The digital token EOS, mostly a disappointment since its $4 billion initial coin offering in 2018 (EOS is down 37% since then), is getting a fresh jolt thanks to a technological shift announced last week.
The EOS price is up 28% over the past week, the biggest gainer among 49 digital assets tracked by Messari with a market capitalization of at least $1 billion. EOS continued its nearly week-long surge in Tuesday trading, recently rising about 7% to change hands at $1.79.
The token of the EOS Network Foundation (ENF) soared after ENF announced last week that Antelope will be used as the underlying protocol for EOSIO-based blockchains.
Antelope, a community-run blockchain protocol, will be supported by members of the ENF, which include EOS, Telos, Wax and UX Network.
ENF then started developing initiatives in late 2021 to explore coordinating EOSIO-based blockchains and to preserve and advance the codebase they share.
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