EOS Token 28% 7-Day Price Surge As EOSIO Network Foundation Announces Hard Fork To Underlying Antelope Protocol

1 min read

EOS Antelope

It’s a sad day when a stunning project dies. Its hot embers struggle to stay alive as the cold air envelops itself around the fireplace. No more logs. Just no more logs. Sad, isn’t it? A once beautiful fire burning oh so brightly. But no logs. Just no more logs.

Well, it seems that’s basically what happened to EOS. They got burned by Block.one last year. Their fire was in danger of being extinguished. No more Block.one logs. The fire was dying. But then! …

A few trusty developer genius hats decided NO! This will surely not happen! And a new dream was borne out of the fresh ashes of a dying fire. “Go get firewood!”, they yelled. “Go get firewood. Let’s build a fire so big, no one can ignore it.”

And so they did. They built a fire that would not go out. Day after day, the developers cut down their trees and added their logs to their fire.

And now it burns a hot fire that no one can extinguish.

Here is the EOS fire story.

EOS Gets A Fresh Breath Of Air

The token’s 28% price surge over the past seven days follows an announcement that Antelope will be used as the supporting protocol for EOSIO-based blockchains.

The digital token EOS, mostly a disappointment since its $4 billion initial coin offering in 2018 (EOS is down 37% since then), is getting a fresh jolt thanks to a technological shift announced last week.

The EOS price is up 28% over the past week, the biggest gainer among 49 digital assets tracked by Messari with a market capitalization of at least $1 billion. EOS continued its nearly week-long surge in Tuesday trading, recently rising about 7% to change hands at $1.79.

The token of the EOS Network Foundation (ENF) soared after ENF announced last week that Antelope will be used as the underlying protocol for EOSIO-based blockchains.

Antelope, a community-run blockchain protocol, will be supported by members of the ENF, which include EOS, Telos, Wax, and UX Network.

The hard fork of the code of the EOSIO blockchain is slated for Sept. 21, which is when the official switch over to Antelope will take place, as CoinDesk reported, citing a company spokesperson.

ENF Takes Legal Action Against Block.one

ENF has decided to pursue legal action against Block.one, the entity that originally designed the EOS network, over malpractice concerns. In 2021, Block.one stopped supporting EOISO development, putting the blockchain in jeopardy.

ENF then started developing initiatives in late 2021 to explore coordinating EOSIO-based blockchains and to preserve and advance the codebase they share.

According to a weekly report from the data provider Kaiko, the EOS token surged on the initial news of the hard fork last week before returning to previous levels. It has risen over 40% in the last 30 days, although it remains well off its all-time high of over $14 a year ago.

Originally Posted Here


Chris Munch

Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.