Connect with us

Altcoins

Bitbns becomes the first platform for EOS RAM trading

Priyamvada Singh

Published

on

Bitbns becomes the first platform for EOS RAM trading
Source: Pixabay

Indian crypto exchange Bitbns on 6th July announced that it has added EOS RAM for trading on its platform. Bitbns, in its blog, has also mentioned that it is the only Indian cryptocurrency exchange to have listed over 50 digital assets. It is also the first global exchange to have listed EOS RAM for trading.

Bitbns' recent tweet | Source: Twitter

Bitbns’ recent tweet | Source: Twitter

RAM [Random Access Memory] is a digital property of a computer required to store transaction data such as keys, balances and contract state. The RAM allotted to a system is decided by certain technological laws. To solve this, EOSIO has devised a free-market plan. Communities that fall short on RAM can buy and sell it across the EOSIO ecosystem in exchange for EOS, which is EOSIO’s native crypto coin.

Interestingly, the price of RAM will be controlled by the demand for EOS smart contracts among the developers. This will also pump the demand for high EOS RAM leading to a hike in EOS RAM price for trading.

when there is high demand, users will only be able to buy RAM from another user who owns it, rather than buying it from the system. According to Bitbns, only -17% RAM is left for a direct sale.

The price of EOS RAM has gone up from an estimated 0.01 EOS per kilobyte on 20th June to 0.20 EOS/KB on 3rd July. Currently, EOS RAM is selling at a rocketed price of about 0.57 EOS/KB.

A Twitter user and Bitbns follower, Kaushal, commented:

“I have placed an order to buy (20 mins back) EOS ram… But it hasn’t reflected yet.”

To this, Bitbns replied:

“It is still in open order as it is not executed may be the price you have set is not matching with first come first serve”

In another comment, Osmangani, a crypto fan requested:

“Please Add Manna, STEEM, BITCOINTOKEN (BTK), REFEREUM”



Follow us on Telegram | Twitter | Facebook



Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Trending