Singapore-headquartered Huobi is going bullish with EOS as it plans to launch the first crypto exchange dedicated to EOS in the first quarter of 2019, according to Cointelegraph.
Huobi Pool, a cryptocurrency mining arm of Huobi, will launch the upcoming exchange, which will list EOS as the base currency and will allow trading of other cryptos against that.
Huobi is currently the third-largest crypto exchange and handles around $500,000 worth of trades every day, as shown by Coinmarketcap’s data. It recently added EOS on its derivatives platform Huobi DM. With that listing, EOS joined the ranks of Bitcoin and Ethereum, which were already listed on the platform. Huobi DM allows traders to take both long and short positions, allowing for arbitrage, speculation, and hedging.
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EOS has been one of the longtime favorites of Huobi. In April, Huobi Pro started campaigning to become a block producer on the EOS blockchain.
Big and Controversial
EOS is the token of EOS.IO, a blockchain protocol that is powered by the cryptocurrency. EOS was launched in 2017, and since then, its price has fluctuated between $18 and less than $0.80.
The project received a lot of attention as it has conducted the largest token sale so far raising more than $4.1 billion, even dwarfing its closest competitor – Telegram ICO – by $2.4 billion.
However, EOS also had its fair share of controversies as it has been criticized for being too centralized. Recently, Whiteblock, a blockchain testing company based in Los Angeles, has raised questions on EOS project for not even having the traits of a blockchain. The study, however, was commissioned by ConsenSys, a firm which exists only to promote Ethereum, a competitor to EOS.