Binance halts trade of EOS on their platform – gears up for Main Net launch

The EOS Mainnet launch is right around the corner, and all major cryptocurrency exchanges have pledged support for the launch of EOSIO platform. The exchanges announced that they will do the token swap for their clients.

Binance, one of the world’s largest cryptocurrency exchanges has suspended the trade and exchange of the EOS ERC-20 tokens. The EOS deposits and withdrawals have temporarily stopped on the Binance platform from 31st May 0:00 AM UTC.

Binance has introduced two new trading pairs for EOS:-

  • EOS [EOS] – Binance Coin [BNB]
  • EOS [EOS] – Tether [USDT]

These new trading pairs are going to benefit the users of the exchange in the upcoming days as both BNB and USDT trading pairs are going to provide faster and more secure trading. Even after taking the current market turbulence into consideration, analysts expect EOS values to go to be “shooting off the roof” as the mainnet launch is in less than one day away.

Binance has given out a statement saying that the swap of the EOS ERC 20 is going to begin from today itself. The trading will resume after the swap and release of the EOSIO platform is complete. The halt during this time period is to safely transfer the client’s EOS ERC20 tokens from the Ethereum blockchain to the EOSIO 1.0 blockchain.

The exchange has said that their clients have nothing to worry about as they are going to take the necessary steps needed for the swap. The exchange has promised their clients that they will manage all the technical requirements related to the transfer to make sure a smooth transition takes place.

Other Exchanges like Bitfinex, Kucoin, Cobinhood, BigONE, Bitbns, OCTBTC, CoinSpot, OKEz, BitMart, Mercatox, Zebpay, coinDCX, and Kraken have pledged support for the launch of the EOSIO version 1.0.

Susan James a cryptocurrency enthusiast has tweeted:

“I was scared about the whole swapping of my EOS tokens, I thought I’ll probably lose ‘em… but binance came to the rescue as they said that they will take care of everything.. #EOS #BINANCE is the best”


Source: Read Full Article