As Bitcoin continues to surge forward on its recently acquired form, other cryptocurrencies are now finally starting to see significant gains of their own. EOS’s price broke out massively in the last couple days in what could be an anticipated bull run.

EOS enthusiasts show heir clear delight at the upcoming announcement and its reflected in the token’s price | Source: Yahoo Finance

In just five days, EOS has grown by over 30% in value and has risen from just below $6 to $8.

Knowing the cryptocurrency market, cryptocurrencies don’t just increase in value overnight. There have to be influencing factors that dictate the shifting mindset of the market.

In EOS’s case, there are positive factors that perfectly aligned themselves, resulting in a positive change in investor perception.

Why is there such anticipation about this announcement?

#B1Junehttps://t.co/SWnpm3aFmI pic.twitter.com/zUCBbcKKOx

— block.one (@block_one_) March 25, 2019

Block.one are the developers behind EOS. They recently announced a release of  something major on June 1, the anticipated announcement has caused numerous speculations on what Block.one is planning for the future.

Analysts and community members have predicted that the announcement concerns a social media platform built by Block.one, powered by the EOS protocol.

Furthermore, the social media platform rumors have been fueled by a patent recently obtained by Block.one, which describes a social media platform together with a host of other activities. A section of the trademark reads:

“Providing temporary use of non-downloadable web and mobile application software for virtual community, social networking, photo sharing, electronic media sharing, and encrypted or otherwise secured messaging and media transmission; computer services, namely, creating online virtual communities for users to organize groups and events, participate in discussions, and engage in social, business, and community networking”.

If Block.one’s announcement is on the release of their social media platform, then EOS is likely to continue rising in value.

China still loves EOS

So much so, it’s ahead of Bitcoin.

EOS has been leading in the Chinese market for almost a year now. The Chinese Center for Information and Industry Development recently released its list of the top-ranking cryptocurrencies in the Chinese market, with EOS at pole position.

The ranking asserted EOS’s dominance of the Chinese market. With the Chinese government taking note of the performance of EOS, investors are likely to remain comfortable and confident when putting their money in EOS. This reduces the risk of trading EOS.

Let’s hope this surge can be maintained

The positive response of the market to rumors and a planned major announcement is a clear indicator that the market is ready for what EOS has in store for them.

EOS offers practical solutions and snappy speeds, which is what the market requires to compete against centralized platforms. Many upcoming d’Apps are likely to base their platforms on EOS because it meets the demands of the target market.

With the positive response by the blockchain community, a lot lies in store for EOS beyond the horizon. What they have set to achieve can easily be achieved, if the rise in the value of EOS is considered the barometer.

EOS must nonetheless deliver products and services that will keep the market yearning for more. The release on June 1 will determine whether the projects continues to rise to greater heights or stumble and maintain its former position.