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How EOSIO’s Hard Fork will Effect the EOS Price?

EOS has launched its hard fork and some of the major cryptocurrency exchanges such as Huobi and Binance will also be supporting it. Block.One is soon executing an important upgrade of EOSIO. The upgrade has already taken place.

Current Status of EOS: Currently, the currency trading at the value of $3.82 and its values is decreasing by 1.58%. The market capitalization is $3,567,350,935 and the 24-hour volume of the currency is $1,668,847,529. The circulating supply of the currency is 932,939,224 EOS and ROI is 270.76%.

Binance Support for EOS upgrade: Today, the Binance team is also declared that they will support the upgrade of EOS and they declared in its post. Huobi cryptocurrency exchange will also be supporting the new EOS upgrade. EOS has stopped the deposit and withdrawals for some time and when it will open again will be announced after some time.

This is the largest upgrade EOS is bringing for its platform and it is also one of the top tens coins in the cryptocurrency market ranking. The platform’s first-ever consensus update will be executed when the network executes EOSIO v1.8 on the mainnet of system.

The hard fork usually alters the value of the coin which underwent through it and one new currency might also emerge as it happened with the largest cryptocurrency Bitcoin and Bitcoin Cash. As it happens we witness the toughest hard fork and Bitcoin SV and Bitcoin Cash emerges. If that happens then the main coin holders will get the new coins on the ratio of one on one.

In those situations, whales started to purchasing the most number of the main currency because they are acknowledged about the more coin they have then will get the larger airdrop of the newly-created coin. Usually, the buyers buy the main currency and take the value up, then they get the new currency and further they drop both currencies, therefore, the value drops for both currencies.

If on the other hand, no new currency going to forked and emerge from EOS then it will difficult to say which way coin will go. A week before the value of EOS price break out the resistance of $4, but however, it followed by a bearish correction.

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About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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