In the period between June 2017 and 2018, Block.one raised $4 billion via the sales of its native cryptocurrency, EOS. More than a year later, the token associated with the Cayman Islands-based startup has lost over 30 percent of its value due to massive price declines and a lack of authentic users.
The EOS-to-dollar exchange rate currently sits at approx $2.79 after peaking at $23.02 in April 2018. Like in the case of every other cryptocurrency, EOS too became a victim of massive dumping that occurred during the 2018’s so-called crypto winter. But unlike the benchmark cryptocurrency bitcoin, many smaller assets failed to revive a strong bullish price rally.
Low Buying Sentiment for EOS
Entering 2020, EOS remains inside a strong downtrend. It is specifically bad for a platform that was hailed as a crucial player in the emerging blockchain sector. As WSJ pointed back in 2018, projects like EOS have lured thousands of developers and investors to build decentralized applications (or dapps), but they haven’t been able to attract users.
EOS declines to continue as demand fades | Source: TradingView.com, BitFinex
It is the same factor that is hurting the buying sentiment in the EOS market. Developers need to purchase the tokens if they want to build dapps atop its blockchain. But the lack of users leads those products to fail which, in turn, hurt the demand for the cryptocurrency.
Investors who purchased the first batches of EOS did not see the demand falling. In fact, more and more users entered the market during the crypto boom after reports indicated a rise in dapp transactions on the EOS blockchain.
As it turned out, bot activity contributed to 75 percent of those reported transactions, reported AnChain.AI, an AI-powered blockchain ecosystem security company, in June of 2019. EOS investors also suffered because of claims that the EOS blockchain remains pro-censorship and centralized.
Vaporware
The result of all this is an overhyped, underperforming startup unable to accommodate users. Ever since its initial coin offering, the EOS market cap has slipped about 37 percent from its opening day valuation.
EOS investors among the major ICO losers | Source: Matt Casto
Matt Casto, an analyst at CMT Digital, said that underperforming tokens are turning into vaporware – projects that fail to deliver the intended product.
“Only 33% of tokens that raised at least $50mn trade at a market cap greater than their ICO proceeds,” he tweeted on Tuesday. “The tokens that had less public awareness seemed to have printed massive ROIs relative to their ICO sale price but are now down +95% from those prices. IOTA is one that comes to my mind.”
Time will tell as to whether or not platforms like EOS will be able to attract more users in the future, but presently it remains a significant problem for the blockchain that is likely to continue hampering its price action.
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EOS platform does have regular airdrops to distribute tokens across its community in order to incentivize the development of (and on) the platform. However, the latest airdrop has raised suspicion across the community as organizers of the airdrop asks participants to ‘mine’ their new coins by sending some EOS to their contract. Here Is how […]
EOShenzhen, the 59th largest EOS block producer, has been accused of creating multiple EOS accounts and violating other rules, according to community members and block producers. ColinTalksCrypto, who runs EOS’s largest voting proxy, raised the issue via Twitter on Thursday, Nov.
Blockchain protocol EOS was at the center of controversy in November last year after "evidence" alleging that a moderator had reversed already confirmed transactions surfaced on Reddit. This raised seThe post Block.
A bond issued by the problem-ridden Deutsche Bank has been tokenized on the EOS network. The creation of tokenized assets is nothing new, but this time, the decision raised eyebrows. EOS-Supported Tokenized Bond Met with Skepticism EOS, a much-touted project, is still seen as dubious, hosting significant bot activity in its distributed app market.
Verisart, a firm that claims to be focused on building robust blockchain-based evidentiary infrastructures for artworks and collectibles has raised $2. 5 million in a funding round led by Galaxy Digital EOS VC Fund, reports TechCrunch.
Block. one, the company behind EOS, will pay a one-time penalty of $24 million for their multi-billion dollar initial coin offering (ICO) that lasted for a year, September 30, 2019. EOS raised nearly $4 billion over the span of a year, issuing an ERC-20 token in exchange for money at the time.
The US Securities and Exchange Commission (SEC) announced on Monday that Block. One, the company behind EOS must pay $24 million in penalties for conducting an unregistered securities sale. Block. One raised a total of $4.
Block. one – the company behind cryptocurrency EOS – was slapped with a $24 million fine this week, pertaining to its initial coin offering (ICO) back in 2017. That might sound harsh, but it’s a tiny penalty.
Block. one may have raised something in the order of $4 billion in its ICO, allegedly falling afoul of SEC regulations on the sale of an unregistered security: but who cares? EOS fans will be delighted to know that the dApp platform’s chief architects agreed to a settlement with the SEC today that sees them pay […]
The post $24 Million SEC Penalty: Block.
