EOS Finally Offered on Coinbase Ahead of June 1 Announcement
The EOS digital asset finally arrives for a wider audience, getting listed on Coinbase.
The EOS (EOS) digital asset will be open for purchase through Coinbase, opening an important inflow of fiat for one of the most innovative networks. However, initial limitations will apply to buyers from the United Kingdom and the state of New York, Coinbase explained on its blog.
The EOS asset was added after Coinbase went on an expansion drive, boosting the representation of altcoins. The network has functioned for about a year, overcoming a handful of early glitches. Currently, the EOS network has shown it can carry above 87 million transactions in 24 hours. The network uses 21 delegated nodes, which produce blocks and also work toward resolving consensus conflicts.
The EOS network also has mechanisms to reverse transactions, which some see as a positive feature, while others criticize as a form of centralization.
The EOS market price is also relatively stable, inviting suggestions that EOS may be boosted by concerted orders. EOS traded at $7.42 as of 7:10 UTC on Friday, keeping the gains of the past weeks despite the 8% drop after the late Thursday sell-off. In the past few days, EOS volumes also reached a record above $4.9 billion’s equivalent in 24 hours.
EOS has also grown significantly in 2019, starting off from lows of around $2.30. Its current price is still relatively low, and quite far from the predictions of $30 as a possibility.
The EOS network also awaits for the weekend announcement, scheduled for June 1 in Washington. So far, the exact nature of the announcement is unknown. What is known, however, is that Block.one bought $25 million’s worth of RAM on the EOS network
Buying EOS through Coinbase may be a suitable on-boarding mechanism, as creating an EOS account is relatively difficult for new users. The Coinbase custody will help newcomers hold the coin with a high level of security, though not in a wallet where they preserve the private keys. But in general, ownership of EOS is contingent on the decision of the governing bodies, which have been known to freeze accounts.