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EOS struggles to find support; Telos REX to be unveiled by August 16th, 2019

EOS is ranked at #8, below Binance Coin and Tether on coinmarketcap. The price of EOS sunk by 14.53% in the course of the past 24-hours. The trading volume recorded is $2.111 billion, whereas the supply has 927,516,177 EOS tokens in play for now. The total market cap of EOS is $3.244 billion. At present, EOS is priced at $3.50.

The Telos Resource Exchange is scheduled to go LIVE tomorrow. Telos REX will receive funding amounting to 1 million TLOS tokens per month. This will bring about a staking reward of around 30% annual interest.

For the next couple of years, Telos will experience 0% inflation. Telos exists on the EOSIO software, and includes advanced voting for dApps, storage which is meant to be decentralized, and other features. It has no relation to TELOS [Teloscoin].

To know more about this latest development, you can head to the Reddit page which was posted a few hours ago. A community contributor [eosgo] released details with regards to this initiative.

A year ago, EOS was quite a high-climber, but it has declined with the passage of time. A month back, the ranking allotted to EOS was #6, but Binance Coin and Tether overcame it. Tether [operates under Bitfinex] is currently embroiled in a lawsuit with the NYAG [the Attorney General alleges that a massive cover-up by executives involves Tether reserves].

Even though gambling dApps have been frowned upon in recent times [particularly in Japan, where the TRON network has encountered problems alongside China]. The gambling industry may slowly head towards blockchain technology.

A popular exchange Bancor has kicked-off  “community-staking” for EOS. The same move with implemented for the Ethereum chain a week ago. HODLers who tend to keep their funds for a specific duration will henceforth be able to rake in small quantities of EOS coins. Losses [when choosing liquidity pools] are also wholeheartedly possible.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.