EOS Price Slumps After CTO Resignation

EOS price slumps after CTO resignation

  • EOS price dips as Chief Technology Officer, Dan Larimer, moves on from Block.one.
  • Record change occurs within 24 hours.
  • Whale Alerts report massive sell-offs as the EOS community reacts. 

EOS price slumps after the recent resignation announcement made by Dan Larimer of Block.one. On January 11, Dan Larimer made the announcement on Voice. The former CTO who has worked with Block.one for four years also made a previous tweet indicating he would be leaving Twitter. While the cryptocurrency market continues a bearish and correctional trend, Dan Larimer’s exit announcement contributed to far worse price dump actions. Records show a 30% slump in EOS price during the last 24 hours.

The trend in EOS price before now. 

Most cryptocurrencies were able to attain new peaks in recent weeks. However, EOS price remains continually underwhelming. The last recorded EOS all-time high resulted from positive market sentiments regarding the mainnet launch. This occurred in May 2018, and since then, the closest to a peak price was $5.35. The peak was recorded in mid-February last year. Since the previous year, Ethereum, Cardano, and other rival cryptocurrencies continue to outperform EOS.

EOS Community reacts to CTO’s exit and EOS Price. 

Over the years, the EOS governing body has had to resolve certain centralization issuesIn his statement, Dan Larimer stated that “he would stay true to his mission with a view to continue steadfastly on building free markets and creating unique and voluntary solutions.” He also reiterated securing justice, liberty and property for all.  

He also stated that “he would focus on developing tools that would aid people’s journey to securing their freedom.” A lot of negative responses followed the announcement. On the EOS Reddit channel, general comments showed great displeasure too. These include a range of comments from community members, investors, and advocates.

Whale Alerts also indicated massive sell-off movements.

The extent of the effect on EOS Price. 

The recent announcement resulted in a 30% dip which has cemented EOS’s position as a poor-performing digital currency. Amongst the top hundred by market capitalization, it remains the worst in terms of performance. Currently, prices have dumped from a recent high of $3.92 to $2.68.

 

 

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