EOS Jumps 17% – Trustnodes

EOS Jumps 17%

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EOS is up today from around $5.4 to a recent high of nearly $6.5 on increased trading volumes of almost a billion dollars with some of it from South Korea.

The currency has been rising since mid-August, up by around 35% from $4 to now $6.4, but still considerably down from its high of $23 just this April.

Eos’s current price action, August 2018.

It isn’t very clear why eos is rising today more than any of the other top cryptos, but bitcoin has been somewhat bullish since mid-August too, up by about $1,000 to now above $7,000.

As they say, when adults get a bit excited, kids start jumping up and down, shouting while having fun, so perhaps this spike in eos is simply because it fell a bit more than the other top cryptos, down from all-time high by some 83% at the low of $4. Now with this recent rise, down some 72%.

That’s a lot less than eth which still remains down some 80% from its all time high despite a recent rise by $50 since mid-August to now close to $300.

Another reason for the eos rise might perhaps be the anticipated London hackathon starting this September 22nd.

They’re apparently getting some dapps now, including one that’s trying to build a music streaming network on eos. While Dan Larimer, eos’ lead dev, is apparently working on a decentralized exchange (DEX).

There’s quite a few of them already, most running on ethereum, but the oldest smart contract platform might now be facing some competition.

Eos, however, continues to experience difficulties, including a recent ram exploit which allowed others to steal ram. They have now come up with a temporary solution for it, with further suggestions a future upgrade may double cpu bandwidth per token.

Eth’s Loom Network, on its part, recently announced an eos-like dPoS sidechain for ethereum dapps, but eth might now have a project to keep them more nimble.

Copyrights Trustnodes.com

 

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