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  • “Raises $4B, offers to pay only $10k for catastrophic bugs 2 days before mainnet launch. Strange,” Litecoin founder, Charlie Lee reckoned.
  • EOS price has several support zones at $12.00, $11.00 and $10.00.

EOS is still locked within the descending channel we explored in the morning. Besides, the crypto seems to have lost momentum above $12.00. The gap between the moving averages is widening to show that selling pressure never left. EOS is launching its blockchain in less than three days, but it had to deal with vulnerabilities unearthed by a research firm yesterday.

Litecoin founder, Charlie Lee has been alarmed by the announcement that EOS will be giving away only $10,000 to expert bug finders ahead of the mainnet. The tweet by Daniel Larimer, EOS co-founder called for bug finders to assist the team in unearthing vulnerabilities in the blockchain. His tweet read:

“Help us find critical bugs in #EOSIO before our 1.0 release. $10K for every unique bug that can cause a crash, privilege escalation, or non-deterministic behavior in smart contracts. Offer subject to change, ID required, validity decided at the sole discretion of Block One.”

However, Charlie Lee finds this strange especially after EOS announced that it had raised $4 billion in the crowdsale.   Charlie Lee said:

“Raises $4B, offers to pay only $10k for catastrophic bugs 2 days before mainnet launch. Strange. And quite a few other concerning issues with EOS. This will also be one of the biggest ERC20 token to blockchain launch. Should be an exciting day!”

Although the Stochastic is still in the overbought regions, EOS price is on the verge of another downside breakout if the support at $12.00 gives in. On the upside, the Fib retracements coincide with the descending trendline, placing the target at $13.00 and $16.00 respectively. However, other support levels present include  $11.00 and $10.00. If EOS/USD breaks below $10.00 the next demand area falls at $9.00.

EOS/USD 3-hour chart