Block.One continues to expand its team, most recently bringing on board James Mendes, so far HR managing director at Citigroup (NYSE:C). He will hold the title of chief people officer and will join the company’s Hong Kong-based executive committee.
“Attracting, developing and retaining the best people is critical to our continued success. James has a proven history of leading human capital businesses and extensive experience supporting financial services and technology companies to implement human resources solutions across the globe. We look forward to him joining the team,” Block.One president Rob Jesudason said in a press release.
The new hire comes just days after Block.One brought in Michael Alexander of Jefferies Group to oversee financial and investment matters.
Block.One, the company which publishes the EOS protocol and sells the EOS token, initially announced it would not be involved with the behavior of the EOS ecosystem. It later stated its intention to participate in voting and announced readiness to technically support developers of distributed apps.
However, the news coming from Block.One has failed to prop up the flagging price of EOS, which survived several shakedowns but continued to deflate.
EOS has slid to $6.74, losing more than 22% of its value in the past week. Trading volumes have also fallen, signaling that enthusiasm has abated. More than 52% of EOS trading happens against Tether (USDT), but now the inflow of USDT is triggering sales instead of boosting the price. Moving funds from EOS to a fixed-price asset may indicate expectations that the value is set to continue falling.
The EOS network is running relatively smoothly, but this is not enough to stop the selling of coins, and lower prices are not out of the question.
Not even the Evripedia airdrop and the genesis block of the IQ network were enough to spark new enthusiasm for EOS:
RAM prices for using the EOS network have subsided to 0.37 EOS per kilobyte. More than 80% of RAM has been used or hoarded for speculation. RAM trading is happening through the EOS blockchain and is open without limits on participation. However, the market is extremely risky and has led to sharp losses.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. Cryptocurrency trading and investing is risky, and market participants are advised to always conduct thorough research.
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