While initial exchange offerings have been catching the limelight, one crypto project has been quietly yet successfully raising funds for months. LiquidApps, an EOS scaling solution, has earned commendation for its less FOMO-filled approach to fundraising.
Algorand, a Boston-based blockchain company, raised over $60 million in a token sale held on CoinList. When combined with the Algorand Foundation’s token distribution fund of 2. 5 billion Algos it would have a market cap of $6 billion, putting it at seventh above Binance Coin and below EOS.
Azarus, a blockchain-based sport developer has raised $1. 8 million seed funding. The funding came from different crypto VC funds comprising of Galaxy Digital through its Galaxy EOS VC Fund, Kleiner Perkins as well as SVK Crypto.
CryptoNinjas
Azarus, a “Smart Challenge” platform that offers gamers the ability to compete for digital assets in both casual and competitive gaming challenges, announced it has raised $1. 8 million in seed funding from Galaxy Digital via its Galaxy EOS VC Fund, Kleiner Perkins, and SVK Crypto, among others.
By CCN: Block. one is returning jaw-dropping profits to its earliest investors like Peter Thiel. It’s a stock buyback of epic speed and proportions. In only three years the blockchain startup is buying back shares sold in a seed round of funding in 2017.
In a bid to expand its distributed ledger technology (DLT) powered MLB Champions and Crypto Space Commander games and make them available on traditional platforms, Lucid Sight, the developer of innovative games for blockchain technologies, has raised $6 million from several investors, including Digital Currency Group, Galaxy EOS VC Fund and others, reports VentureBeat onRead MoreRead More.
EOS is a blockchain that has always raised the expectations of users and investors. Its business strategy has proven to be fruitful not only for software programming but also in terms of promotion.
EOS, a third-generation blockchain-based cryptocurrency platform designed to enable the “vertical and horizontal scaling of decentralized applications,” has “at least 260 projects being built” on its network.
In today’s Video Briefing, Kiana takes a look at one of 2018’s hottest offerings. EOS made headlines around the world with a year-long token sale, which raised about $4 bn. The project was widely dubbed an “Ethereum Killer,” promising thousands of transactions per second for zero fees.
Death spiral theory subscribers argued, once Bitcoin’s price falls below its cost of mining, the incentive to mine will deteriorate, thrusting bitcoin into a death spiral. That is, without the mining activities supporting the ledger that maintains the records of who owns what.
CryptoNinjas
Good Money, a digital banking platform to be owned by its customers, featuring online and peer to peer banking services, announced today they have raised $30 million in Series A funding led by Galaxy Digital via.
EOSIO, better known for holding the most successful initial coin offering (ICO) in terms of funds raised, announced on Nov. 21st EOSIO, V1. 5. 0-rc1 software as a Release Candidate. The firm says that it is collecting user feedback to improve the developer experience when building applications on the EOS platform.
In 1997, during the dot-com boom, there were nearly 9,000 companies listed on U. S. stock exchanges. Since then, that figure has been cut in half and the number of IPOs has been in decline. Fast forward to 2017 and startups raised over $6.
One is the actual Ethereum. The other has been called the Ethereum killer. Both are showing similar price action recently forming higher lows since mid-August. It has been a difficult year for both cryptocurrencies with both undergoing large depreciation in value as investors raised concerns over the utility of both the cryptocurrencies.
ICOs have raised $12 billion this year and $7 billion last year, with about $6 billion of it being just for EOS and Telegram according to Autonomous, a financial research...
The post ICOs Have Raised $20 Billion Since 2017, $300 Million Last Month appeared first on Trustnodes.
With a market cap of well over US$4 billion, EOS is a behemoth in the crypto space. It’s many supporters hail the network as the “Ethereum killer”, citing free transactions and massive transaction throughput.
Yesterday on Twitter, a member of the EOS community raised issue with StartEOS, a block producer that has been performing poorly and inconsistently: StartEOS is consistently the worst performing Block Producer on the EOS mainnet, yet they are voted into the top 4 position.
EOS Story – Investment and Support Choice It all started with a $4 billion raised offering that the developers behind the platform – Block. one initiated. The fifth largest cryptocurrency per time of writing by market capitalization very often is the center of the very bitcoin-centric cryptoverse ecosystem with news and development flushing in.
As the old maxim asserts: those who made the most money in the gold rush were those who sold shovels. With our own digital gold rush in a downturn, however, the shovels aren’t selling so well, as mining companies themselves are struggling to move hardware because miners are struggling to turn a profit.
