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EOS Price Rallies After Mainnet Launch Event

Cryptocurrency NewsJun 04, 2018 01:40AM ET
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EOS Price Rallies After Mainnet Launch Event

The EOS digital asset has survived the mainnet launch and token lockdown, and the market price has shot upward. Starting June 2, EOS had a significant uptick in prices, growing a net 16% in the past week to $14.49. The price is also near record levels against Bitcoin. EOS trading has more than an 8% share of all trades, while Bitcoin’s share fell to 29%.


The last daily auction for EOS ended with a price of $12.32, collecting more than 42,000 Ethereum. The EOS ERC-20 token is already frozen, seeing no new transfers. For now, neither the EOS team, nor BlockOne have released additional statements - the EOS system is supposed to be decentralized, and ran by the community.

Dan Larimer, the project’s idea architect, has also been relatively silent. At the moment, the mainnet is supposed to be functional, with limited ways to tell if everything is fine. There are rumors of a forked net, EOS Classic, immediately arising after the official EOS launch. Users are urged not to reveal EOS private keys, for any forks or airdrops, to prevent scams from proliferating.

EOS is, once again, inspiring polar moods. Supporters see EOS with 10% of Bitcoin’s market capitalization - and foresee a “flippening”.

Others are wary, seeing EOS as an inherently unfair system. A recent overview of EOS addresses showed that 10 top “whale” addresses held nearly half the assets. One of the biggest holders was BlockOne, holding an estimated $1.5 billion in EOS, in addition to the $4 billion in Ethereum.

Jackson Palmer, founder of DogeCoin and a prominent crypto commenter, was one of the EOS skeptics:

But other big wallets belong to block producers. Some believe block producers may have additional wallets for voting themselves in, thus prohibiting the wider community from having any effect. In theory, the 21 block producers should be altering their positions - but in practive, some may solidify their positions with high-stakes wallets, and create an oligarchy.

This article appeared first on Cryptovest
EOS Price Rallies After Mainnet Launch Event

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