Sell The News: EOS Falls By 7% After’s June 1st Announcement5.4’s June 1st (B1June) live stream has just been unveiled, and EOS is dumping. In a classic case of “buy the rumor, sell the news”, the crypto asset has fallen by 6.5% since the event occurred. This shouldn’t exactly be surprising, as the cryptocurrency rallied by 40% in the past week in anticipation of a massive announcement set to revolutionize the blockchain world.

Earlier today, we reported that, the company behind EOS’ development and subsequent public sale, intended to launch a blockchain-based social media platform. In the keynote that was published just an hour ago, this was revealed to be true. Brendan Blumer, the chief executive of, opined:

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