As every minute goes by, investors are becoming more disappointed with EOS because of the delay in the Mainnet launch. Some investors have resorted to unloading their coin holdings and this is evident by the fall in the price of EOS over the last 24 hours. If things continue like this, the price might fall even lower. There have been no official updates about the launch from EOS yet.
The Canadian and New York branches are responsible for coordinating the launch of the EOS Mainnet but they are yet to update the community. If positive news comes soon, the price of EOS may be propelled to $15.
Why is the Market Losing Confidence?
Before the Mainnet initiation, everyone in the cryptoverse was alerted that EOS will be frozen for just two days. However, the two days have passed and the tokens are still frozen. The rumor is that the block producers are still not sure which version to release.
Although this might look like a non-issue, investors are not happy about the delays and are losing confidence in the coin. The price of EOS is already taking a hit and will most likely take more hits because of this. The price charts indicate that trading is still possible on exchanges that support the EOS Mainnet launch.
Not everyone is patient enough to allow EOS block producers delay with the launch. Some people are already questioning the security of EOSIO. Pessimists are blaming Block One for the delay claiming that the coding for the platform must have been subcontracted and are thus open to programing flaws.
Apart from the launch delay, EOS critics claim that the EOSIO is nothing but an over-funded project which will collapse many user cases.
When considering the week-week chart, EOS has had a 13% increase. It is the 5th most valuable cryptocurrency in the world. Unfortunately, without a working product, investors cannot be stopped from acting irrationally. EOS price may take a serious hit if the frozen coins and the blockchain isn’t released soon