EOS/USD market drops by 4% following $7.7 million EOS hack attack.
- EOS/USD fell from $3.63 to $3.48, losing 4% of its value in the process.
- Hackers have earlier stolen 2.09 million EOS ( ~$7.7 million) following the failure of a new active Block Producer to update the blacklist of the network’s mainnet accounts.
EOS/USD fell from $3.63 to $3.48, losing 4% of its value in the process. The overall sentiment may have turned bearish following news that hackers had stolen nearly $7.7 billion worth of EOS tokens. As reported by FX Street, “A hacker who is yet to be identified made away with 2.09 million EOS following the failure of a new active BP to update the blacklist of the network’s mainnet accounts.”
EOS/USD daily chart
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The price dropped from $3.63 following before finding support in $3.40. The market is still trending above both the 20-day simple moving average (SMA 20) and SMA 50 which indicates that the overall market is still in the bullish territory. The SMA 20 had crossed over SMA 50, which is a buy signal. The moving average convergence/divergence (MACD) shows that bullish momentum is losing steam and we may have entered an overall bearish market sentiment.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
