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Coinbase’s retail customers can now trade EOS

Benson Toti

The largest US digital currency exchange Coinbase has added support for EOS trading on its platforms for retail customers.

Coinbase increases support for EOS

The San Francisco-based company, which added EOS to its Coinbase Pro platform in April, announced yesterday in a statement that the digital currency was now available on Coinbase.com, as well as the firm’s iOS and Android apps.

“Coinbase customers can now buy, sell, convert, send, receive, or store EOS,” the company wrote, adding that the digital coin would be available in most jurisdictions, with the exception of the UK and the state of New York. The company also said that “[a]dditional jurisdictions may be added at a later date.”

Thursday price slump

Despite the positive news, EOS could not resist the cryptocurrency slump that hit the market on Thursday afternoon. Following a sharp drop in the price of Bitcoin, most altcoin prices tumbled, wiping out nearly $30 billion in total crypto market cap. EOS, in particular, fell to as low as $7.08 in late Thursday trading, after having hit a 10-month high of $8.44 earlier in the session. EOS closed the session at $7.37, well below its opening level of $7.97.

Still, the coin has shown greater resilience than many of its crypto rivals, especially in today’s trading. While major coins, such as Bitcoin (BTC), Ether (ETH) and XRP, have struggled to recover from yesterday’s slump, EOS has experienced a steady, albeit slow, advance. This has allowed the coin to recover a large portion of its Thursday loss.

In today’s trading, the EOS price stood at $7.94, as of 14:49 BST. The digital coin has lost 2% of its value, according to data from digital currency tracker Coinmarketcap. The coin’s total market capitalisation currently stands at nearly $7.3 billion, which makes EOS the fifth largest digital currency on the market.

Featured image: Wit Olszewski/Shutterstock.com

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