EOS becomes biggest gainer among top-10 club; news comes on the back of Coinbase announcement

The cryptocurrency market’s confused state of mind has witnessed some coins ride the bullish wave while others are still under the paws of the bear. EOS, which had earlier been thumped by the bear, has risen from the ashes by growing in double-digit numbers.
At the time of writing, EOS was going up by 10.02% with a total market cap of $1.763 billion. The cryptocurrency was trading for $1.95 with a 24-hour market volume of $861.220 million. A majority of EOS’s trade volume was held by OKEx, which had a grasp on $104.145 million of the total trade.
EOS 24-hour chart | Source: CoinMarketCap
OKEx was closely followed by DOBI trade, which controlled $7.87$ of all EOS transactions. What makes EOS’s rise so significant is the fact that just a few days back, the cryptocurrency was the biggest loser among the top-10 cryptocurrencies, sliding by a massive 20%.
EOS was also given a boost recently when the cryptocurrency was decided to be one of the coins that will be listed on Coinbase. The world’s largest cryptocurrency exchange had announced:
“As we announced in September, Coinbase’s goal is to offer support for all assets that meet our standards and are fully compliant with local law. Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap.”
Other top-ten cryptocurrencies that were listed by Coinbase include Stellar Lumens [XLM] and Cardano [ADA]. Coinbase further stated:
“Our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet. Finally, as per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, which allows us to add assets efficiently and responsibly.”
 
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Source: AMB Crypto

XRP, Cardano [ADA], EOS among 30 other cryptocurrencies to be listed on Coinbase

Christmas might just have come early for Coinbase users, as Coinbase, the poster child for cryptocurrency exchanges, is considering adding more cryptocurrencies to its already existing trading lists.
As per their recent Medium blog, Coinbase stated that it is considering adding assets like XRP, Cardano [ADA], EOS, Ziliqa [ZIL], and others.

The blog stated:
“As we announced in September, Coinbase’s goal is to offer support for all assets that meet our standards and are fully compliant with local law. Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap.”
The assets which are to be listed on Coinbase will be evaluated against their Digital Asset Framework to check if the assets fall under the regulatory framework.
However, the blog also stated that it would consume a lot of time and effort to run background checks and add these assets to their trading list, and made it clear that not all the assets mentioned would make it to the final list.
Furthermore, the blog stated:
“Our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet.
Finally, as per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, which allows us to add assets efficiently and responsibly.”
It also noted that some of the assets would be available everywhere, while some of them could be restricted to certain areas due to the laws pertaining to the particular digital assets in that area/city.
The cryptocurrency community seemed excited about the Coinbase announcement on Twitter, to add about 30 digital assets.
A Twitter user intelliBrain replied:
“Finally I can see beautiful green grass on the other side of the fence – and $xrp ! #xrp #ripple #xrpthestandard”
Another user Darth@Ripple commented:
“Explore??
You should already have add the number 2 and soon the number 1 currency. The most decentalised currency you can buy. What ‘s keeping you up??”
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Source: AMB Crypto

Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

CoinSpeaker

Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

Coinbase is exploring a possibility to add support for a list of 31 coins, including XRP that is currently the second-largest cryptocurrency by market cap.

Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

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Source: CoinSpeaker

EOS slips by 31% over seven days; acts as feast for the hungry bears

EOS, the sixth largest coin on CoinMarketCap list slipped by 10% on December 4 and ever since has been on a downward spiral.  The coin was enjoying last week along with the other major currencies on the green pastures but has now been subjected to the wrath of the bear.
Source: CoinMarketCap
According to CoinMarketCap, the coin plunged by 31.16% over the last one week, at the time of press. EOS was trading at $2.38 with a market cap of $2 billion. The coin registered a 24-hour trade volume of $840 million.
However, the coin saw a 0.01% growth in the past hour, at the time of press.
According to the maximum registered trade volume, DOBI trade reported the highest 24-hour trade volume of $110 million with EOS/BTC pair. The second place is occupied by OKEx with a trading volume of $77 million with EOS/USDT pair, at the time of press.
DOBI trade and OKEx are followed by DigiFine which reportedly registered 24-hour trade volume of $49 million with EOS/USDT pair.
A few days earlier Daniel Larimer, the creator of Bitshares, sent a message that disturbed the EOS community. In his message, Larmier informed his followers that he will not be abandoning EOS and Block.one, but he discovered a project that according to him is a potential crypto token.
EOS also made new when EOSBet acquired accreditation from Curacao, one of the world’s oldest online gambling regulators. EOS manager Frej said:
“We’ve worked relentlessly to make this license succeed and we will continue to strive to be the standard for smart casinos”.
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Source: AMB Crypto

Bitcoin Drops Nearly 5%, Approaches 2018 Lows Amidst Market Sell-Off

After being unable to stabilize above the important psychological price level of $4,000, Bitcoin has continued to sell-off and is now approaching its 2018 lows. Bitcoin’s latest leg down has led to a widespread market drop that has seen many altcoins drop 3% or more over a 24-hour trading period.
At the time of writing, Bitcoin is trading down 4.65% in 24 hours at its current price of $3,786. Today’s drop was not unexpected, considering that it was unable to stabilize above $4,000, and was slowly pushed into the $3,900 region by the bears.
Despite the markets being incredibly weak presently, they could be nearing another good entry zone for traders looking to profit from a relief rally, and one analyst claims that there is more upside than downside.
“Bitcoin continues flirting with the $4k level as it struggles to find its footing following the latest selloff. But given how far we fell, at this point there is more upside than downside. That said, few things move as far and as fast as cryptocurrencies,” Jani Ziedens of CrackedMarket explained to MarketWatch.
As Bitcoin faces continued downwards pressure, investors will likely look towards Bitcoin’s current 2018 low as the first level of support, which currently exists around $3,600. If this level maintains as support, it ultimately could become a long-term bottom.
Related Reading: Institutions Still Bullish on Crypto: Grayscale Owns 1% of All Bitcoin
Altcoins Drop, Led by Bitcoin Cash
Bitcoin’s latest drop has led to a bloodbath in the altcoin markets, with multiple altcoins trading down over 10%.
Bitcoin Cash (BCH) and EOS have both been today’s worst performing altcoins and are trading down 13% and 10.7% respectively.
Bitcoin Cash has set a fresh all-time-low around its current price point of $134 and is currently trading down 80% from its one-month highs of $630, which was set one week prior to its hard fork event that occurred on November 15th.
EOS is currently trading at $2.23, down 61% from its one-month highs of $5.72 which were set in early-November. EOS has been facing controversy surrounding an EOS block producer offering money for votes, negating the decentralized nature of the EOS network.
XRP is currently trading down over 4% at its current price of $0.34, down from its weekly highs of nearly $0.40. XRP has been performing relatively well in the current bear market, and is one of the few altcoins that is trading above its 2018 low.
In August, XRP fell to around $0.25, and ranged near this price for the rest of the month, and is currently trading up approximately 36% from this low. XRP’s good performance, relative to the current markets, has secured its position ahead of Ethereum as the number two cryptocurrency by market capitalization.
Ethereum is currently trading at just over $104, and is just 4% over its 2018 lows of $100.
As Bitcoin continues moving downwards, investors should watch for how it responds to $3,600, which is likely the first level of support stopping Bitcoin from setting lower lows.
Featured image from Shutterstock.
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Source: New feedNewsBTC.com

