Block.One purchases $25 million worth of RAM, big EOS announcement expected

29 May, 2019 | Updated: 30 May, 2019
by Ryan Boltman
News
Block.One purchases $25 million worth of RAM, big EOS announcement expected

EOS appears to be heating up following the news that there will be a major announcement scheduled for June 1.

EOS blockchain development company, Block.One have recently unstaked 9.8 million EOS tokens, and purchased 3.3 million EOS worth of RAM, totalling $25 million, just days before what is set to be one of their biggest announcements this year. 

Block.One will be releasing something major at the upcoming B1 event set for June 1, with the community excited to see what the project has in store. The recent hype surrounding the announcement has seen the EOS price increase dramatically, with a combined 70% gain in price in May 2019 

EOS/USDT Chart provided by Tradingview

Following the news from Block.One about the upcoming announcement, the community has begun to speculate what the announcement could be. Looking at previous tweets from founder Dan Larimer, who tweeted back in February about the possibility of a decentralized social media platform saying "What if you could decentralize social media more than steemit? The future of social media is thousands of blockchains under independent governance coordinating with inter-chain communication behind a seamless user experience."

According to CryptoBriefing, several sources have mentioned the possibility of a decentralized social media platform, while also mentioning a potential wallet release. 

The recent $25 million purchase of RAM by Block.One also signifies that something big is about to happen, as twitter user @Finchify stated "once RAM is purchased, it cannot be used to create new accounts. The RAM for a new account is purchased at the time of account creation." 

Could Block.One also be looking at performing some sort of token burn at the announcement as well? 

All eyes will be on the DC event on June 1st as Block.One could be about to announce something massive, also what will they do with the 6.5 million EOS tokens that have been unstaked? 

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Read more about: EOS (EOS)

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