The EOS Crypto (EOSUSD) pair represents the exchange rate between EOS, a cryptocurrency based on the EOS.IO blockchain, and the US dollar (USD). EOS is designed to support decentralized applications (dApps) and smart contracts. Here's how the conversion works:
Example: To convert EOS to USD, you sell 100 EOS on a cryptocurrency exchange at the current EOSUSD exchange rate of $5 per EOS. The transaction executes, and you receive $500 in USD.
The pair's history dates back to the launch of the EOS.IO platform in 2018. Like other cryptocurrencies, the pair has experienced price volatility influenced by market demand, adoption, technological advancements, and investor sentiment. Traders and investors track this pair to analyze price movements and identify potential trading opportunities.
Introduced in 2018, EOS has experienced notable price fluctuations against USD. Initially, its price was relatively low, but it began gaining traction in early 2018. By April 2018, EOS reached its all-time high, with the EOSUSD pair trading at around $22. Following the peak, the pair faced a significant correction along with the broader cryptocurrency market, and its price declined to around $4 by August 2018. Throughout 2019 and 2020, EOSUSD displayed a relatively stable price range, fluctuating between $2 and $5. In 2021, the pair experienced another notable surge, reaching around $14 in May before undergoing a subsequent correction.
The price history reflects various market factors, including supply and demand dynamics, investor sentiment, technological advancements, and broader cryptocurrency market trends. Since its launch, the pair has witnessed significant volatility, with periods of rapid appreciation and correction. Major market events, such as platform upgrades, regulatory developments, and market sentiment shifts, have influenced the EOSUSD price.
Trading EOSUSD offers potential pros and cons. Pros include exposure to EOS price movements against the US dollar, opportunities to profit from volatility, and the ability to diversify cryptocurrency trading strategies. However, the cons include high volatility, increased risk, regulatory uncertainties, liquidity variations, and potential security threats associated with cryptocurrency trading. Traders may consider other currency pairs like BTCUSD (Bitcoin to USD), ETHUSD (Ethereum to USD), or LTCUSD (Litecoin to USD) for broader cryptocurrency market exposure.
Each currency pair has its unique characteristics and risks, and traders should conduct thorough research and analysis to make informed decisions. It's essential to stay updated on market trends, employs risk management strategies, and utilize reliable trading platforms for optimal trading experience.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and without capital restrictions that come with buying the underlying crypto asset.