Bitcoin Holds Steady Around $4,000, Cost of Mining Continues to Drop

Following yesterday’s market turbulence that sent the cryptocurrency markets down towards their 2018 lows, Bitcoin appears to have established the $4,000 region as a level of support. Some analysts expect that the cost of mining may be playing a role in the current market conditions.
At the time of writing, Bitcoin is trading up over 3% at its current price of $4,000. Although its price has not yet responded bullishly to this price region, it has held as support for the past couple of days and may prove to be a significant support region in the future.
It is reasonable to assume that the primary price level to watch for over the coming days and weeks is $3,600, which is Bitcoin’s recently established 2018 low. When BTC first fell to this price in late-November, it rallied up to over $4,000 before drifting back down to these regions, at which time $3,600 sparked a relief rally (or a so-called “dead cat” bounce) that sent its price to highs of $4,400.
Many analysts have speculated that the increasing unprofitability of mining Bitcoin could be adversely affecting the markets, as some models suggest that the cost of mining one Bitcoin is currently $4,500, which is more expensive than the Bitcoin itself is worth.
However, data suggests that as Bitcoin’s price drifts lower, miners are actually seeing increasing mining profitability, despite still losing money.
While speaking to MarketWatch about the current cost of mining, Sam Doctor, the head of data science at Fundstrat Global Advisors, said that miners are getting some reprieve from the losses incurred from mining, due to a combination of more efficient mining devices and lower cryptocurrency prices.
“Our model suggests the cash cost of mining each BTC on the Antminer S9 is now $4,500, down from $5,300 in September… Depreciation expense has fallen to $1,300 vs. $2,000 in September, reflecting a lower rig cost as newer devices have come to market. Fully loaded breakeven is now $5,700, compared with a breakeven of $7,300 in September,” Doctor said.
Related Reading: Cryptocurrency Market Update: Real Recovery or Dead Cat Bounce?
Altcoins Trade Mixed Amidst Bitcoin Stability
Although Bitcoin has proven to be stable around the $4,000 region, the altcoin markets have experienced mixed trading over the past 24-hour trading period.
At the time of writing, Ethereum (ETH) is one of the best performing altcoins, trading up over 3% at its current price of $111. ETH is currently up over 11% from its 2018 lows and appears to have established the $110 region as a possible level of support.
Bitcoin Cash and EOS are two of the worst performing major altcoins today, trading down 3.3% and 4.4% respectively.
Bitcoin Cash is currently hovering right around its all-time lows, which were first breached in late-November when its price crashed below the $200 level. Although the markets have played a huge role in BCH’s poor performance, its downwards spiral was sparked by its hard fork event that occurred on November 15th.
EOS is currently just a hair above its 2018 low of $2.40 and is currently trading down 4.4% at its current price of $2.46. EOS is trading down significantly from its weekly highs of $3.36 and is down 57% from its one-month highs of $5.73.
Featured image from Shutterstock
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EOS Centralization Woes Return as Block Producer Offers Money for Votes

The EOS network is decentralized until it is not.
A block producer for the EOS blockchain has publicly engaged in a money-for-vote activity. Starteos, as the node is called, announced that delegating its node as a proxy would allow users to earn a stable income in EOS tokens. As the node is originally a game launched on the top of the EOS blockchain, it also offered its potential delegates “the corresponding amount of general game tokens,” which they can use to play Lucky Fruit Slots Machine and [again] receive revenue in EOS tokens.
“Users could not only gain revenue through mining mode but also gain revenue through game mode. EOS mining mode is simple, stable and with nice revenue; the game mode maybe is more profitable and fun to play. Since we offer idle games, there is no loser in the game world of Starteos,” – the EOS node declared openly.
The whole advertisement appears in contrast to what EOS promised in its original whitepaper: an easily scalable and decentralized and democratic blockchain network. However, the project has faced criticism for limiting the rights to add blocks to only 21 nodes. Each of these nodes is selected upon a democratic voting process. In a way, the reason why a transaction on an EOS blockchain should appear faster than others is that it doesn’t have to be confirmed by the entire network. Users directly elect 21 representatives to do it for them.
However, an ideal decentralized network contains thousands of such nodes, confirming transactions and adding them to their respective public ledger. The process remains dependable unless a single entity gains control of more than 50% of the blockchain network. In a system that is primarily distributed, it is unlikely to happen.
In the case being discussed, Starteos is one of the 21 nodes engaged in offering EOS rewards to users who vote for its node to stay in power. The practice leads to a bad experience for competing nodes that have a smaller number of EOS coins, indicating that only wealthy entities would govern the EOS network down the road.
EOS Price Tumbles
The EOS rate against the US Dollar, meanwhile, has dropped by more than 10% in the past 24 hours, trading at 2.55 at press time. While the correction appears to be in line with an overall market trend, the losses EOS/USD is facing is way more than what met by other top coins. For instance, Bitcoin Cash, the second worst-performing top coin on a 24-hour basis, has dropped 6%. Bitcoin, the largest digital currency, is stable after noting only 0.5% drop within the same timeframe.
SOURCE: COINMARKETCAP.COM
A direct correlation between Starteos’ announcement and EOS price drop cannot be established due to a week-long difference between the two events. However, the news could hurt the long-term prospective of the network unless it improves upon its infrastructure to make its platform more decentralized as originally promised.
 
