EOS set for strong recovery with Spring 1.0 hard fork, eyes 95% surge

September 23, 2024 04:53 AM PDT | By Invezz

EOS set for strong recovery with Spring 1.0 hard fork, eyes 95% surge — Image source: Invezz

EOS flourishes on revolutionary upgrades

The EOS network awaits a notable transformation with the Antelope Spring version 1.0.0.

The historic update will introduce heightened efficiency, scalability enhancements, and top-notch security.

Spring 1.0 release will happen before the 25 September EOS hardfork.

Hailed as the most comprehensive update since the blockchain’s launch (nearly seven years ago), it incorporates advanced features designed to optimize the network’s overall performance.

Binance confirmed that it will support EOS’ hard fork and network upgrade.

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Binance Will Support the @EOSNetworkFDN EOS (EOS) Network Upgrade & Hard Fork 👉 binance.com/en/support/ann…

7:37 pm · 20 Sept 2024

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Accordingly, Binance will suspend the deposits and withdrawals of token (s) on the EOS (EOS) network to support its network upgrade and hard fork to ensure the best user experience.

Amidst the hard fork developments, attention shifted to EOS price action.

The altcoin displays a healthy performance and seems ready to skyrocket in ‘uptober.’

The EOS blockchain has its current total value locked (TVL) at $134.51 million, with $70.49 million in stablecoin market capitalization, according to DeFiLlama.

Moreover, the $185,243 24-hour trading volume underscores surged investor interest.

That positions EOS for massive uptrends upon full-blown market recoveries.

Current EOS price action

The altcoin witnessed minor fluctuations over the past day, gaining 0.05% on its 24-hour price chart to hover at $0.5147.

EOS touched a daily low of $0.5059 before rebounding to the $0.5279 high.

It jumped 9% over the past week, mirroring broad market uptrends.

The Moving Average Convergence Divergence supports the upside trend, with the MACD crossing above the signal line to indicate surging buying momentum.

Also, the emerging green histograms indicate a shift towards a bullish stance.

While enthusiasts await the Spring 1.0 hardfork, EOS price encounters the resistance at $6.

Bullish ecosystem trends, including the much-anticipated upgrade and the stable TVL, and broad market recoveries suggest continued upswings for the altcoin.

Maintaining the current outlook could propel EOS past $0.7, opening the path to $1 after the revolutionary upgrade.

That would translate to a 94.28% surge from the current EOS price of $0.5147.

Nevertheless, broad market tendencies would be crucial for EOS’ journey towards the sought-after $1 mark.

The post EOS set for strong recovery with Spring 1.0 hard fork, eyes 95% surge appeared first on Invezz

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