THE DAILY BIT Tweet of the Day $eos raised ~$4,000,000,000. If they used $1 million every month, then that will last 4,000 months or 333 years. – @BennettTomlin Top Cryptos By Market Cap BITCOIN (BTC) | 2.
On July 16, Block. one raised another round of funding in Hong Kong, led by entrepreneur and venture capitalist Peter Thiel. The firm is the publisher of EOS blockchain, which offers EOS tokens, the ninth largest cryptocurrency in the world.
Co-founder of PayPal and well-known venture capitalist Peter Thiel and Jihan Wu’s Bitmain Technologies Ltd. have invested into Block. one — the publisher of EOS. More Money… Following its $4 billion ICO, Block.
They raised more than $10 million during their round of Series A funding. They claim to operate the world's largest ether wallet. They have more than 4 million active users. This is the case of ImToken, a startup wallet for cryptocurrencies based in China.
Austin-based cryptocurrency hedge fund Multicoin Capital is long Ethereum as well as EOS while short both Litecoin and Ripple’s XRP. Backed by Andreessen Horowitz’s Marc Andreessen and Union Square Venture’s Chris Dixon among others, the $75 million fund is defending its most significant position: EOS, a currency that raised $4 billion through an ICO last month […]
Hedge Fund Bullish on EOS and Ethereum, Bearish on Ripple and Litecoin was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
Even though there is no obvious connection between cryptocurrency, blockchain, and VR, things are evolving in an interesting direction. High Fidelity is building a VR ecosystem on top of the EOS blockchain.
This week, the U. S. Department of Justice and other law enforcement agencies banded together to bring down some bad actors on the dark web. EOS is undergoing some growing pains with the launch of its network, exposing the trials and tribulations of an all-too-centralized governance model.
Virtual reality platform High Fidelity believes that by using blockchain technology they can reach an audience of a billion people and have just raised $35 million in fresh revenue to do so. $35 Million Raised to Create New Virtual World The series D fundraising round was led by a $2o million investment by Mike Novogratz’s Galaxy EOS.
The cryptocurrency platform EOS, which raised about $4 billion during its year-long crowdsale, is actively selling or moving ethers, attracted during its ICO. Within the last week, the sale speed reached 500,000 ETH, which is equivalent to $250 million.
The highly anticipated EOS project has made headlines in blockchain media in the last few weeks. The coverage, however, has not always been favorable with EOS being plagued by a number of challenges, both before and after the launch of its mainnet
Just days prior to launch, EOS had also seen serious bugs raised by a Chinese internet security firm that required urgent patches to be issued. The report said that loopholes in EOS’ code could expose nodes to attackers, giving them the ability to possibly take “full control” of transactions. In its assessment, the CCID blockchain research team
EOS is by far the largest Initial Coin Offering (ICO) in the history of cryptocurrencies. Having raised more than $3. 5 billion, it promises to become an extremely fast and scalable blockchain protocol with zero transaction fees.
If you’ve bought into EOS with an intention to be a long-term HODLer without having to do anything with the tokens, you might want to reconsider. According to the project’s Constitution, if your account is inactive for 3 years, it may be put up for auction.
The EOS Network Foundation has partnered with Ceffu, Binance’s institutional custody platform, to enhance security and CeDeFi opportunities for EOS token holders. The collaboration enables institutions to store EOS cryptocurrency through Ceffu’s custody services, which include advanced security features and…
Old-school cryptocurrencies are in a strong bull run this week, largely outperforming newer ones. EOS price jumped to a high of $1. 5230, its highest level since September 22. It has jumped in the past five consecutive weeks and is up by 250% from its lowest level this year.
Cryptocurrencies faced significant bearish pressure on Friday, with Bitcoin briefly dropping below the $58,000 mark, hitting $57,994. Although bulls quickly reclaimed the $58,300 level, the altcoin market bore the brunt of the decline, with Enjin, Dent, and EOS leading the downturn.
On July 8, 2024, the EOS Network introduced a transformative 250 million staking program aimed at enhancing its tokenomics and solidifying its competitive edge. The launch of this ambitious initiative has generated significant market interest, leading to a notable price surge for EOS before stabilizing at around $0.
Yves La Rose, CEO of the EOS Network Foundation, announced that a community proposal was approved to cap the EOS supply at 2.1 billion tokens and burn the excess. Once implemented, the proposal will burn nearly 80% of the total…
EOS Network is moving from an unlimited supply with a maximum of 10 billion tokens to a fixed supply of 2.1 billion tokens.
The post EOS Network unveils new token model with fixed supply of 2.1 billion tokens appeared first on Crypto Briefing.
