Today, Tuesday 07, Bitfinex has announced that its customers will begin earning staking rewards. In its announcement, the exchange confirmed that clients can up to 10% annually by simply holding their digital assets on the exchange. The supported tokens are three. That is EOS, Tezos, V.Systems (VSYS) and COSMOS (ATOM). The announcement also notes that Tron and Algorand (ALGO) will be coming soon.

Following the announcement, Brendan Blumer has publicly come out in support of the exchange allowing EOS staking. Blumer is the CEO of<a href="https://www.cryptoknowmics.com/crypto/blockone-launched-its-voice-platform-on-valentines-day/"> Block.one</a>, the company behind the EOS project.

The CEO stated that the newly<a href="https://staking.bitfinex.com/"> launched staking program</a> would bring back value to EOS holders. In a tweet he stated:
<blockquote>"Awesome to see @Bitfinex supporting deeper level network engagement to empower and drive value back to #EOS holders. EOS’s simple yet powerful governance is wired to relentlessly operate in the best interest of its holders."</blockquote>
Paolo Ardoino, the CTO at Bitfinex also made clear that he believes it is time for<a href="https://www.cryptoknowmics.com/crypto/bitfinex-lauded-for-providing-extreme-liquidity-during-the-meltdown/"> Bitfinex</a> EOS holders to be rewarded. He also added that the program was timely with the EOS project expecting an important upgrade.
<blockquote class="twitter-tweet">
. <a href="https://twitter.com/hashtag/bitfinex?src=hash&amp;ref_src=twsrc%5Etfw">#bitfinex</a> EOS blockproducer is strong and Finex EOS markets are really liquid.<a href="https://twitter.com/hashtag/eosfinex?src=hash&amp;ref_src=twsrc%5Etfw">#eosfinex</a> is in active development and working on an important upgrade.
It's now time to give back to the <a href="https://twitter.com/bitfinex?ref_src=twsrc%5Etfw">@bitfinex</a> EOS holders that allowed us to be such an important part of the <a href="https://twitter.com/search?q=%24EOS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$EOS</a> community. <a href="https://t.co/c0OGbBotqz">https://t.co/c0OGbBotqz</a>
— Paolo Ardoino (@paoloardoino) <a href="https://twitter.com/paoloardoino/status/1247453037054001152?ref_src=twsrc%5Etfw">April 7, 2020</a></blockquote>
<h2>How Does EOS Staking Help?</h2>
First and obvious, the longterm holders are rewarded for holding. While the holders are keeping the tokens for a better payday in the future when the value increases, they can get to cash in some profit along the way. This will also lead to better engagement with the token and the project behind it.

The staking will play in a bigger critical way by attracting new holders and growing adoption. Potential EOS investors will be lured to hold EOS with the promise of a staking reward which could add to their profit or help cover their losses.

With better adoption and scaled staking, this could also lead to price stability for the token. When there is less exchange of the token and more investors are holding, volatility tends to fall.

In the last 24 hours, EOS has been riding the wide market rally adding more than 10% to its value. This makes it one of the best performing coins in the top ten. With the announcement, the token is set for more gains in the hours to come.

You May Also Read.
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 	<li><a href="https://www.cryptoknowmics.com/crypto/disk-new-network-feature-of-eos-for-dapp-developers/">DISK; New Network Feature Of EOS For DApp Developers</a></li>
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Brendan Blumer Reacts To Bitfinex Support For EOS Staking

Brendan Blumer has reacted to the announcement that Bitfinex will reward clients for staking EOS tokens. So, how will this announcement affect EOS prices?

John is an exceptional writer with a liking on technology, finance and the intersection of the two. A firm believer in the transformative potential of cryptocurrencies and the blockchain. When he is not writing, he likes to listen to Nas, Eminem and The Beatles.

Brendan Blumer Reacts To Bitfinex Support For EOS Staking

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