In less than 1 hour, an EOS hard fork is scheduled to occur which is being supported by Binance and Huobi. EOS is on the top-ten coins list and is placed at the 7th position with the largest market cap. Every time a coin undergoes hard fork, the price of the coin always changes and we have seen it with Bitcoin.
Important reminder. EOSIO networks that activate the consensus protocol upgrades in EOSIO v1.8 require all other nodes in the network to be running a compatible version of EOSIO (e.g. v1.8.3). Otherwise, nodes may not receive new blocks. More details: https://t.co/6i7pPtP6Xm
— block.one (@block_one_) September 20, 2019
In such cases, holders of the parent coin receive new coins on a one-to-one basis, and whales take advantage of this and buy more parent coins. Buying the parent coin before the hard fork will take the price up in the charts. When they receive the new coins, they may dump them in the market, forcing the price to come down.
