It’s really hard to deny that EOS has had a very rough month. I guess March just wasn’t this cryptocurrency’s time to shine – quite the opposite actually.
You might remember this coin as the one that has the longest-running ICO in crypto history. Well, it has been treading water up until very recently, and that has had to do with both its public image and its tragic price journey. Thankfully for EOS hodlers, things are starting to look up for this blockchain-based venture.
But first, why is this this coin floundering so much lately?
EOS has been through the ringer this month
To begin with, the entire project, including this coin’s parent company Block.one, got severely made fun of on HBO’s Last Week Tonight with John Oliver earlier this month.
The popular comedy-news show’s brutal depiction of an over-hyped and over-funded abstract project got so much attention that they even parted ways with their former advisor, Brock Pierce. He was a very public face of the this coin, and Last Week Tonight painted him in a very honest and unflattering light – so they cut ties with him.
As for the second reason for this coin’s terrible month, the EOS price path has been a pretty sad thing to watch. Last Sunday, which was about a week and a half ago, this digital currency grazed the $4.00 mark – its lowest point since before the Crypto boom that began in December.
Thankfully, it has reversed this trend in the past 10 days or so – and is sitting comfortably at $5.97 at the time of writing. Fans of this coin are breathing a sigh of relief.
There is a very good reason for this digital currency’s price to be swelling up
The EOS Dawn 3.0 Testnet is Very Near Launch
Thanks to scouring the deep, dark crevices of Twitter and Reddit, we saw some very exciting news coming from this coin’s fan base: the test version of the EOS network is (probably) going to launch by April 6. That’s next Friday.
How do we know this? Well, thanks to this Reddit user’s post, we can see a message from the company’s leader, Dan Larimer. Check it out below:
He confirmed two things – that the codename Rc1 is the test network’s name on GitHub, and that they are expecting to finish it by next Friday. On top of seeing that (leaked, I guess) message, this tweet we saw afterward gave a little more depth to the situation:
This is a very big deal – investors in this digital currency have been excited about Dawn 3.0 since it was announced about two months ago. It’s also very impressive – and refreshing – that the EOS team has managed to stick to its timeline on this.
Yes, it’s just a testnet – not the real deal where new apps and coins can already be launched on the network. But that’s no small thing. If developers and the wider market like what they see, they will invest in this coin for the eventual mainnet launch.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.