EOS [EOS] drops by 7% 10 days before the EOS main-net launch

The bears are pushing down the prices of EOS down right before 10 days of the scheduled EOSIO main-net launch. This comes at a time when the entire market is going south and most of the top coins are feeling the pressure from the bears. The price of EOS has dropped by 7.17% in the last 24 hours, but in the last one hour, it has been trying to recover and is up by 0.19%.

In the last three months, the price of EOS has gone up by 45%, and around mid-February EOS was trading at $8 after a hike of $4. EOS is currently trading in the 5th position with a total market capitalization of $10.6 billion. It is currently priced against the dollar at $12.16 at 6:45 AM UTC.

We can see an overall bearish trend in the market. The prices of the all top 15 coins in the market have seen a downtrend. This comes at a time when the EOSIO 1.0 main-net release is right around the corner. The EOSIO 1.0 main-net launch is going to be released 10 days from today, that is, on Saturday, 2nd June.

EOS.IO is the software which brought to light the blockchain architecture which is designed to enable vertical and horizontal scaling of decentralized applications. These applications are built upon an operating system which provides database, authentication, accounts, asynchronous communication and the scheduling of applications through the multiple CPU cores.

Block.one is going to release the EOSIO 1.0 software as an open source software, but EOS tokens will become non-transferable on the Ethereum blockchain after 1st June. The users who are going to switch into the EOSIO 1.0 platform will be able to generate a JSON file mapping EOS public keys to the non-transferable balances of ERC20 tokens.

This is an important time for the blockchain community as there are six main-net launches about to be launched in between May-June including EOS, TORN, Oyster pearl, NULS, VeChain, and Ontology.

Javier Mendonca, a crypto enthusiast says:

“Awesome projects, looking forward to seeing the results of this hackaton”

Betjesus has tweeted:

“When do you expect your first dAPP do be both functional & safe on mainnet”

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