoshi range.
EOS trading volumes remain around $700 million per 24 hours, though surpassing $1 billion on certain occasions over the past month. This makes EOS one of the most actively traded assets, as BTC trading moved between $4 and $5 billion in 24 hours.
On a positive note, lower EOS prices and lower RAM prices may make the building of distributed apps more accessible. EOS RAM has fallen below 0.12 EOS per kilobyte, and hoarding has abated. Around 61% of available RAM is utilized, down from around 87% when hoarding happened in the early days of speculation.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.