EOS Price Surges Another 14%; Is Block.one Launching a Social Network on June 1?

 

 

On 2 June 2018, Cayman Islands company Block one, released version 1.0 of EOSIO, the blockchain protocol software that is used to run the EOS network. As we get closer to June 1, the one-year anniversary of this event and the date for a major announcement by Block.one, there are signs that the company is planning to launch an EOS-powered social network.

EOS Price Action

But first let's take a look at the recent price action of EOS, the world's fifth most valuable cryptoasset by market cap. 

According to data from CryptoCompare, at 10:00 (UTC  + 01:00) on May 27, EOS was trading at $6.98, and at the of writing, which is 10:00 (UTC + 01) on May 28, EOS is trading at $8.15, i.e. up 16.43% in the past 24-hour period, making it the highest gainer amongst the top 100 cryptoassets:

Even more impressively, in the past three-month period, the EOS price has gone up almost 130%:

Here are the return on investment (ROI) figures that show how Bitcoin has performed against the U.S. dollar over various periods:

Block.one's 1 June Announcement

The first tease about an EOS-related event/announcement on 1 June 2019 in Washington, D.C., came from Block.one on March 25:

#B1Junehttps://t.co/SWnpm3aFmI pic.twitter.com/zUCBbcKKOx— Block.one (@block_one_) March 25, 2019

And this is what Block.one CTO Daniel Larimer posted to Twitter on 20 February 2019:

What if you could decentralize social media more than steemit? The future of social media is thousands of blockchains under independent governance coordinating with inter-chain communication behind a seamless user experience.— Daniel Larimer (@bytemaster7) February 19, 2019

However, in general, most of the Larimer's more juicy comments (i.e. those that could be related to this announcement) have been on Telegram:

We also know that Block.one have been awarded a trademark for MEOS. Here is a partial description of the purpose of this trademark (this description is from Block.one's trademark application):

"providing temporary use of non-downloadable web and mobile application software for virtual community, social networking, photo sharing, electronic media sharing, and encrypted or otherwise secured messaging and media transmission; computer services, namely, creating on-line virtual communities for users to organize groups and events, participate in discussions, and engage in social, business, and community networking; hosting an interactive web site that allows users to create profiles and participate in a social network in the field of blockchain and distributed ledger technologies..."

Another bit of clue arrived yesterday (May 27) when EOS Block Producer "EOS New York" revealed via the following tweet that Block.one had just purchased 3.3 million EOS of RAM:

BREAKING: @block_one_ just purchased 3.3MM EOS worth of RAM ($20MM) on #EOS. Are they deploying a product on June 1? #bullish $eos https://t.co/coCCR3TCgA pic.twitter.com/tcsPrRtf6u— EOS New York (@eosnewyork) May 27, 2019

The above hints/clues together with other rumors we have heard seem to suggest that Block.one might be planning to announce several things on June 1:

Perhaps not all of these predictions will come true, but in any case, if you are at all interested in EOS, you should mark 1 June 2019 on your calendar since given all of the hype built up around this event since March 25, this is bound to be an exciting event. 

Featured Image Courtesy of Block.one