EOS Surges 30%, Becomes Fifth-Largest Cryptocurrency Ahead Of Incoming Token Airdrop

Francisco Memoria
  • EOS recently surged over 30 percent. The rally helped it become the fifth-largest cryptocurrency by market cap.
  • Behind the surge we identify an incomding token airdrop, and Bitmain's Antpool applying to become a Block Producer.

EOS, a blockchain-based platform used for the development of decentralized applications (DApps) is currently engaged in a bull-run that helped its price surge over 30 percent, ahead of an incoming token airdrop. The surge helped EOS become the fifth-largest cryptocurrency by market cap.

At press time, according to data from CryptoCompare,  EOS is up by roughly 31 percent in the last 24-hour period, as it is currently trading at $8.37, up from little under $6. This means the cryptocurrency now has a $6.5 billion market cap, larger than Litecoin’s $6.3 billion.

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EOS’ rally coincided with a surge in trading volume. Available data shows EOS was the second most traded cryptocurrency, with its 24-hour volume exceeding $2.4 billion. Its volume is second only to that of bitcoin, which in the last 24-hour period had a trading volume of over $5.4 billion.

What triggered the surge is somewhat unclear. Its timing coincides with an incoming token airdrop, that’ll reward EOS holders with eosDAC tokens. On April 15 – the 300th day of the EOS initial coin offering (ICO) – every wallet with 100 EOS tokens will receive an equal amount of eosDAC tokens.

Those who don’t have 100 or more EOS tokens will be able to manually claim their airdropped eosDAC tokens later on, likely when the cryptocurrency’s mainnet launches later this year.

Others point out that Antpool, a cryptocurrency mining pool owned by mining hardware manufacturer Bitmain, is applying to be an EOS Block Producer (BP). To them, Antpool is artificially pumping the cryptocurrency’s price.

In its application to be an EOS Block Producer, Antpool wrote (roughly translated):

“EOS Community Ecology advocates “freedom, equality, and respect”. AntPool and EOS have similar values. We deeply understand the responsibilities and obligations in this regard, and care about the prosperity and sustainable development of the entire EOS community."

Antpool

Both potential causes seem unhealthy for the cryptocurrency’s long-term rise. While an artificial pump is bound to stop when Antpool decides it reached its goal, a pump caused by an incoming token airdrop might see the cryptocurrency plummet right after the blockchain snapshot.

As covered, this has happened in the past. Zclassic (ZCL) saw its price drop over 80 percent after the blockchain snapshot that created Bitcoin Private (BTCP).

Monero’s Website Was Hacked to Distribute Crypto-Stealing Malware

Michael LaVere
  • Monero's official website GetMonero.com was hacked and caused users to download malware.
  • Monero's team responded to the situation, warning users to confirm the hashes on their wallet binaries. 

The official website for Monero (XMR), GetMonero.com, has been hacked and caused users to download cryptocurrency stealing malware when attempting to obtain the privacy-centric cryptocurrency's wallet. 

According to a report by Ars Technica, GetMonero was discovered to have been hacked on Nov. 19 when a user noticed that the hash from the downloaded XMR wallet did not match the one listed on the site. User nikitasius published a post on GitHub detailing the different hashes, which was confirmed by other members of the community. 

Rather than being an error, the mismatched hash was determined to be the result of an attack on users of GetMonero. Users who downloaded the wallet from the website were put at risk of a cryptocurrency-stealing malware.

GetMonero promptly issued a warning, telling community members, 

It's strongly recommended to anyone who downloaded the CLI wallet from this website between Monday 18th 2:30 AM UTC and 4:30 PM UTC, to check the hashes of their binaries. If they don't match the official ones, delete the files and download them again. Do not run the compromised binaries for any reason.

One unfortunate Reddit user detailed losing $7,000 from his wallet after downloading the malicious client, 

I can confirm that the malicious binary is stealing coins. Roughly 9 hours after I ran the binary a single transaction drained my wallet of all $7000. I downloaded the build yesterday around 6pm Pacific time.

Featured Image Credit: Photo via Pixabay.com