The price of an EOS token has risen to $8.83.
The price of an EOS token was reaching $9. The whole last time this currency’s fan saw such figures was in 2018.
As Block One was able to collect $4 billion for the effort to develop the EOSIO app throughout the ICO boom, EOS was the most talked-about cryptocurrency. The token’s value has almost soared in the last few months. The “altcoin season” was one of the main factors for this.
The PowerUp platform contract has proven to be one of the most successful solutions to the problem of transaction costs, which has been a major bottleneck for the Ethereum blockchain. Each customer will pay for a resource by placing his EOS tokens on the line and getting a share depending on the number of coins he “invested” in the scheme, according to the PowerUp model. You will also pay a nominal fee to get your account “improve” for a day, using CPU and network bandwidth. Customers would certainly be more interested in such an incentive, particularly given the current congestion on the Ethereum blockchain.
Block One’s Twitter account reminded the crypto world about EOSIO on April 1, adding another boost to EOS pricing. The test network’s launch was EOS’s most high-profile occurrence since the protocol’s inception many years earlier, and it brought hope to those who had lost hope since EOS founder Dan Larimer left the project. The price of the token started to climb even more vigorously against the backdrop of favorable headlines, according to Binance reports, after previously stalling at $4.38.
Through being the largest participant of the EOSIO hackathon and assisting the EOS team in building dApps that will form not just the future of the crypto industry but also its presence in cloud services, Google Cloud has piqued the attention of token supporters even further. EOS seeks to promote the application of blockchain technologies for cloud computing and data storage under the aegis of Google. As a result of this reporting, institutional investors have taken note of EOS for the first time in recent years.
EOS has increased in value by more than 250 percent since the end of January, when it was around $2.40, touching an all-time high of $8.83 on Binance yesterday.