In recent times, the price of EOS has witnessed a substantial surge. This upward trajectory hints at a bullish market attitude and is likely fueled by investors’ expectations surrounding the impending Spring 1.0 Hardfork. This rising trend seems to reflect increasing trust among investors.
EOS Price Prepares for Spring 1.0 Hardfork
The EOS blockchain is poised for a substantial change with the arrival of Antelope Spring v1.0.0, which represents a crucial advancement in the chain’s nearly seven-year timeline. This Spring 1.0 Hardfork is an update for the EOS blockchain that brings about improvements in efficiency, security, and scalability.
Under the leadership of ENF engineers and other members from the EOS community, this update is set to significantly boost the network’s performance in terms of efficiency, safety, and ability to handle larger volumes of transactions.
The major update for Spring version 1.0 is set to roll out on September 25th, preceding the EOS hard fork. This release is highly anticipated as it’s been touted as the most significant since the network’s inception, boasting cutting-edge features designed to boost overall efficiency and performance.
Preparing for a significant network upgrade coming up on September 25th, 2024, at 13:00 UTC, Binance has disclosed that it will momentarily suspend EOS deposits and withdrawals. This pause is designed to make the transition during the hard fork as seamless as possible, aiming for an excellent experience for all users concerned.
EOS Price Eyes 91% Surge: Is Sustainability Possible?
In the last 24 hours, the EOS price has experienced gentle ups and downs, reaching a high of $0.528 and eventually stabilizing at $0.5211. This daily change represents an increment of approximately 0.55%.
The trading day commenced with the digital currency being valued slightly higher at $0.5181, and it experienced a notable dip and recovery during the evening hours. Over the past week, the EOS price has surged by 8% following a broader crypto market surge.
Below the main chart, the Moving Average Convergence Divergence (MACD) indicates a shift towards a bullish trend due to growing buying pressure. Specifically, the MACD line (represented by blue) has crossed above the signal line (orange), a typical sign of increasing buying interest. Additionally, the histogram, changing from red to green, lends further credence to this interpretation, suggesting a possible reversal from the previous bearish trend, hinting at potential bullish momentum.
As per DeFiLlama’s latest report, the Total Value Locked (TVL) in the EOS blockchain is approximately $135.42 million at present. The market capitalization of stablecoins within this blockchain is estimated to be around $70.41 million. Furthermore, the trading volume for EOS over the past 24 hours has surpassed $174,182.
With the approaching Spring 1.0 Hardfork for EOS, there’s resistance at around $0.6 in terms of its cryptocurrency value. However, heightened investor excitement could potentially propel it towards the $0.7 level. If this momentum continues post-upgrade, the price might even climb as high as $1.
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2024-09-23 12:49