The good news is that the pace of EOS voting is slow, but regular. In 24 hours, the voters expanded from 6% to 9%, and thus, within a day, about 3% of token holders have cast a vote. In the meantime, the EOS blockchain is producing blocks, but is in a limbo, an unverified state. So at the moment, the EOS digital asset is useless for anything but voting, unless it is traded on exchanges.
The EOS market price hardly seems to budge, standing at $10.25. But a curious tidal shift has happened – the influence of Tethers (USDT) is increasing each day. Usually, USDT pairings make up about 22% of EOS volumes. But now, this share has expanded to 34%. EOS remains one of the most hotly traded assets, and is contributing to the even more active flow of USDT tokens. USDT trading reached more than 18% of the total market, as fiat liquidity retreated and prices fell below $7,000.
The EOS voting is also happening through the assistance of Bitfinex, but it is still unknown what share of votes the exchanges would have. The process is still being encouraged on social media, and recently a group of block producers endorsed a tool that is deemed secure enough for the moment:
“Exhaustive security audits on all third party wallets, browser extensions or voting portals have yet to be completed (though we encourage submissions!). However, if you want to vote now with an intuitive graphical user interface, the Block Producer Candidates listed at the bottom of this joint statement endorse the use of the Greymass EOS Voter wallet for Windows, MacOS, and Linux.”
The EOS voting process may represent danger, as it requires the usage of the private key, similar to signing a transaction. Users are urged to be skeptical of third party wallets, voting tools, or other links they may have doubts about.
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