EOS overview: EOSIO-based platform Eosfinex goes live in “paper mode”

EOS/USD has settled in a new range limited by $4.25 on the downside and $4.40 on the upside. The coin has gained over 17% in recent seven days to become of the best-performing coins on a weekly basis. A strong positive momentum helped the coin to  surpass Litecoin and move up to the fourth place in CoinMarketCap’s rating.  

What’s going on 

While the initial rally was triggered by intriguing comments from EOS CTO Dan Larimer, a steady flow of positive marco news helped the coin to retain the position above $4.00 handle and improve its short-term technical picture. 

Thus, recently, cryptocurrency exchange Bitfinex announced the launch of EOSIO-based trading platform Eosfinex 

“Today’s launch of eosfinex brings unparalleled opportunity to innovate within EOS and to pioneer research within security, performance and scalability. We couldn’t be more excited for what’s to come,” - the announcement on Twitter says.

Initially, the platform will operate in a so-called “paper mode”, which means that users will be able to experiment with the new environment and test their strategies. No real asset trading is involved at this stage.

“Developed by the Bitfinex team, eosfinex combines the scalability and speed of EOS with Bitfinex’s industry-renowned expertise to deliver a fast, transparent and secure platform for digital asset trading. eosfinex brings all core exchange components on-chain, including order books, matching engine and custody solutions,” the company added in a dedicated blog post.

EOS/USD, 4H chart