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Currently EOS is up 11.18% in the last 24 hours, which puts it well above all other major coins. While there could be a variety of factors, Invest In Blockchain is reporting that founder Dan Larimer has been hinting at some big news coming June 1st. Combine that with the fact that the company is trying to buy back 10% of its own stock, and it sounds like something big may be coming.
Dan Larimer has actually been talking about big news coming in June for months now, but it still is not clear what he is referring to.
What is more clear is that this June 1st announcement date is getting very close. It seems fitting then that the price of EOS has skyrocketed in the last day or so, now up to $7.70.
EOS/USD Chart provided by Tradingview
To aid the speculation and excitement, it is also being reported that Block.one, which is developing Eosio software, has recently sought to re-purchase 10% of its own stock. Seeing as the stock itself has risen 6,567% in value, it is likely that the company feels there is more upside to come.
Nic Carter, a partner at Castle Island Ventures, is quoted in the article:
"A private buyback of this sort signals to me that the company believes that there are few growth opportunities in sight, or badly wants to consolidate ownership and avoid outside scrutiny."
While nothing is certain at this point, it is looking like Block.one has a lot of faith in the future of EOS. What will the big news be? Stick with Chepicap for all updates!
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