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Cryptocurrencies Wobble as EOS Launches

 1 min read / 

eos

After much hype and a whopping $4bn, year-long ICO, EOS network participants finally voted to launch the network over the weekend. However, the market reception has been rather lukewarm and EOS and EOS had fallen 10% in the 24 hours prior to the time of writing – a reflection of wider bearish sentiment across the market. Some of the downturn can be attributed to a hack on Korean cryptocurrency exchange Coinrail, although only a relatively minor coin – Pundi X – was stolen. Overall, the hype surrounding cryptocurrency seems to have died down with investors instead sitting back to watch developers grapple with blockchain’s scalability and security issues.

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