- 150 million tokens are needed, however, the current status is that there are about 66.115 million tokens already staked for voting.
- The zone at $9.6 is supporting EOS/USD, besides if the downside extends, the price could test the demand zone at $9.5.
EOS price downside corrections still managed surprise moves on the investors. The crypto has descended below $10.00, although it has formed a short-term support at $9.6. The community, on the other hand, is waiting for the mainnet which was launched on June 10 but is yet to go live.
The delay has been brought about by the requirement to meet the 15% tokens threshold that is supposed to be achieved. To be precise, 150 million tokens are needed, however, the current status is that there are about 66.115 million tokens staked for voting. These tokens represent 44% of the total EOS tokens besides they are only 6.611% of those tokens required for staking. Importantly, the tokens are trickling in because as per a report released on Tuesday 12, the total tokens were at 48.119 million. The slow staking of coins has been said to be caused by the process provided. Some users just find it complicated while others choose to stay away with reasons that they are avoiding exposing private keys.
In the meantime, EOS price is trading at $9.72 while the immediate resistance is at $10.00. Moreover, the 50 SMA is offering more resistance at the same level. Movements above the $10.00 zone will also be limited by the 100 SMA slightly below the new resistance level at $10.50.
At the moment, $9.6 is supporting EOS/USD, besides if the downside extends below this zone, the price could test the demand zone at $9.5, but $8.5 will be a bit of an overstretch. Currently, a weak bullish momentum is battling to correct higher. Similarly, the oscillator indicator has recovered from the red zone while the MACD is still in the negative levels. EOS price must recover the losses above $10.00 to open the gate for further upside movements.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi
Dogwifhat perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday. However, the futures contract failed to trigger a rally for the popular meme coin.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
Ethereum cancels rally expectations as Consensys sues SEC over ETH security status
Ethereum (ETH) appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the Securities & Exchange Commission (SEC) and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask
US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?