EOS secures regulatory approval in Japan, will trade against yen

Husires

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The name Japanese Virtual and Crypto Asset Exchange Association and the fact that it licenses EOS and there is no news about Bitcoin or the first 10 cryptocurrencies in terms of price seems strange. I decided to search a little on the topic and see what I found

Japan Virtual Currency Exchange Association (JVCEA) https://www.coindesk.com/tag/jvcea/

https://www.coindesk.com/policy/2021/01/19/enjin-coin-becomes-first-gaming-cryptocurrency-whitelisted-for-use-in-japan/

The link to the article is about two years old and therefore it is a recycling of this news.
EOS is a good option compared to 30 to 200, but there are many better options if you decide to expand the list of cryptocurrencies.

LogitechMouse

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Quote from: _act_ on August 31, 2023, 03:16:17 AM

What do you think about buying EOS?

I think EOS popularity is increasing. Japan want to make its trading possible with their local currency.
~

I did a quick search on how many people in Japan owned cryptocurrency. Base on this website.

Quote

It is estimated that over 5 million people, 4.0% of Japan’s total population, currently own cryptocurrency.

5 million people. Not all of them are trading right? That amount of people aren't that significant as well compare to how much the market cap of EOS is right now. We don't know as well how many people will hold EOS because of this. Overall, I don't see this as a catalyst for EOS to move even higher. The years where it remained silent caused the project to go down, and it might be the cause as to why there are many people who are supporting them years ago, aren't supporting them now.

I might be wrong though (and I'm always wrong Tongue

), and maybe this might be the start of the project making some new developments, and making some noise again in the internet world. I just hope that this will be the first step of them towards the development of the project. Will I buy it? As of today, no but I might consider. Will do a deep research between the developments of the project, then I will decide base on that.

Sarah Azhari

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Quote from: _act_ on August 31, 2023, 03:16:17 AM

I think EOS popularity is increasing. Japan want to make its trading possible with their local currency.

Japan is a country that is quite friendly with crypto, so when it comes to that, everything will be possible. But, when we look at the past when Japan made it possible with another crypto, the increase is not significant, because not many people bought it, because Japan is inhabited by old people who have bit lack with technology. Most of them didn't know what was happening in new technology now, they still used the radio to access the news and hear the football match.

We know Japan as a technologically advanced country, but of course as an importer.

MAAManda

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Quote from: _act_ on August 31, 2023, 03:16:17 AM

The main question that I want to ask is that I do not consider EOS as one of the coins that I should buy, but this news is convincing me. Is EOS worth buying and hold for the next bull run coming after bitcoin halving?

I ask you, do you think that $EOS plan that will be paired with Yen will have a significant impact on the market capitalization of $EOS? If yes, then it will be a worthy investment. But if I were you, for Altcoins investment plans, I would prefer Altcoins that rank outside #100, there are lots of potential altcoins that could be a more worthy investment than $EOS to face next year Bitcoin halving.

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Quote from: _act_ on August 31, 2023, 03:16:17 AM

The main question that I want to ask is that I do not consider EOS as one of the coins that I should buy, but this news is convincing me. Is EOS worth buying and hold for the next bull run coming after bitcoin halving?

Thats a great news or advance for EOS not every coin can be traded against someone's currency especially Japan a strong nation for innovation. However, Is been a while since they make any noise in the social media. I wonder whats its current status or development progress. Not a fan of eos, but did some activity before during 2018 to 2019. If ever they make a comeback probably EOS will be one of the good competitor but they should work hard since a lot of L1 or new L2 products are much more good in terms of investors eye.

Yogee

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Quote from: _act_ on August 31, 2023, 03:16:17 AM

The main question that I want to ask is that I do not consider EOS as one of the coins that I should buy, but this news is convincing me. Is EOS worth buying and hold for the next bull run coming after bitcoin halving?

I guess it's alright to keep some until that time. Almost every coin will eventually go up but some will be the slower horse and EOS is probably one of those. I think the coin already lost a lot of its community due to the team's failure to deliver so the Japan approval will probably have less impact.

Wiwo

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Theisting EOS on SEC-approved exchange doesn't automatically make its popularity or value to increase but then this is a welcome development for those looking to exchange EOS vs YEN.

But, if you already have your reservations about a particular coin or investment and suddenly you hear some news of some form of a pump whose final result sounds too good to be true, then it definitely will be untrue, Why I am saying so is that EOS have been around for a long while now and before any single news most especially new exchange listing will produce good results it will take time, but then if you are willing to hold for a long term even beyond next year 2024, the value may increase eventually.

_act_

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What do you think about buying EOS?

I think EOS popularity is increasing. Japan want to make its trading possible with their local currency.

Quote

In an announcement sent to Cointelegraph, the EOS Network Foundation (ENF), which currently supports the development of EOS, announced that the token has received whitelist approval from the Japanese Virtual and Crypto Asset Exchange Association.

Which means that if EOS can trade on such exchange, there would be EOS/YEN trading pair on the exchange.

The main question that I want to ask is that I do not consider EOS as one of the coins that I should buy, but this news is convincing me. Is EOS worth buying and hold for the next bull run coming after bitcoin halving?

Topic: EOS secures regulatory approval in Japan, will trade against yen (Read 66 times)