Latest Ecency Developments: Testing The Advanced Ecency Internal Market.

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avatar of @depressed.leo
4 months ago - 3 minutes read

Ecency is one of my favorite Hive front ends, largely because of the fact that it has a mobile application. I’m a huge fan of everything that has mobile apps and if I ever had to choose between a web version and a mobile browser interface, I’d choose mobile 24/7.

Recently, there’s been a lot of updates coming to the Ecency mobile app and I’m loving it even more. The most recent and I seem to be completely in love with is the addition of other tokens in the mobile wallet.

Previously, you could only see other tokens on the Ecency web version in Engine Tokens, or by directly logging into Hive-engine itself via Keychain and that sucked. I was more than happy when I found out the latest update fixed that. I’ve added some of my favorite tokens to my wallet now so that instead of going to the web or logging in to keychain to check them, I can monitor them directly and make transfers simply from the mobile app.

If you didn’t know, HBD-to-HIVE trade/swap is another new thing that has come to Ecency recently.

One thing I still find disappointing is the fact that I have to use the web version for my HBD/HIVE swaps/trade.

A few months ago, you could only Convert your HBD to Hive on Ecency. If you thought converting was the same as swapping your HBD to HIVE, welcome to the wrong assumption group. But don’t worry, I thought so too at first. The difference between converting and trading HBD for HIVE is that converting takes 3.5days whiles trading can take literally seconds depending on the order type.

But now, you can swap HBD to Hive in seconds on Ecency ~~wallet~~ web.

The latest development is in regard to the Ecency internal market.

Testing Out The Advanced Ecency Internal Market

What we’ve been used to on Ecency aside swapping HBD to Hive through market orders is through Limit Orders. But with the new advanced mode, Ecency has stepped it up a notch by providing detailed trading information about the order book, trading chart and trade history.

Honestly, I’ve always been swapping my HBD to HIVE at market rate until today when I decided to try out the advanced mode of Alpha.ecency.com.

Just like we already see on other exchanges, the order book comprised of the buy and sell. The History held information about which trades happened at what rates and at what time.

For the advanced option, I think the newest addition is the HBD/HIVE trading chart. It seems for now, the chart is only a 5minute chart. I’m hoping that as more swaps happen frequently, there can be flexibility allowing people to play around with other time frames. This way, the Ecency internal market’s chart can be used for technical analysis and price action analysis to a certain extent.

I placed a sell limit in advanced mode.

So to test advanced mode and for my first limit order on the Ecency wallet, I placed a Hive sell order for 2 HIVE at 0.5HBD/HIVE.

The order went through and has been added to my currently open orders. I placed the order in hopes that I could catch a Hive pump and get 1HBD for 2 HIVE. But at the time of writing this post, it was still a wish and I canceled my limit order.

Overall, the Ecency wallet is awesome and I’m loving the recent improvements and mobile app updates. However, I’m looking forward to when trading tokens or swapping for example will be added to the mobile app.

The advanced mode seems to be working fine on alpa.ecency.com too as far as I’m concerned. An improvement I’d like to see for the future would be adding more timeframes to the trading chart so we can play around with the time frames for price action analysis. I can understand though that the 5min only timeframe right now is a result of the fewer amount of transactions happening per second, and so the chart will just he wicks with no bodies if the timeframe was extended.