EOS Price Jumps 10% Following Decision on Voting for $35 Million Savings Account
EOS has seen some strong positive price movement today following the announcement that a voting system will be created for an EOS savings account.
When the EOS blockchain was created, an ever-growing savings account called EOSIO.savings was created that has now reached $35 million worth of tokens. However, no plan was formulated regarding what to do with the funds in the long term. The EOS team have now stated they will start developing the new voting system which will be used to let the community decide what to do with the funds.
While the overall EOS community seems positive about the new system, it appears they are collectively undecided on what to spend the funds on.
EOS is up almost 10 percent today, trading at $5.88 with a market cap of $5,3 billion. The cryptocurrency has been growing relatively steadily since a bottom of $4.17 on August 14 and appears to now have finished a correction period and is retracing from critical support levels. It has seen strong positive speculation on Binance as indicated by large buying orders of EOS/USD.
Since it has now crossed the critical resistance point of $5.65, it looks set to close in on $6.00 in the next few days. Otherwise, a negative reversal will likely see support at $5.00 or $4.90.
IOTA maintains the strong gains it’s been seeing all week, with an impressive 12 percent increase over the past 24 hours. Bitcoin (BTC) remains steady at just over $7,000 with a minor two percent gain overnight.
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