Over the past week, EOS has been on an absolute tear, rallying by 40% in seven days’ time as most other crypto assets have stagnated. But why? Well, for months now, Block.one, the Cayman Islands-based company behind the protocol’s development and subsequent public sale, has been touting that something big is coming on June 1st.
No, what’s coming is not winter. Rather, Block.one’s has been purported to be a social media network based on the EOS blockchain. Despite the fact that these rumors went unsubstantiated for a period of time, Bloomberg recently confirmed that the blockchain company is looking to rival the social media incumbents with a decentralized solution.