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Poloniex Adds Support for EOS in First Listing Under New Rules

August 01, 2018 07:51:09

 Poloniex Adds Support for EOS in First Listing Under New Rules

Poloniex, one of the longest-running US cryptocurrency exchanges, has added support for EOS (EOS) in the first listing following the platform’s introduction of new digital asset assessment rules.

Poloniex, which was acquired by Goldman Sachs-backed mobile payment applications Circle in February, said in a statement on Tuesday that EOS deposits and withdrawals are already live, while trading in pairs with Tether (USDT), Bitcoin (BTC) and Ethereum (ETH) will be enabled on Wednesday.

Poloniex further noted that it is only planning to support EOS mainnet tokens and will not be accepting deposits of the ERC-20 version of the token or the EOS airdrops.

Circle Asset Framework

The EOS addition comes after last week’s announcement of the delisting of nine tokens. Poloniex took down FLO, FLDC, XVC, BCY, NXC, RADS, BLK, PINK and RIC as part of the new asset assessment rules implemented by owner Circle. Called Circle Asset Framework, the tool is used to prioritize new cryptocurrency asset listings across Circle’s various products.

“We applied this framework to assess projects across a few categories – fundamentals, technology, people, business model, and market dynamics – and we are ready to announce the addition of a new asset to the Poloniex family: EOS,” Poloniex explained.

EOS in an open-source blockchain protocol developed by Block.one. The tokens grant access to bandwidth and storage on the EOS decentralized operating system. EOS was initially an ERC20 token built on the Ethereum blockchain, but in June, the startup launched its own main network (mainnet) EOSIO and the token migrated onto its own blockchain.

The listing on Poloniex is likely to be seen as a bullish indicator by EOS HODLers. However, the asset’s price did not immediately respond to the news. At 6:09 UTC, EOS is changing hands at $7.30, posting an over 4% decline for the past 24 hours — in line with the general crypto market trend. However, in Bitcoin terms, EOS has gained nearly 3% over the past day to 96,536 satoshi.

Almost 40% of the total EOS trading volume for the past 24 hours comes from USDT trading pairs on OKEx, Huobi, and Binance.

EOS is the fifth biggest digital asset with a market capitalization of $6.6 billion presently.

Category: News

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