EOS Slashes Gains after Rally Fueled by Community’s Revolt Against Block.one
EOS investors took a chance to exit after a strong rally yesterday, prompted by the news that the EOS community voted to stop token vesting to Block.one, the developer of EOSIO, an open-sourced blockchain software.
At 08:48 UTC, EOS trades at USD 3.47 and is down almost 6% in a day. However, it's still up sharply as it traded below USD 3.20 before going almost vertical in the morning on Wednesday (UTC time). The rally helped some investors cash out as the price is still down by 29% in a month, trimming its gains over the past 12 months to 24%.
The EOS Network Foundation (ENF), composed of the dissatisfied members of the EOS community who claim that Block.one is no longer acting in the network’s best interests, has rebelled against the company
Read more on cryptonews.com
