EOS Price Surges 20% as Brock Pierce Reveals “Crazy Bet”

Block.one Co-founder, Brock Pierce, is confident in EOS’s comeback this year. His latest comments came ahead of a massive rally, which drove the asset’s price up by 20%.

After weeks of market stagnation, EOS finally escaped from a prolonged consolidation. While the cryptocurrency is still a few points down from erasing its losses for the year, the climb to a crucial $3 level came amidst a market-wide rally.

• Much of the latest surge could be associated with Brock Pierce’s tweet in which the former US presidential candidate expressed his conviction regarding EOS and said that he is “fully engaged again.” Pierce added that “major changes and progress finally happening” with regards to Helios.
• He even went on to reveal trading all his shares in the company for EOS tokens.

“I, for one, traded all of my shares in B1 (the 240k BTC, Bullish, et al) for EOS tokens. I win with the community or lose with the community. Lots happening. Stay tuned. I made a crazy bet. All for eos and eos for all.”

• A couple of years ago, EOS was one of the most well-funded blockchain projects with its staggering $4.1 billion ICO raise. Today, it is often touted as a “ghost chain,” and not everyone is confident in its renaissance.
• One of the major reasons for the downfall was Block. one’s relationship with the EOS community turning sour.
• According to EOS Network Foundation (ENF), the community has been let down by Block. one’s lack of commitment to the EOS blockchain. All the subsequent launches, be it the social media platform – Voice or the decentralized exchange called Bullish – did not have meaningful use-cases for EOS.
• The ENF founder and “community-elected CEO,” Yves La Rose, outlined plans for the network and announced moving away from its estranged parent company. Three months after the public announcement of severing ties, La Rose revealed preparing for a legal war with the creators.
• Days later, Pierce set up a new fund – Helios – to support EOS expansion and transferred $210 million worth of tokens to it.
• Today’s rally drove EOS to a 12-week high above $3.1. As of now, the asset sits just under $3.

EOSUSD. Source: TradingView