🔵 Dan Larimer Leaves block.one!! I Sold 100% of my EOS!!
Dan Larimer crashes EOS by 30% with a message of leaving the project
Block.one CTO Dan Larimer leaves the project
Cryptocurrency Community Sells EOS
EOS fell almost 30% in less than a day
A wave of sell-offs swept across the cryptocurrency markets. Most digital coins, led by bitcoin, are correcting after exploding earlier in the year. However, EOS has reasons to fall more serious than technical factors. Block.one CTO Dan Larimer leaves the company.
Throughout 2020, EOS has been sluggish and lagging far behind its main competitors, Ethereum, Cardano, and Polkadot in terms of recovery. A fall of 25% in less than a day only exacerbates the unfavorable background for coin holders.
Larimer leaves block.one
On Friday, January 8, Larimer wrote that it was time to quit Twitter, and on Sunday, January 10, an official announcement of leaving the company appeared on the developer’s blog. He left the post of CTO at Block.one on December 31, 2020.
Larimer noted that he has worked at Block.one for the last four years and is proud that he and his team have managed to create and launch EOSIO. He commented on his future plans as follows:
“I will continue to create solutions for safe life, freedom, property and justice for all. I do not know yet what I will do next, but I am leaning towards creating technologies that are censorship resistant. I have made sure that freedom cannot be delivered ‘as a service’, and therefore I will focus on developing tools that will help people guarantee their freedom. “.
Meanwhile, the EOS project has long been criticized for its high degree of centralization. As expected, the community reacted violently to Larimer’s decision, but few approved of it. For example, CoinRatgeber’s editor, known on Twitter as CR1337, believes Larimer was afraid of possible SEC sanctions..
‘I am afraid of the SEC, but thanks for the money, see you soon to sell you new crap k thx bye’ pic.twitter.com/kB4d4YLKlm
– CR1337 (@ cryptonator1337) January 11, 2021
In June last year, there was already an outflow of developers from the project.
Messari’s Eric Turner noted that in the EOS thread on Reddit, users leave sarcastic comments, and investors and supporters of the project have received another blow.
The EOS Reddit is not a happy place right now pic.twitter.com/dcu3p5Sbdj
– Eric Turner (@ericturnr) January 11, 2021
Twitter-service Whale Alert, reporting large transactions, records a large-scale movement of EOS tokens amid the sale.
1,183,047 #EOS (3,444,078 USD) transferred from unknown wallet to #BigOne
– Whale Alert (@whale_alert) January 11, 2021
EOS price crashed
EOS has dropped from an intraday high of $ 3.90 to $ 2.68 since Larimer’s resignation became known. EOS is trading at $ 2.8 at the time of writing.
EOS Chart Source TradingView
Such a deep drawdown made EOS a drop leader among the top 100 largest cryptocurrencies by market capitalization. Last year, the coin climbed to $ 5.35 – this high was reached in mid-February. Since then, EOS has dropped in price by almost 50%.
EOS hit an all-time high in May 2018 at $ 20, but has not been able to get close to that mark since..
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