EOS is in the spotlight after seeing double-digit growth in securing funds worth $ 10 billion on its latest rally following an announcement by Block.one – the company behind its EOSIO blockchain network. The secured funds will be used by the company to launch Bullish Global – an EOS-based cryptocurrency exchange.
In the previous session, EOS took the lead among cryptocurrencies and became the biggest winner among the 100 largest digital tokens, with value increasing nearly 50% in a single day. The funding news is of particular interest as Peter Thiel – co-founder of PayPal and Palantir – is one of Bullish Global’s investors.
The EOS blockchain network has been called the “Ethereum killer” because it supports both intelligent contracts and DApps functions and promises scalability and ease of use with its innovative DPoS protocol. The development and launch of a cryptocurrency exchange supported by EOS’s blockchain network will further increase interest in DeFi applications on that network.
Important levels to watch
Since the end of January, EOS has gained over 400% and in the last two weeks alone the price has increased by almost 100%. Technical indicators point to further upward movement in the EOS / USD in the short term, so we can see very well that the current rally is extending further.
At the time of writing EOS / USD traded at around $ 13.26. Increased buying interest may cause EOS to test the next major resistance levels at $ 17 and then at $ 24. If this point is not exceeded, the upward trend could reverse and bring prices down to just under $ 10 – a key level that is currently seen as strong support for this digital token.
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