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EOS has maintained bullish movements after block producers approved the Spring 1.0 hardfork, scheduled for 25 September execution.
The upgrade will modernize the blockchain with a new consensus mechanism and migration from web2 to web3.
#EOS Block Producers have approved by majority consensus to upgrade network operating system to #Spring 1.0. A Huge milestone for the #EOS community. Execution is scheduled on Sept 25, 2024. bloks.io/msig/proposer.… #Blockchain #Hardfork #InstantFinality #EOSFoundation
Further, the EOS platform will experience enhanced scalability, network security, efficient governance, and instant transaction finality.
Meanwhile, bullish ecosystem developments, skyrocketed TVL, and Fed-induced broad market recoveries position EOS for surges toward $1, translating to a 94.28% move from the current prices.
Moreover, the token’s ascending trend confirms stable investor confidence.
EOS flourishes on revolutionary upgrades
The EOS network awaits a notable transformation with the Antelope Spring version 1.0.0.
The historic update will introduce heightened efficiency, scalability enhancements, and top-notch security.
Spring 1.0 release will happen before the 25 September EOS hardfork.
Hailed as the most comprehensive update since the blockchain’s launch (nearly seven years ago), it incorporates advanced features designed to optimize the network’s overall performance.
Binance confirmed that it will support EOS’ hard fork and network upgrade.
Binance Will Support the @EOSNetworkFDN EOS (EOS) Network Upgrade & Hard Fork 👉 binance.com/en/support/ann…
Accordingly, Binance will suspend the deposits and withdrawals of token (s) on the EOS (EOS) network to support its network upgrade and hard fork to ensure the best user experience.
Amidst the hard fork developments, attention shifted to EOS price action.
The altcoin displays a healthy performance and seems ready to skyrocket in ‘uptober.’
The EOS blockchain has its current total value locked (TVL) at $134.51 million, with $70.49 million in stablecoin market capitalization, according to DeFiLlama.
Moreover, the $185,243 24-hour trading volume underscores surged investor interest.
That positions EOS for massive uptrends upon full-blown market recoveries.
Current EOS price action
The altcoin witnessed minor fluctuations over the past day, gaining 0.05% on its 24-hour price chart to hover at $0.5147.
EOS touched a daily low of $0.5059 before rebounding to the $0.5279 high.
It jumped 9% over the past week, mirroring broad market uptrends.
Source: CoinmarketcapThe Moving Average Convergence Divergence supports the upside trend, with the MACD crossing above the signal line to indicate surging buying momentum.
Also, the emerging green histograms indicate a shift towards a bullish stance.
While enthusiasts await the Spring 1.0 hardfork, EOS price encounters the resistance at $6.
Bullish ecosystem trends, including the much-anticipated upgrade and the stable TVL, and broad market recoveries suggest continued upswings for the altcoin.
Maintaining the current outlook could propel EOS past $0.7, opening the path to $1 after the revolutionary upgrade.
That would translate to a 94.28% surge from the current EOS price of $0.5147.
Nevertheless, broad market tendencies would be crucial for EOS’ journey towards the sought-after $1 mark.
The post EOS set for strong recovery with Spring 1.0 hardfork, eyes 95% surge appeared first on Invezz
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