Image from Shutterstock
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EOS Block Producer Openly Pays People for Votes

CoinSpeaker
EOS Block Producer Openly Pays People for Votes
EOS prices have reached its yearly low. The coin traded today below $3 amid heightened tensions within the EOS community. While the network boasts faster transactions, decentralization woes plague the network.
EOS Block Producer Openly Pays People for Votes

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Source: CoinSpeaker

EOS down by over 10% after flash crash; Bitcoin Cash [BCH] continues on downward spiral

The market opened today, December 4, with a lot of major cryptocurrencies succumbing under to the bear’s pressure. Bitcoin [BTC], Bitcoin Cash [BCH] and EOS, which were all enjoying a bullish slide last week, were the biggest losers within the top-ten cryptocurrency club.
A cryptocurrency that is undergoing a massive slide was EOS, as the sixth-largest cryptocurrency fell by 15.18% at the time of writing. EOS was trading for $2.41, with a total market cap of $2.181 billion. The cryptocurrency’s $795.458 million market volume was majorly split between DOBI trade and OKEx.
EOS 24-hour chart | Source: CoinMarketCap
DOBI trade held a major share of the EOS trade, with the cryptocurrency exchange handling $115.89 million of the entire volume. DOBI trade was closely followed OKEx, which handled $87.967 million of all EOS trade.
EOS had also made news recently when EOSBet, a popular decentralized gambling application, acquired accreditation from one of the world’s oldest online gambling regulators. EOSBet manager Frej said:
“We’ve worked relentlessly to make this license succeed and we will continue to strive to be the standard for smart casinos”.
At the time of writing, Bitcoin Cash [BCH] was falling at the rate of 5.04% with a total market cap of $2.746 billion. The cryptocurrency was trading for $157.03 with a 24-hour market volume of $75.578 million. A majority of the cryptocurrency’s market volume was held by Upbit, with a grasp of $8.502 million of the total BCH trade.
Upbit was closely followed by Huobi, on which $7.115 million of BCH trade took place.
Bitcoin Cash 24-hour chart | Source: CoinMarketCap
Bitcoin Cash’s fall had started since the hard fork that took place on November 15, splitting the original Bitcoin Cash into two tokens: Bitcoin ABC, which is considered as Bitcoin Cash right now, and Bitcoin SV.
 
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Source: AMB Crypto

Cryptocurrency Market Update: Binance Coin (BNB) Climbing as EOS Gets Crushed

FOMO Moments
Markets recouping daily losses, Binance Coin and Nem are in the green, EOS is getting hammered.
The downward motion on crypto markets has continued today as digital currencies slid further back before making a recovery. Monday’s declines have carried on into Tuesday during the Asian trading session but total market capitalization has managed to recoup to similar levels below $130 billion a couple of hours ago.
Bitcoin bulls have failed to keep the digital currency above $4,000 causing it to drop into dangerous territory.  A 5% dump saw BTC fall to an intraday low of $3,840 a couple of hours ago before it managed to bounce back. At the time of writing Bitcoin had pulled back to just above $4k again.
Ethereum has fallen back to $112 and does not look like making any discernible recovery anytime soon. Altcoins are all still red at the moment with some getting more punishment than others. In the top ten EOS is getting pounded with a 10% dive to $2.55 as more centralization woes plague the project. As has been the case for a few weeks now Bitcoin Cash is collapsing, it was the worst performing crypto in November and has lost another 6% today.

There is only one winner in the top twenty at the moment and that is Binance Coin climbing 9% on the day. BNB has reached $5.60 as it partners with Decentraland with a MANA competition and crypto Airbnb platform Tripio. Nem and Dogecoin are also gaining a little but the rest are falling, Ethereum Classic and Bitcoin Gold by the most at 6%.
Pump of the day goes to Factom again adding 27%, ODEM and Pundi X are also performing strongly at the moment with double figure gains. As predicted, yesterday’s fomo altcoins are dumping today, namely Centrality, Mithril and MobileGo, all dropping double digits along with EOS.
Total crypto market capitalization has managed to bounce back to yesterday’s levels after hitting a low of $124 billion a couple of hours ago. At the time of writing it is around $129 billion which is no gain over Monday. Since last Tuesday markets have gained 4% but since the same time last month they have been smashed 38%.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
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Litecoin [LTC], Cardano [ADA] rise from the ashes as Bitcoin Cash [BCH], EOS crash and burn

Litecoin and Cardano are the only well-performing cryptocurrencies in the last week, as LTC was up by 5% and ADA was up by 8.6%, even as Bitcoin Cash and EOS slumped by a massive 11.67% and 14.05% respectively.
In the seven-day time frame, LTC prices look like they are having a massive volatility induced roller-coaster ride. The prices started trading at $31.42 on November 26, 16:32 UTC and fell down to $28.62 in a couple of hours.
Source: CoinMarketCap
The market cap followed the same trend and fell down by $100 million.  From this point, Litecoin witnessed nothing but a bull run for three days and reached a peak of ~$36 in the mentioned time frame. The prices post this remained more or less the same and it is currently trading at $33.
Cardano, on the other hand, is doing better than Litecoin as it is up by 8.66% in the seven-day time frame. ADA, like Litecoin, started trading on November 26 at a $0.0378 and dipped as low as $0.0341. The prices skyrocketed by a massive 16.05% to reach $0.0441, post which, the prices tried another bull run which stopped at $0.00445.
Source: CoinMarketCap
Eventually, the prices decreased to $0.3771  and are currently trading at $0.040 with a market cap of $1.04 billion.
The prices of EOS, unlike LTC or ADA, started high i.e.,$3.35, but the prices fell into the bear’s pit and reached $2.92. The market cap at this point reached $2.65 billion. The prices tried a comeback but the energy extinguished at $3.37 and the prices tumbled down from here on and reached $2.84 and stayed more or less the same.
Source: CoinMarketCap
EOS is currently trading at $2.84, with a market cap of $2.5 billion.
Bitcoin Cash, the much-talked-about cryptocurrency in the past month due to the hard fork, has suffered a massive meltdown of 11.67%. The prices for BCH started trading at $214.52 and the market cap at $3.74 billion. The prices slid down reaching $175.95 and stayed the same until the end with volatility escaping the market for BCH. The current price of BCH is holding steady at $167.95.
Source: CoinMarketCap
Bitcoin Cash was recently overtaken by Stellar Lumens [XLM], as a result, Bitcoin Cash is currently the fifth-largest cryptocurrency, instead of the fourth-largest cryptocurrency.
The post Litecoin [LTC], Cardano [ADA] rise from the ashes as Bitcoin Cash [BCH], EOS crash and burn appeared first on AMBCrypto.
Source: AMB Crypto

Dan Larimer’s New Project “MonerEOS” Fails To Sway Crypto Investors

CoinSpeaker

Dan Larimer’s New Project “MonerEOS” Fails To Sway Crypto Investors

Larimer says that the new MonerEOS “hypothetical token” would be “immutable, non-programmable, and limited to a currency role.”

Dan Larimer’s New Project “MonerEOS” Fails To Sway Crypto Investors

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Source: CoinSpeaker

Dapp War: Ethereum Adds 11 New Dapps As The Race for Dapp Ecosystem Supremacy Intensifies

According to many crypto enthusiasts, dapps are considered to be the future of blockchain and Ethereum had held the top spot for quite some time with 1,239 ETH dapps. But with rising scalability problems of Ethereum and increasing competition from other projects like Tron and EOS, Ethereum top position looks in danger. Even though a lot of companies still prefer Ethereum’s ecosystem due to its proven track record, recent data points show Ethereum might be losing out soon.
11 new dapps added to Ethereum but daily transaction volume of top apps drops
According to the recent data sourced from Dappradar, Ethereum has added 11 new dapps on its blockchain. Five of these new apps are categorized as high risk while three of them find a place under the gambling category. Out of these 11, 5 of these Dapps have begun an active transaction on the blockchain while the rest of them are pretty dormant and are yet to see some major transactions.

 
While new addition of Dapps on Ethereum shows that ETH blockchain is still the most preferred platform to host dapps, the problem of scalability and network congestion continues to trouble Ethereum.
These technical issues have forced many companies to choose, the newer kids on the block, EOS and Tron MainNets to host their Dapps. EOS currently has 179 EOS dapps on its blockchain while Tron is pretty nascent with only 14 Dapps.  Both this platform currently does not face any technical issues similar to Ethereum and are currently flawless in their performance, which makes them an attractive destination for companies that are planning to launch their dapps.
Also, with respect to the transactions of the top three apps on each MainNet (Ethereum, EOS, and TronEthereum seem to be struggling. According to a recent tweet put forward by Twitter user Kevin Rooke, Ethereum’s top three apps had lesser number of users and also had far less daily transaction volumes.


Ethereum will have to soon find solutions for its issues related to scalability and recapitalize on its popularity so that it can stay in the race for Dapp ecosystem or in no time Tron and EOS will move ahead.
Will Ethereum be able to regain the lost ground and sustain its number one position in the battle of Dapp supremacy? Do let us know your views on the same.
The post Dapp War: Ethereum Adds 11 New Dapps As The Race for Dapp Ecosystem Supremacy Intensifies appeared first on Coingape.
Source: CoinGape

EOS Technical Analysis: Bears gain the power to pull down the cryptocurrency further

The bearish hit which led to the destruction of the crypto market looks very strong even after 2 weeks since it began. It can be noticed that most of the major digital assets have completely moved to the bearish zone. In the top 10 cryptocurrencies Bitcoin Cash [BCH], Cardano [ADA], Monero [XMR] have declined the most with up to 54% loss.
At the time of writing EOS is trading at $3.94 with a market cap of $3.5 billion. The cryptocurrency has seen a massive breakdown in the past week with a 26% decline in its value. It is also being noticed that EOS had touched the lowest point today since the beginning of 2018. The coin had dropped to $3.46 a few hours back, however, it is slowly gaining its momentum back with a hike of 2.21% in the past 1 hour.
1 hour:
EOS 1 hour chart | Source: TradingView
The 1-hour chart of EOS has a downtrend ranging from $5.31 – $4.6 – $4.07 with a resistance point fixed at $4.8. Though the cryptocurrency experienced an uptrend ranging from $4.2 – $4.5 earlier today, it has broken the support levels created at $4.2 and $3.6 and moved further downwards.
The Bollinger Bands demonstrate that EOS went through a price breakout a few hours ago. Right now the candlesticks are neither close to the upper band nor to the lower band. However, the expanded Bollinger bands depict that there is a high chance of volatility in EOS’ price in the coming hours.
In the Aroon Indicator, we can see that the Aroon Up line has touched the 0 level and moving sideways. The Aroon Down line is moving towards the 0 line at present, which can be considered as a positive sign for EOS traders and a trend reversal can be expected anytime soon.
The Klinger Oscillator has shown an insignificant bullish crossover with the reading line moving very close to signal line.
24 hour:
EOS 24-hour chart | Source: TradingView
The 1-day chart of EOS shows a completely bearish market for the cryptocurrency on a long run. In this timeline, EOS has a downtrend ranging from $14.99 – $5.3 – $4.5. The resistance points are at $10.50, $6.3 and $5.7.
The Parabolic SAR is clearly on the bearish end for EOS as the dotted lines are forming above the candlesticks and moving downwards along with them.
The MACD is also showing a negative trend in this timeframe. The moving average has taken a bearish crossover with the histogram forming red bars.
The Relative Strength Index [RSI] is currently moving below the oversold line indicating the selling pressure has increased in the market since mid-August when the cryptocurrency gained its momentum back and secured its position within the RSI zone.
Conclusion:
The short-term indicators are showing a highly volatile market in the future. However, the long-term indicators in this Technical Analysis are strongly in favor of a bearish market.
The post EOS Technical Analysis: Bears gain the power to pull down the cryptocurrency further appeared first on AMBCrypto.
Source: AMB Crypto

EOS, Tron [TRX] cumulatively contribute 82% of all cryptocurrency transactions

Despite a bearish and sideways market, cryptocurrency transactions seem to be on the verge of reaching the previous all-time high. As per the data obtained from Blockchain center, the total on-chain transactions for all cryptocurrencies exceeded 522.119 million and the total number of active users for these transactions add up to 1.357 million.
Source: Blockchain Center
EOS has the most number of transactions as compared to any other cryptocurrencies, even exceeding that of Ethereum [ETH] and Tron [TRX]. The total transactions of EOS as of today is approximately 350.30 million. These transactions are coming from a total of 41,457 active addresses.
The transactions on EOS network peaked at 468.08 million in the second week of August 2018 and has since declined to 350 million. When compared to the big picture, EOS’ transactions are coming from a mere ~3% of the total active users.
Source: Blockchain Center
Tron follows EOS and has ~78.543 million transactions, which is the highest number of on-chain transactions that Tron blockchain has ever witnessed. As compared to EOS, the total number of active addresses for Tron are almost halved, i.e, 21,211.
Source: Blockchain Center
 
Bitcoin’s total transactions in the year 2018 peaked at 24.25 million in the second week of January 2018 and are currently hovering at 17.08 million, but Bitcoin’s total active addresses far exceed that of EOS’ or Tron’s, coming up to 681,779.
Source: Blockchain Center
Ethereum has a total of 33.27 million transactions as of November 11, which is contributed by a total of 247,671 active addresses. Ethereum’s on-chain transactions peaked at 71.48 million in the second week of January 2018 and have since declined.
Source: Blockchain Center
XRP’s transactions have come down to 17.99 million transactions, which are one-quarter of XRP’s peak number of transactions i.e., 72.05 million. The total active addresses as of today add up to 6,924.
Source: Blockchain Center
In conclusion, Tron and EOS together have about 4.5% of the total number of active addresses, while still contributing 82% of all the cryptocurrency transactions.
Bitcoin and Ethereum together contribute a mere ~9.5% of the total transactions but have a cumulative active address contribution of ~68%. EOS contributes up to 67% of the total number of transactions on the blockchain while Tron contributes to 15% of the total transactions. To sum it all up, EOS and TRX control 82% of all the transactions which come from only 4.5% active addresses.
A Reddit user tsMQ commented:
“If only 3% of active addresses is making that many transactions imagine when we hit 10% maybe 15% we will be blowing them out of the water for transactions per 24 hours and usage per user which is what we want, users using their coins/resources not just bag holding and watching the price drop.”
The post EOS, Tron [TRX] cumulatively contribute 82% of all cryptocurrency transactions appeared first on AMBCrypto.
Source: AMB Crypto