The HitBTC crypto exchange has recently introduced EOS-based trading pairs to improve its liquidity. The exchange announced that it has upgraded EOS to a quote currency on its platform. The exchange made this announcement via Twitter. It revealed that it is launching EOS-based trading pairs with Litecoin (LTC), Monero (XMR), Ripple (XRP), Bytecoin (BCN) and Dash.

This announcement was made after the exchange listed the first crypto euro to crypto dollar trading pair and added Euro-pegged stablecoin, EURS to its platform. The HitBTC exchange is quite famous for adding new cryptocurrencies quickly. It has presently eight quote currencies listed on its platform: Ethereum (ETH), Bitcoin (BTC), TrueUSD (TUSD), Tether (USDT), EURS, Dai and EOS.

HitBTC crypto exchange’s EOS is considered to be a controversial cryptocurrency, as its consensus mechanism has seen various critics claim that it is centralized. EOS has 21 block producers (BPs) that are similar to miners on Bitcoin’s blockchain. BPs have been widely criticized for reportedly having too much power.

Earlier this year, 21 BPs were ordered to freeze 27 accounts by the EOS Core Arbitration Forum (ECAF). ECAF is a body that resolves community disputes. EOS is presently considered to be one of the most liquid cryptocurrencies in the crypto ecosystem. It is mostly traded on top exchanges such as OKEx, Huobi and Binance. The cryptocurrency is trading at $5.21 at the time of writing this article, as stated in the CryptoGlobe news report.

John McAfee, cybersecurity pioneer launched a campaign against the HitBTC exchange this year, allegedly over their withdrawal fees on a project (Docademic) McAfee invested in. John McAfee revealed that he and his team have been preparing to lodge a legal complaint against the exchange after it failed to respond to his messages regarding the issue.

Crypto exchange HitBTC apparently launched EURS to reduce some market share from Tether’s USDT token, as mentioned in the BCFocus report. The USDT token has been of late reeling under controversies as some experts claim that it is being used to manipulate the price of Bitcoin.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy the website. ]

LEAVE A REPLY

Please enter your comment!
Please enter your name here