EOS price jumps 20% for biggest gain in 15 months
EOS is set to end its relationship with Block.one with the latest upgrade and rebranding
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On August 17, EOS, the native token of the EOS blockchain, increased by around 20 per cent to $1.66. This was the token's best daily performance since May 2021. The news of its increase in value comes after EOS was found to be positively correlated with top-ranking crypto assets such as Bitcoin (BTC) and Ether (ETH).
Bitcoin and Ether both increased by more than 2 per cent and 3.75 per cent, respectively. However, the value increase is also believed to be fueled by a Wednesday tweet from the EOS Network Foundation. It is a non-profit organisation in charge of the EOS blockchain's growth and development. In a tweet, the EOS Network Foundation announced that the long-awaited Yield+ launch is 'imminent.'
The Yield+ programme is a liquidity incentive and reward scheme. Its purpose is to entice Decentralized Finance (DeFi) applications to join the EOS network. With this move, EOS joins the ranks of its top blockchain competitors in the DeFi space. Among these competitors are well-known names such as Ethereum (ETH), Solana (SOL), and Cardano (ADA).
Furthermore, it is believed that the crypto market's optimism about an upcoming EOS network upgrade in September contributed to EOS's rise. In a series of tweets, Yves La Rose, CEO and Executive Director of the EOS Network Foundation, recently announced that the EOS blockchain would undergo a hard fork upgrade on September 21. He was quoted as saying,
"On September 21, $EOS will undergo a hardfork to upgrade to the #EOS Network to the new codebase that the @EosNFoundation has been meticulously building towards.
