The EOS-based exchange, EOSFinex, was announced shortly after Tether (a co-managed company with Bitfinex) announced it will be minting USDT tokens on the EOS network.
The exchange entered a beta phase earlier in March, a month ago testing was done and it has now been completed. It is important to note that decentralized crypto exchanges haven’t seen an upward trend their trading volumes this year, despite the launch of the Binance DEX (which currently has a trading volume of around $5.5 million per day). Ethfinex, Bitfinex’s decentralized Ethereum exchange, holds a daily trading volume of around $2.5 million.
Steadying the ship despite the storm
Before now, New York’s Attorney General accused both Bitfinex and Tether of an $850 million ‘cover-up’, but despite the setbacks, iFinex has made efforts to launch EOSfinex. The EOS network has also been growing, according to EOSPark, it recently reached 1.3 million accounts. There are claims that the number of accounts and transactions on the network may have been inflated, but it still appears to be one of the most popular cryptocurrencies in the ecosystem.
Since its mainnet launch, the EOS network carries out approximately 87 million transactions in 24 hours, its price has also remained relatively stable.