On 29th May, I made this post regarding the price movement of EOS ahead of 1st June. 1st June was the date for the massive EOS event which generated quite a lot of hype. The event was nice but did not really lived up to the hype in terms of announcements.
Taking a look at the price after the event, it fell as much as 31.88% from the peak, effectively erasing almost all the gains made in the second half of May. This is a classic case of "buy the rumors, sell the news", where most of the people got a little too FOMO by the rumors and pumped up the price too high. In the end, the news did not meet expectations and the price came crashing down.
My thoughts on Voice.com
The key announcement made during the event was Voice.com. It is a social network that is going to be built on EOS. That get many people excited and some Steemians worried. Is it going to be a Steem-killer? I am not sure because not much information on how it work. Details are still lacking and all we know is that it is going to be need actual identity verification.
While some Steemians might think that it spells bad news for Steem, I beg to differ. I think Voice.com seems to be targeting a different market segment and is not a direct competitor of Steem. Besides, it is still not even in beta and lots of work still need to be done to get a network started. We shall see how it goes.
Personally, I think Facebook's cryptocurrency is something that should get Steemians worried instead. However, I will leave that discussion to a later post. Thanks for reading!
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