the price of EOS token (EOS) jumped more than 20% this Wednesday (17), just days after a court decision in the Southern District of New York.
At the time of publishing this news, EOS was trading at $1.55 – an increase of 20.5% in the last 24 hours, according to data from CoinMarketCap.
The price movement of EOS this Wednesday separates the cryptocurrency from the rest of the market, since bitcoin (BTC) and ethereum (ETH) were down 1.4% and 2.1% in the same period, respectively.
In May 2020, a group of investors sued block.one – company that originally created the network EOS – claiming that the initial coin offering (ICO) was a securities sale. In response, block.one agreed to a $27.5 million deal with investors.
However, this Monday (15), the proposed agreement was denied. In the Southern District of New York, Judge Lewis Kaplan ruled that the lead plaintiff in the class action against block.oneCrypto Assets Opportunity Fund LLC, does not adequately represent the interests of all investors.
Block.one X EOS Community
block.one it is also facing battles on other fronts. In December 2021the community of EOS voted to suspend ongoing payments to block.oneclaiming that the company no longer considered the interests of the network.
The decision was led by a group of blockbusters and producers EOScalled EOS Network Foundation (ENF). The community also renamed the codebase from EOSIO to Antelope.
Follow Crypto Times on Instagram!
Stay on top of everything that happens in the crypto universe in a simple and practical way! Every day content filled with images, videos and lots of interaction. From the main news in Brazil and in the world to the current discussions. You will have access to the world of cryptocurrencies, decentralized finance (DeFi), NFTs, Web 3.0 and much more. The crypto universe is ageless, it’s for you! Connect with Crypto Times! Follow our profile on Instagram now!
Disclaimer
O Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.
Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
