EOS price jumped by more than 21% today in value. This jump is been credited towards it’s decision to launch a voting system. This price has solidified EOS with close to 55% gain in last 7 days.
EOS/USD pair was being traded at $5.3727 at the start of ASIAN trading time. By the time of press, it is being traded now at $6.13. The rise is also attributed towards the currently prevailing bullish sentiment amongst traders.
As reported earlier, EOS correction rally is mostly attributed towards its decision to launch a referendum system. The EOS blockchain currently boasts of account holding $35 million worth of tokens. These tokens, as per the rulebook can only be used for the development of EOS blockchain project, but the fund allocation couldn’t be done since the team hasn’t yet decided on the development project. Interestingly, This supply would be growing in the range of $200 million in next 12 months, due to the existing system which would be growing EOS tokens by 5% annually.
The EOS referendum is also being consider a forward step by blockchain and crypto enthusiasts likely since it prophesies to build a democratic decision making system. Although some are skeptical about the one-token-one-vote system to get centralized, EOS price seems to indicate the bullish sentiment for now.