Bitfinex is stealing the spotlight from all the crypto exchanges since it recently announced that it plans to create a new decentralized crypto exchange which is going to be branded as EOSfinex. The reason why the new exchange will be branded like this is because it will be built on the EOS.IO blockchain platform.
Bitfinex Announces EOS.IO Based Exchange
This news first made headlines on Monday and nearly all cryptocurrency forums are talking about it. This will be a high-performance exchange which will provide users with a combination of the scalability and speed that EOS.IO is known for.
Furthermore, Bitfinex confirmed that it already researched many protocol-level technology in order to decide which blockchain-based platform is more compatible with its platform.
The conclusion of these protocols was that EOS.IO is the best option for them because it can process thousands of exchanges per second while charging small fees.
Bitfinex CEO Statement
Considering that this is huge news especially for investors who hold EOS assets, J.L van der Velde who is the CEO of Bitfinex decided to shed some light on this matter by adding this following statement:
“We are excited to leverage EOS.io to further advance the field of high performance and trustless on-chain exchange. Block.on continues to display an unwavering dedication to improving blockchain scalability through the EOS.io platform and it is our hope that this collaboration will allow significant advancement for all decentralized exchange”.
EOS Price Spikes
As you would expect, this recent news made EOS step into the spotlight and gain the attention of more investors which in turn, help raise its price. The EOS token went up by 5.72% in only 24 hours and it’s now sitting at $9.23 per token. Moreover, the total market capitalization is valued at over $6.2 billion.