EOS Blockchain: Most Stealthy Giant in Crypto?
Legal handcuffs and gags related to the EOS initial fundraising has likely caused Block.One to be overly invisible and silent as the price of EOS has fallen to a very small fraction of the previous $20 USD high. For those still holding EOS I feel your pain, which at this time EOS is currently trading at just over $3 USD.
Ignoring the current price… EOS is still the giant of blockchain doing over 75% of ALL blockchain operations (according to blocktivity.info) compared to: BTC (1.1%), ETH (1.7%) and TRX (2.3%) etc.
To add insult to injury many of the early promising projects built on EOS such as: EDNA, KARMA and SEED for example have jumped from the EOS mainnet due to previous resource issues to some other flavor of EOSIO blockchains . Leaving many of those early investors in those projects still feeling a bit lost and abandoned.
However, EOS price will eventually recover, but likely move much slower than many other high profile (media hyped) coins until Block.one (B1), Voice.com and/or perhaps some sort of an “EOSIO-Institute.org” starts making news and noise about EOS progress—there have been hints of some breaking news during the first quarter of 2021.
Long Term View:
B1 is easily one of the top “Rich Dad” development companies in all of blockchain/crypto (also XRP being backed by fiat banks also gets a nod), so they will likely outlast nearly all coins in this space (along with first movers BTC & ETH) as they can continue to hire some of the best new developers as well as poach devs from other blockchains for a very long time. My best guess is that B1 (a privately held company) has somewhere between 200,000–250,000+ Bitcoin (BTC) in their company treasury.
B1 CEO Brendan Blumer more than hinted as much on Twitter and Voice.com (Dec 17th 2020) saying:
About Block.one “We have accumulated well beyond our previously announced 140,000 BTC position…”
It is my personal hope that B1 uses some of those BTC funds to buy more EOS on the open market (not unlike the stock buybacks that Apple and most major USA companies have been doing for years), this should result in a increase in EOS price as well as a commensurate increase in B1’s voting power, which can be used to help nudge reluctant top EOS block producers to accept EOSIO software upgrades for the good of the EOS mainnet.
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Disclaimer: This post is for informational and entertainment purposes only— it is not financial advice or is in anyway intended to provide any financial recommendation.
“Independent News Reporting by Ken Burridge”
Independent journalist, blockchain and sustainability activist, EV of the Year Judge, photographer, and author that has published over 1500 articles. Mr Burridge’s travels have taken him to over 40 countries and 300+ major cities. He is originally from the USA, but has been residing in Australia for the last nine years. Connect to Ken Burridge on: Twitter, voice, facebook, minds, Linked in, Uptrennd, official website
