Mainnet launch of the year – EOS blockchain to go live in 4 days

The news have been official for quite some time now: EOS [EOS] is coming out with its own Mainnet on June 2nd. Previously known as an ERC20 token based on Ethereum’s blockchain, its developers finally feel the time has come to make the switch to a native EOS blockchain. As usual, the switch cannot happen without widespread support and willingness of the users and infrastructure to support it. From the looks of things, there will be no problems with that.

The advantages of the move are clear to the entire EOS community. There has been a widespread push to move the EOS ERC20 tokens off of cold Ethereum wallets onto exchanges that will support the transition. The support of these exchanges will be crucial, as without it there would be no way to complete the swap. Luckily enough, most of the major exchanges are supportive of the move and will allow its EOS holders to exchange their tokens when the time comes.

Binance was among the first exchanges to come in support of the EOS mainnet launch, as their announcement came just after the turn of the year. The announcement came merely days after EOS dropped the news of the switch.

On April 18th Bitfinex, another major player in the exchange game, announced they will fully support the migration. This announcement was followed up with news that Bitfinex wants to take a more active part in the process, saying that they are willing to become one of 21 main block producers on the platform.

ZebPay, Kraken, Bibox, Bithumb, Gopax, CoinDCX are just some of other platforms that will support the upcoming EOS mainnet switch. The most recent one to officially join in was KuCoin, whose team announced that they will be supporting the mainnet launch and perform automatic asset transfers for its users (with guaranteed security deposits).

These positive news around the project have made EOS’ price fluctuate around $12 for quite some time now. It went all the way up to above $14, just to drop down to almost $10.50, probably doing its best Bitcoin impression like the rest of the alt market. The chart looks pretty healthy at the moment and shows a coin that is going through some steady sideways, accumulation like movements. While the mainnet news have already broken it is possible that, once it goes live, EOS will suffer a slight dip in price and then head upwards. Some experts are extremely bullish on the coin, expecting it to breach the $30 dollar mark by the end of June. While such a bullish movement might be a bit too farfetched, EOS should definitely profit from the mainnet launch and experience a strong end to the Q2 of 2018.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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