It’s been a big week for blockchain companies. Ignoring the price jumps, we’ve been seeing huge launches and big moves by blockchain companies. We’re actually seeing real products kick in and companies releasing beta versions of their product.
What’s this Ethos Universal wallet?
The Universal Wallet is an innovative piece of crypto infrastructure that aims to put control and ownership back in the hands of the consumer, rather than a centralized third party. An issue with cryptocurrency wallets is that wallet operations are often routed through a centralized server, with private keys not being held in the hands of the user.
Ethos plans to fix this issue by introducing a variety of cryptoassets into one ‘universal’ wallet, using a single so-called SmartKey to hold ownership over all of the assets.
The wallet pushed Ethos’ price up by 50%
Upon the release of the U.S. announcement, the Ethos token immediately saw an influx in volume, seeing a five times increase in daily volume figures. A majority of this volume came from Bithumb, a popular exchange in the Asia cryptocurrency ecosystem. Prices on Bithumb quickly hit $3.5 in the first minutes of the price jump, but weirdly enough, other exchanges did not experience similar run-ups.
However, sources are saying that this is just a price manipulation in the price and that it will return back to normal within the next 24 hours.
Either way, Ethos is making big moves and worth a watch as an investor.
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