During the day, the EOS cryptocurrency rose in price by 19.1%, the asset is trading at $1.53, according to CoinGecko. Price jumpoccurred after the adjudication of a lawsuit against Block.one.
Data: CoinGecko.
Over the past seven days, the quotes of the coin have grown by more than 29%. Bitcoin added 1.1% during this period, and the price of Ethereum on the eve of the most important update The Merge rose by 8%.
In May 2020, investors filed a class action lawsuit against Block.one, the company that originally launched the EOS network. They claimed that the project's $4.2 billion ICO was a sale of securities.
What is EOS?
In June 2021, Block.one agreed to settle the dispute with a $27.5 million payment.
August 15 Judge of the Southern District of New York LewisKaplan refused to approve the settlement agreement. According to The Block, it ruled that the lead plaintiff of the Crypto Assets Opportunity Fund did not adequately represent the interests of all investors.
In December 2021, the EOS community decided to end Block.one's regular payouts, stating that it was no longer acting in the interests of the network.
In February 2022, the non-profit organization EOS Network Foundation announced its intention to recover $4.1 billion from the company.
Recall that earlier Integra analysts found signs of manipulation during the EOS ICO.
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