Block.one Co-Founder Brock Pierce announced that he has traded all Block.one shares for an altcoin. These statements have helped add additional gains to the current rally.
Brock Pierce’s “crazy altcoin bet”
After weeks of market stagnation, EOS has finally recovered from a prolonged consolidation. While still far from wiping out losses during the year, the climb to the critical $3 level came in the midst of a market-wide rally. The recent spike can be attributed to Brock Pierce’s tweet in which the former US presidential candidate expressed his conviction on EOS and said he was “totally busy again”. Pierce added that “big changes and progress are finally happening” regarding Helios. He even announced that he was buying and selling all his shares in the company for EOS:
First, I traded all my shares in B1 (240k BTC, Bullish and others) for EOS tokens. I win with the community or lose with the community. A lot is happening. Keep watching us. I made a crazy bet. Everything is for EOS and EOS is for everyone.
A few years ago, EOS was one of the most well-funded Blockchain projects with a $4.1 billion ICO raising. Today, it’s often touted as a “ghost chain” and not everyone is sure of its renaissance. One of the biggest reasons for the downfall was Block. According to the EOS Network Foundation (ENF), the community was disappointed by the Block.
Today’s rally pushes EOS to a 12-week high above $3.1
EOS price posted double-digit gains, surpassing $3.11 during the last price rally. This was due to the above mentioned mention of Block.one shareholder Brock Pierce regarding the EOS project. As Pierce’s remarks went viral on social media, the EOS price gained 20% overnight in the market’s ongoing altcoin rally.
As for price predictions, Twitter analyst nicknamed Mesawine1 believes that the weekly low range is a big boost for EOS price. The analyst argues that a target of $5.5 is a great first if the altcoin price’s uptrend accelerates. In the technical part, you can follow the analysis below.
You can take a look at the EOS guide we prepared as Cryptokoin.com here.
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