EOS Price Surges 20%+ in a Day, 50%+ in a Week with New Voting System Proposal
Most Recent EOS Reports Show 21% Surge in Price After Voting System Launch
EOS is known for its rank as the 5th largest cryptocurrency in the world, and their most recent 24 hours reflect a price increase of 21% on August 29th. Earlier in the week, the EOS platform experienced some negative attention for their RAM exploitation, though the ecosystem has since been fixed. There are many experts that are linking this success to the recent launch of the voting system that they now have in place. With this recent influx in price, the total percentage of the last week of gains is nearly 55%
Just a week ago, EOS was at $5.07 for their trading price, bringing their total market capitalization to $4.59 billion. The token received a small drop on the 23rd, bringing it down to $4.61, which resulted in the market cap dipping down to $420 million.
In comparison with other cryptocurrencies on the market, EOS has been pretty steady. The only other issue that they’ve experienced has been when the price took a turn on the 26th, bringing it down to $4.87, but EOS made a quick recovery back up to $5.21. Since then, EOS’s price has kept climbing. That means that the token earned an additional billion dollars in value within just a few days.
On EOS’s official subreddit account, one person in the community believes that there’s a major problem with the accuracy of RAM on their database. The problem is:
“malicious user can install code on their account which will allow them to insert rows in the name of another account sending them tokens. This lets them lock up RAM by inserting large amounts of garbage into rows when dApps/users send them tokens.”
The same user posted the solution to this issue, saying:
“By sending tokens to a proxy account with no available RAM, and with a memo where the first word of the memo is the account you eventually want to send the tokens to, the only account they can assume database row permissions for is the proxy, which has no RAM.”
Right now, at 9:35am PST on August 29th, the total price of EOS is $6.02. The current market cap is $5,457,801,765.