Block.one introduces EOS-powered social media platform, EOS trades below $8

Eren Sengezer FXStreet

At the highly-anticipated event in Washington on Saturday, Block.one introduced 'Voice', a social media application on the EOS Public Blockchain.

"The truth is, current social media platforms are designed to use their users,” Brendan Blumer, CEO of Block.one, said in his opening remarks.

“Just look at the business model. Our content. Our data. Our attention. These are all incredibly valuable things. But right now, it’s the platform, not the user, that reaps the reward. By design, they run by auctioning our information to advertisers, pocketing the profit, and flooding our feeds with hidden agendas dictated by the highest bidder. Voice changes that.”

Despite this exciting news, however, the EOS fell below the $8 mark as investors took the opportunity to book some of their profits following the impressive rally that was fueled by the rumours about the EOS powering Block.one's social media platform. After finding support near $7.5, the EOS recovered some of yesterday's losses and was last seen trading at $7.9, adding 2.25% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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