EOS price has recently experienced a notable surge, entering a strong bullish phase. The cryptocurrency is showing signs of increased momentum, as it eyes further gains in the market. EOS’s rising price is attracting attention, signaling the potential for continued upward movement in the coming days. As EOS continues to strengthen, investors are keeping a close watch for further opportunities after major spring 1.0 upgrade.
EOS Network Completes Spring 1.0 Upgrade
EOS price has successfully completed its Spring 1.0 upgrade, a hard fork that brings significant improvements, including 1-second transaction finality. Announced on September 25, the upgrade introduces the Savanna consensus algorithm, enhancing the network’s speed, security, and reliability.
This development makes EOS one of the layer 1 blockchains that achieve this rapid finality. The transaction finality is now 100 times faster than the previous version, offering a transformative leap for the platform.
The EOS team emphasized that this advancement improves performance and strengthens the broader crypto ecosystem with a more secure and efficient network foundation.
EOS Price Prediction: Will EOS Surge 87% After the Spring 1.0 Upgrade?
The EOS price has seen a 2.64% increase over the past 24-hours. At the time of writing, the EOS price is trading at $0.5313, reflecting a steady upward trend from its earlier position at $0.5198.
The cryptocurrency experienced fluctuations throughout the day, reaching a peak just above $0.535 before stabilizing near its current value. The market sentiment appears positive as the price maintains its upward trajectory.
The MACD (Moving Average Convergence Divergence) indicator also signals a bullish trend. The MACD line (blue) has crossed above the signal line (orange). This is further confirmed by the positive green bars in the histogram, indicating increasing bullish momentum.
The EOS price is currently struggling to break past the $0.55 mark. Should it manage to breach the important $0.6 threshold, it could trigger a significant upward trend. Key price targets could reach as high as $0.8 and potentially $1. This shows a strong buying interest with a potential increase of 87%.
Frequently Asked Questions (FAQs)
The Spring 1.0 upgrade for EOS is a major update that introduces the Savanna consensus algorithm, significantly enhancing the network’s speed, security, and reliability by achieving 1-second transaction finality.
The upgrade boosts transaction finality to just 1 second, making it 100 times faster than previous versions, which significantly speeds up the performance of the EOS network.
Following the Spring 1.0 upgrade, EOS has seen a price increase, reflecting a surge in investor confidence and a positive market response to the enhanced network capabilities.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/eos-price-eyes-1-after-major-spring-1-0-upgrade-boosts-transaction-speed/
✓ Share: