Time to Exchange | Keep rising or falling this week?
An exchange is a website or application where people go to trade or “exchange” one cryptocurrency for another, or trade fiat (normal money) for cryptocurrencies. There two types of exchanges, namely centralized exchanges (CEX) and decentralized exchanges (DEX). Before delving into TPExchange which is one of the trusted centralized exchanges in the cryptocurrency industry, we would like to indulge you in some market analysis and news from EOSIO and the broader crypto market.
Market Analysis
Last week would have been a good week for the Bitcoin bulls as the market saw some green lights with Bitcoin bouncing from $8,4000 to above $9,000. Many bulls were hoped the market would hold the $9,000 support, but the price fell back down below $9,000 on Saturday and then on Sunday, it dipped further to the $8,400 range. It turns out that the little rally experienced last week was just a dead cat bounce.
The price of Ethereum, EOS and the rest of the cryptocurrency market also rose and fell, following the lead of ‘King’ Bitcoin and proving the long-accepted premise the Bitcoin price movement controls the movement of the entire crypto market.
Amidst these market conditions, some Bitcoin analysts made bullish remarks about Bitcoin. Max Keiser during the Keiser Report stated that an impending global financial panic could catapult the price of Bitcoin to $100,000. Bitcoin Analyst Willy Woo supported this prediction, stating that it’s common sense for Bitcoin to hit $135,000 and that a range of $100,000 to $250,000 is attainable depending on the length of the impending bull run.
News
There is so a good deal of exciting news to share from last week. Three governments (Korea, India, and France) signaled their support for cryptocurrencies. The CEO of Twitter is supporting Bitcoin through a grant program, Steem Community fights back to protect the decentralization of Steem blockchain, BOSCore announces that they are joining EOSIO challenge and EOS Nation proposes a new system for EOS WPS.
Bitcoin legal in France
In France, the Commercial Court of Nanterre recognized Bitcoin as a currency. They made the recognition during a case between an English investment firm, BitSpread and a cryptocurrency exchange called Paymium.
South Korea sets clear legislation
The National Assembly of South Korean passed new legislation that provides clarity to cryptocurrency exchanges on how they should operate. The new regulation states that all cryptocurrency exchanges enforce KYC(know-your-customer) and AML(anti-money laundry) rules on all crypto traders in their platforms. This is good news for South Korea because the government now has a clear regulatory framework and a probable positive outlook. In the past, there were fears that the government could ban cryptocurrencies.
India supreme court removes crypto ban
In April 2018, the Reserve Bank of India imposed a cryptocurrency ban on all exchanges in the country. For two years, it slowed the growth of cryptocurrency adoption and made many exchanges to close shop. However, on March 4, 2020, India’s supreme court lifted the ban on banks, sending a wave of joy to all cryptocurrency enthusiasts within and outside the country. Banks can now go back to dealing with cryptocurrencies.
Twitter CEO supports Bitcoin
Square Crypto, a company launched by Twitter CEO (Jack Dorsey) now offers grants towards the development of Bitcoin. A couple of developers /projects have already received grants and the criteria for applying is now public. One of the rules for applying for the grant is that the proposals should be aimed at improving bitcoin through UX, scaling, privacy, and security.
Steem-Tron Scandal
Unless you’re living under a rock, you must have heard of how the CEO of Tron, Justin Sun tried to take over the Steem blockchain by replacing the 20 community voted witnesses with his own. He used Steem tokens he purchased in a deal with Ned Scott(Co-founder of Steemit) and also got exchanges like Binance, Huobi, and Poloniex to support him. This lead to a scandal with the Steem community raising their voice on twitter and fighting to maintain the decentralization of the Steem blockchain. Binance and Huobi have since retracted their votes and support for Justin’s witnesses and at the moment, the Steem community has successfully reinstated 10 community voted witnesses to the Steem blockchain.
BOSCore leading in innovation
BOSCore, the first IBC equipped DPoS blockchain with 3 Seconds LIB announced that they would participate in the EOSIO challenge. This announcement is coming after the BOSCore development team made public their upgrade plan to implement EOSIO VM 2.0 to the BOSCore blockchain.
EOS Nation WPS Proposal
EOS Nation, one of the highly ranked block producers on the EOS Mainnet, in collaboration with Attic labs, has released a proposal for a new Worker Proposal System. The WPS system will enable developers and other value creators to seek funding from the EOS blockchain for their projects outside of EOS block rewards. This system (unlike the defunct system which was funded by a 4% inflation) is funded by accumulated administrative fees from pre-REX eosio.names and eosio.ramfee. It is inspired by the Worker Proposal System in Dash and BOSCore.
Time to Exchange
TPExchange is the only centralized exchange that is accessible via the TokenPocket app. It offers high liquidity by combining the powers of Binance, OKEx, and Huobi. It is highly secure, easy to use and offers the lowest trading fees. If you are a crypto veteran, an enthusiast or newbies, TPExchange is designed specifically to suit your needs.
Perhaps one of the most amazing features of the TPExchange is that it is situated right in the TokenPocket app which has a lot of fantastic features such as the DApp browser through which you can securely access most cryptocurrency applications (without compromising your private keys). You can also easily move funds between the TokenPocket non-custodial wallet and the TPExchange wallet.
There is a $10 reward for everyone who registers on TPExchanges and for every person you invite, you get an extra $1 in USDT. These rewards would be frozen until users can meet some trading requirements.
Not yet registered on TPExchange? Click on this link now!! It’s time to exchange!!!
Written by tojukaka
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