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EOS slips by 31% over seven days; acts as feast for the hungry bears

Namrata Shukla

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EOS slips by 31% over seven days; acts as feast for the hungry bears
Source: Unsplash

EOS, the sixth largest coin on CoinMarketCap list slipped by 10% on December 4 and ever since has been on a downward spiral.  The coin was enjoying last week along with the other major currencies on the green pastures but has now been subjected to the wrath of the bear.

Source: CoinMarketCap

Source: CoinMarketCap

According to CoinMarketCap, the coin plunged by 31.16% over the last one week, at the time of press. EOS was trading at $2.38 with a market cap of $2 billion. The coin registered a 24-hour trade volume of $840 million.

However, the coin saw a 0.01% growth in the past hour, at the time of press.

According to the maximum registered trade volume, DOBI trade reported the highest 24-hour trade volume of $110 million with EOS/BTC pair. The second place is occupied by OKEx with a trading volume of $77 million with EOS/USDT pair, at the time of press.

DOBI trade and OKEx are followed by DigiFine which reportedly registered 24-hour trade volume of $49 million with EOS/USDT pair.



A few days earlier Daniel Larimer, the creator of Bitshares, sent a message that disturbed the EOS community. In his message, Larmier informed his followers that he will not be abandoning EOS and Block.one, but he discovered a project that according to him is a potential crypto token.

EOS also made new when EOSBet acquired accreditation from Curacao, one of the world’s oldest online gambling regulators. EOS manager Frej said:

“We’ve worked relentlessly to make this license succeed and we will continue to strive to be the standard for smart casinos”.





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Bitcoin

Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra

Febin Jose

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Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra
Source: Pixabay

Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant surge earlier this month, helping the coin break strong resistance at $5,000 and $5,200. Following the great fall of the king coin in early 2018, the Bitcoin ecosystem was struggling with scalability and technological issues, eventually leading to the hard fork.

Bitcoin.org’s Cobra, who is also the co-owner of Bitcointalk.org, has always maintained that Bitcoin was the cryptocurrency to look out for through his various Twitter bouts with prominent personalities in the cryptoverse. Due to his strong, unbridled support for Bitcoin, he has often trashed altcoins for their low market dominance.

In a new Twitter thread, Cobra spoke about the “biggest threat” to the Bitcoin ecosystem. Even though many crypto-enthusiasts believe that governments and technological issues were the biggest threats to the king coin, Cobra had a completely different opinion.

According to the Bitcoin maximalist, users have the potential to signal Bitcoin’s doom. His tweet read,

Source: Twitter

Source: Twitter

Though most Bitcoin supporters usually support his opinions, this tweet was met with a lot of resistance. Twitterati swarmed the thread in an attempt to prove him wrong. A user named @MrHodl alleged that this could not be true as Bitcoin had “no community.” He added that this, in turn, prevented toxicity in the ecosystem.

Cobra replied to the tweet stating,



“I think there is a community, it’s just not fully representative of everyone with a stake in Bitcoin. Most holders are quiet and not too familiar with what’s going on. There’s people with 1000+ BTC and they don’t engage at all with discussion platforms, just lurk.”

Some Twitter users took it as an attack on Bitcoin investors and opposed Cobra’s stance. A user @CarstenBKK commented,

“Maybe I am lost in translation. What do you wanna tell us? That you are part of Bitcoin network of people owning/using it, but you are just disgusted by the idea, that the network is called community in the sense of direct human collaboration and affection to the groups ideals?”

Previously, Cobra had accused Twitter’s Jack Dorsey and Square Crypto of pandering to Bitcoin users, while also suggesting that the crypto project was merely a way to bring in more users for Dorsey’s CashApp. His tweet read,

“Gotta respect how hard @sqcrypto is pandering to Bitcoiners. Very clever how @Jack has embedded himself in the community; in return the community promotes @CashApp, which gives that service a small but dedicated and activist group of early users.”





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