Cryptocurrency & Blockchain Business

Do you own EOS Tokens? Read this or your tokens could be rendered useless

Hurry up and register your tokens – this message will be heard more and more often in the coming six days. After May 31, EOS held on Ethereum-compatible wallets will be locked and rendered useless – it will not even be transferable. Unless users register their balances through the official EOS site, or send them to an exchange, they will be at the mercy of EOS core developers.

In theory, there is a way to take a snapshot of the Ethereum blockchain and assign EOS addresses. However, this opportunity may be slow to arrive for technical reasons.

Keeping EOS on Exodus wallets, or MyEtherWallet, is the worst decision at the moment. Exchanges will fund the EOS balances, except for those markets that warned they will stop trading. After registering the Ethereum public address, users are urged to make sure their balances are registered – bugs on registration tools have been revealed. Check the https://eosauthority.com/account link for a valid name and registration, to avoid losses from faulty registration.

Ahead of the mainnet launch, EOS had another run upward in terms of market prices. The asset, however, is still seeing the downward pull of the bear market, and slid to $11.99, making the net 24-hour gain just 8%. EOS did not manage to fulfill the expectations of a run to $30 this time, and there are predictions the price would slide as low as $5, especially in the case of a scandal if unaware users discover their tokens are inaccessible.

Strangely, despite the market-wide pessimism, EOS is still seeing some bullish predictions for the short term.

One of the reasons for the EOS climbing potential is the influence of Asian markets. Also, EOS is traded in Ethereum pairs, and the Block One wallets are rich enough to prop up the price. Some believe that EOS has been artificially propped up for months in ETH trading. EOS is also paired with Tether (USDT), receiving additional liquidity for speculation.

With seven more daily auctions left, there may be one last buying spree for EOS. In the past 365 days, the daily bidding for EOS saw auctions gather more than 50,000 ETH on a good day. Now, the levels are back below 40,000 ETH, still a significant amount. For some ICOs, the daily EOS purchases are their entire haul – in effect making EOS the heftiest project around, possibly sitting on several billions’ worth of EOS.

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