Allegedly, EOS decided to burn half of its supply.
The development was announced by EOS Foundation CEO Yves La Rose, who shared a post on his official X account. In the post, there is a phrase like “EOS:2” and a Sesame Street character in flames is observed in the image. However, details for the burning in question have not yet been shared.
EOS, one of the older generation altcoins, has long been criticized for its poor performance. The altcoin hit an all-time high of $22.89 in 2018. At the time of writing this article, it is trading at $1.32, with a huge 27% increase after the development.
Update:
According to the latest information, it turned out that the founder of EOS did not mean to burn half of the EOS supply. As a main development, it was reported that EOS inflation will end, 818 million new EOS tokens will be minted, the EOS supply will be limited to 2 billion tokens, and there will be aggressive token market launches in the first stage, which will later be reduced with a logarithmic curve.