EOS grows up amidst news on FinLab AG investing $100 mln

The digital currency called EOS has grown +17% in the last 24 hours due to the huge investment of $100 million made by FinLab AG together with Block.one. Its growth might continue, as some economic observers think.

FinLab AG has stated that one of the main reasons behind this investment was the version of blockchain-based protocol EOS is developing. This technology approach called Delegated Proof of Stake has attracted the high-ranking managers of the investment company, tells Stefan Schütze, one of the leaders of the organization.

Block.one is the company behind the EOS development. In fact, it has agreed to form a joint fund with FinLab AG.

The price of EOS might fall in the long term once the hype around this news dies out, but companies stated that the aforementioned sum was not the final investment. More venture capital firms are still yet to attract and the total sum this fund is planned to have is $1 billion.

The tokens of EOS have been criticized before. Cryptocurrency observers think that they serve no real purpose which is critikal for any token to survive on the market.