EOS has remained a pretty 'hot' cryptocurrency to invest/speculate during the last whole month. The project had a pretty big update to announce and investors pumped the price of EOS to almost $18 after seeing the opportunity.
There is a lot going on in EOS currently. After their Mainnet got cancelled because of some bugs reported by some developers, there had been some uncertainty regarding the activation of their Mainnet. To solve this, EOS team called for a voting system in order to push the Mainnet event. Majority of votes came in 'Yes' and probably in coming day, EOS Mainnet will be activated.
Now, let's talk about its Price movement:
EOS price was doing really well before the Coinrail exchange hack yesterday. It was trading above $14.74. Being close to $15 price range was a sign that a lot of investor invested their money in EOS to capitalize on Mainnet event. But after the exchange hack, EOS price got hit hard and plunged to $10.72, almost 16% down from its recent price before the hack.
Currently, EOS is being traded at $11.25 and struggling to move upwards. Once the market settles and Bitcoin get stable, we might expect a fast recovery in EOS but until then who knows what happens.
By the way, this week saw a huge EOS hackathon in Hong Kong take place and received a huge response from the supporters. The number of people attended the Hackthon was great and it certainly brings so much confidence in EOS project.
Sooner or later this project will gain its pace and we will definitely see this project among the very best of the best projects in crypto space.
Thanks for reading ...!!