The value of EOS has surged by more than 21% only today – after the team of developers behind the altcoin decided to launch a voting system which totaled the token’s 7-day gains to almost 55%.
The EOS/USD was first trading near 5.3-fiat at the beginning of the Asian trading session, after which it continued to trend upwards as the session matured.
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The European session, on the other hand, witnessed a favorable buying sentiment and the EOS/USD trading pair managed to rise to 6.5-fiat.
However, many people claim that speculations apparently drove the price of EOS up – after taking cues from the blockchain project’s decision to launch the long-awaited referendum system. Right now, the EOS blockchain has an account with million worth of tokens in it – which can only be allocated for the development of the EOS blockchain, as the rulebook says.
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The EOS referendum system is one step forward in the direction of building a democratic decision-making process. Even though there are people who are not happy about the proposal (fearing the one-token-one-vote system and its speculative nature), the announcement has proven bullish to the EOS token value.
All in all, this surge has been crucial for EOS’ future and the future of its blockchain system – coming at the right time, as developers summed it up.
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