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21 September 2021
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EOS Market Update: Cryptocurrency scam PlusToken moved $67 million in EOS to anonymous address

  • Ponzi scheme PlusToken moved 26 million tokens.
  • EOS/USD has recovered above pivotal level of $2.50.

Last week, analysts found a connection between PlusToken and a series of Ethereum transactions with unusually high commissions. The Cahinanalysis experts believe that the  scheme may have made an unsuccessful attempt at money laundering. Later it turned out that the transactions were related to another pyramide – Good Cycle, which had been hacked.

Large transactins usually shape price momentum in the cryptocurreny, however, it is still unclear what happened with the coind. If the sceme organizers wanted to cash out this ammount, EOS would take a nose dive.

EOS/USD: Technical picture

However, EOS/USD is changing hands at $2.52 The nineth largest digital asset with the current market value of $2.3 billion has gained over 2.5%  in the recent 24 hours. Meanwhile, the further recovery my be limited by $2.57 (intraday high reinforced by the upper line on 1-hour Bollinger Band. If it is cleared, the sell-off may be extended towards $2.62 (daily SMA50 and the middle line of the daily Bollinger Band).  On the downside, the support is located at $2.50. Once it is cleared, the sell-off may be extended towards the lower boundary of the daily Bollinger Band at $2.41.

EOS/USD daily chart

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