EOS token jumps 17% following court ruling on Block.one settlement

EOS token surges following Block.one settlement refusal in district court for the Southern District of New York. The post EOS token jumps 17% following court ruling on Block.one settlement appeared first on The Block.

Timeline of Eos

The blockchain protocol Antelope has taken what it describes as a “leap of freedom” and forked its protocol off development firm Block.one's EOSIO platform and instead embraced the rival EOS Network Foundation.

EOS price analysis shows the continuation of the upside momentum but with limited price action. The buyers meet the critical supply zone after surging more than 12% in the previous session.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. EOS's descent below the $3.6-mark gave the sellers enough thrust to cause a breakdown below $1.

For nearly six weeks, the EOS price rose in response to the rising parallel channel pattern. However, the pattern could contain the growth in bullish momentum, resulting in an upside breakout.

The EOS price analysis shows strong bullish momentum, despite the bears being at the upper hand previously. The buying momentum has overpowered the market with a greater tendency towards buying more assets.

Crypto poster boy Vitalik Buterin recently poured sarcastic scorn on the EOS blockchain project, apparently praising it on Twitter, saying it's both faster and more scalable than the Ethereum blockchain he created.  EOS is Ethereum On Steroids.The name reflects the fact that the core team learned from Ethereum's amateurish naivety and idealism, and built out a team of professional top-talent software developers that created a smart contract platform with much higher scalability and speed.

Over the recent years, the crypto market has become overly saturated with new coins joining the industry all the time. However, while some of these projects become leading cryptocurrencies, others tend to fall apart during the process, failing to become a part of the crypto world.

Ethereum [ETH] founder Vitalik Buterin, gave props to the EOS blockchain in response to a question posed by an Ethereum employee. Interestingly, Buterin's response suggests that he believes EOS is a better blockchain than Ethereum.

In a recent tweet, Vitalik Buterin praised EOS calling it “Ethereum On Steroids.” He said the naming reflects the lessons the core team learned from “Ethereum's amateurish naivety and idealism” to deliver a platform with superior scalability and speed.

Ethereum (ETH) co-founder Vitalik Buterin has tweeted that EOS, a once-popular blockchain project, stands for “Ethereum on Steroids,” recalling an old joke within the crypto community.