Block.one, the company in charge of the EOS blockchain and token has introduced a change to the resource allocation system of its network. The change involves the renting of network resources by users.
Block.one introduced the new initiative because it believes in its potential to eliminate the impact of speculative markets over resource pricing. The introduction of a rental market with pricing on the basis of aggregate resource utilization will enhance the predictability of resource allocation and reliability for the community, says the firm.
As regards the performance of EOS against the USD, the price has been between $2.8695 and $2.4001 within the previous few weeks. Despite the sellers pulling the price under the range, it was not possible for them to maintain the lower levels. It signals demand at lower levels and it is good for the pair.
It is on the way to the upside now and could attain $2.8695. However, if it surges over the level, it is possible to return to the downside. The pair has repeated correction to the downside from the downtrend line within the previous few months. Therefore, it is possible for sellers to take an aggressive stand.
If the price breaks out of the downtrend line, it will show that the buyers are now active. It could move to $4.8719 above the downtrend line. Nevertheless, another turn down from the downtrend line could make the sellers to try to pull the price under $2.5804.