EOS hard fork starts today which is expected to upgrade the version 1.8, however, the price of the altcoin is not showing any signs of movement yet according to the analysis we have in our coming altcoin news.
The EOS network will be upgraded today at 13:00 UTC and it is expected that the hard fork will bring temporary freezes in trading until the network shows that it’s stable to continue. Binance is among the rare crypto exchanges that support the hard fork and suspended EOS withdrawals and deposits from 12:00 UTC. The EOS trading will continue and the exchanges warned all of the traders to allow sufficient time for deposit processing. The entire EOS community wants to avoid the actions on the network when the EOS hard fork will happen.
As of 11:00 UTC on Monday, the entire EOS network was progressing towards the node update and all of the 21 elected top Block Producers will also switch to the new position and will complete the hard fork. On the contrary to the popular opinion, no new tokens will be generated and because of the EOS structure, all of the block producers are ready to coordinate the mining of the new blockchain. The EOS market prices started rising after September 15 in the general altcoin rally but right now the token is trading at $3.81 which is lower by 2.18 percent against the dollar over the last 24 hours. After the hard fork event that will happen today, there is a good chance that the asset may go down even further following the behavior of the other cryptocurrencies once the hype is down. The prices of the altcoin are relatively stable compared to other altcoins which make the traders believe that the token is manipulated.
The new upgrade and proposals will increase the EOS output and will make it suitable to launch the EOS Voice as per the reports in the latest cryptocurrency news, which is considered the much-awaited project backed by Block. One. The new Voice app will be the first blockchain-based voice chat service that supports the EOS token. Also as we read previously, the second EOS ICO managed to raise $2.8 million worth of dapps.
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