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Allegedly, EOS decided to burn half of its supply.
The development was announced by EOS Foundation CEO Yves La Rose, who shared a post on his official X account. In the post, there is a phrase like “EOS:2” and a Sesame Street character in flames is observed in the image. However, details for the burning in question have not yet been shared.
EOS, one of the older generation altcoins, has long been criticized for its poor performance. The altcoin hit an all-time high of $22.89 in 2018. At the time of writing this article, it is trading at $1.32, with a huge 27% increase after the development.