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EOS Is on the Verge of Possible Breakout: Cryptocurrency Trader

  • Alex Dovbnya
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    The EOS price could be on the brink of a big price move, according to technical analysis

EOS Is on the Verge of Possible Breakout: Cryptocurrency Trader
Cover image via www.123rf.com

Cryptocurrency trader "Galaxy" has taken to Twitter to inform his followers that EOS, the seventh biggest cryptocurrency is on the verge of a possible price breakout. The token that underpins the first decentralized operating system is trading at $2.96, according to CoinStats data.  

As reported by U.Today, the same trader noticed that Ripple's XRP registered a bullish MACD crossover on the weekly chart, which could lead to a mammoth-size price increase (up to 4,600 percent). As of now, XRP remains the only green coin in the sea of red.   

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The EOS price experienced a substantial price increase on Oct. 1, which was allegedly prompted by its $24 mln settlement with the US Securities and Exchange Commission (SEC). The fine was deemed by many as a slap on the wrist for EOS given that Block.one's ICO managed to rake in a staggering 4.1 bln in 2018.      

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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