EOS has always been one of the most hype over ICO and now a smart contract platform. When it was announced by founder Dan Larimer in New York City in May 2017, a giant jumbotron advertisement could be seen glowing over Times Square. In the first 5 days of their ICO token sale, EOS raised an unprecedented $185 million in ETH — all without having any kind of product or service yet.
Even though this seems to be a victory for EOS, its ecosystem is facing a series of community issues that involve Block.one. However, the network a network refers to all nodes in the operation of a blockchain at any given moment in time. token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. has had a very good week in the major markets.
- Court favors the Block.one class action lawsuit filed in 2020
- Judge assures that the plaintiff company does not represent the affected parties
- Affected people sued Block.one for the sale of the token EOS
- Token EOS increased by 16% this August 17
EOS, the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. associated with the network of the same name, registered this August 17 an increase of 16% in the last 24 hours, this in light of a court ruling recently issued in the Southern District of New York City, which benefited the company responsible for the development of the project. Blockchain.
Court rules in favor of Block.one
According to published reports by various means a Southern District of New York court this week finally issued a ruling in a class action lawsuit brought by investors against the U.S. Department of Justice. Block.one, the company responsible for the project EOS, which in 2020 claimed that the entity had defrauded them by allegedly trading in unregistered securities.
However, the respective court ruled in favor of Block.one, The lawsuit in question did not proceed, and did not result in the payment of the USD $27.5 million settlement originally put on the table by the company to compensate those affected.
In relation to the trial, the lawsuit did not proceed because the judge in charge of the case, Lewis Kaplan, ruled that the lead plaintiff,Crypto Assets Opportunity Fund LLCdid not adequately represent the interests of all investors.
Price of EOS increased
After the news spread, the markets reacted favourably and the share price of EOS aumentó considerablemente en los últimos siete días, derivando en un incremento del 28% a lo largo de esta semana.
According to data published in our section CryptoMarkets , while the vast majority of major cryptocurrencies were down on August 17, EOS has gained 16% in the last 24 hours, trading at about $1.54 per unit.
On the other hand, the increase from yesterday was accompanied by a significant spike in daily trading volume. This indicator increased by 300% throughout the day, so that the main exchanges have recorded a movement of USD $1.167 billion between yesterday and today, moving at least 13% of that capital capital is most commonly defined as the large sum of money you would use to invest. through Binance.
EOS still faces problems
While this ruling represents a small victory for the EOS, the project is not yet free of problems that affect its free development.
Let’s keep in mind that from the end of 2021 the community of EOS made the decision to stop funding Block.one, This was on the premise that the organization responsible for the project was no longer acting in the interests of the network.
This decision was supported by a group of members of the community of EOS and block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. producers for the network. At the moment there is some contention to lead the initiative, which is currently under debate within its ecosystem.
- Market an area or arena, online or offline, in which commercial dealings are conducted. down! Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. loses USD $24,000 and major altcoins fall on August 17
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Article by Angel Di Matteo / DiarioBitcoin
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