EOSfinex goes live trading in four pairs

EOSfinex goes live trading in four pairs

On July 30 the developer team of a non-custodial cryptocurrency exchange platform EOSfinex announced that the EOSfinex had gone live into fully functional operating mode.

EOSfinex combines the fast speed and scalability of EOS project with leading Bitfinex’s industry trading platform experts are resulting in an on-chain trading exchange built around fast speed, transparency, security and control, the team said on Twitter social media. "EOSfinex goes live trading in four pairs"

EOSfinex goes live trading in four pairs

EOSfinex trading is positioned as the first scalable exchange ecosystem based entirely on the EOS based protocol.

According to the developers, the platform performs a decentralized exchange of cryptocurrencies. It means that the EOSfinex is not engaged in orders processing and coins storage. These operations are performed on a blockchain.

with an overall comprehensive understanding of the buying demands of professional crypto traders, with EOSfinex exchange, replicates and exceeds the current trading standard of cryptocurrency exchanges to set a new standard for cryptocurrency trading.

So now, there are four trading pairs on the EOSfinex platform: RAM/USDT, EOX/USDT, EMT/USDT, and EOS/USDT. The EOSfinex supports several types of orders and allows connecting directly with accounts in the EOS wallet or through a Scatter wallet.

The beta version of EOSfinex exchange was launched on March 28/ Initially, the trading was scheduled to start on July 25 but it was postponed as the platform "needed further improvements".

Due to the uncertain Cryptocurrency regulatory environment behavior, California-based crypto wallet service Abra wallet has restricted American crypto users from holding five cryptocurrencies, including EOS Coin, after August 29. EOSFinex exchange, the EOS-based decentralized cryptocurrency exchange by Bitfinex, has completed its beta phase and is expected to launch on July 30.  

The EOS/USD pair broke below $3.8723 in the week before but it quickly climbed back to close above the critical support. This shows buying at lower levels but demand dries up at higher levels, hence, the price has failed to bounce sharply from the support. 

Currently, price bulls are attempting to hold support level. If successful, the Cryptocurrency might try to rise back above the moving averages and rally towards the recent highs of $8.6503. Both moving averages have flattened out, which points to a consolidation in the next few weeks.

However, contrary to our predictions, if the EOS price plunges below $3.8723, it might descend to the next support at $1.55. If this support breaks, a new downtrend will start, which will be very negative. We suggest traders wait for the price to break out and close (UTC time frame) above 20-week EMA before buying with a stop loss of $3.20.

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