LONDON (Bywire News) – With EOS building more momentum and sentiment beginning to swing, there is more and more discussion about whether EOS can offer a positive bet for the future.
What is EOS?
The $EOS token is the native token of EOSIO which is an open-source blockchain allowing the building of dApps without any hassle. The token was developed by Block.one.
EOS was billed as a rival for Ethereum and boasts significant advantages in terms of speed, scalability, flexibility and sustainability. It also offers solutions to long-standing problems in the cryptosphere, such as scarce network resources, spamming apps, fraudulent transactions, and many others.
|
Cryptocurrency |
EOS |
|
Ticker Symbol |
EOS |
|
Price |
$1.3 |
|
Price Change 24h |
+2.62% |
|
Price Change 7d |
-1.44% |
|
Market cap |
$1,373,927,658 |
|
Circulating Supply |
997,063,790 EOS |
|
Trading Volume |
$220,693,921.08 |
|
All time high |
$22.89 |
|
All time low |
$0.4802 |
|
EOS ROI |
+14.14% |
How it works
EOS runs its own proof of stake (PoS) protocol, the EOS.IO network, which was developed with the intention of outperforming conventional processing and hardware storage. The network also has its own smart contract platform enabling developers to build dApps on the platform.
The EOSIO 2.2.0-rc1 includes three new features: read-only queries, private chain access and resource payer. During the launch, EOS used ERC-20 tokens to distribute the tokens raised in the ICO which made the process much smoother as ERC-20 tokens were used frequently during ICOs. Later the ERC-20 tokens were exchanged with the native EOSIO tokens which allowed the operations to occur on their own network with EOS token holders locking their coins for more than three days.
The DPoS mechanism allows a lower entry threshold which results in more decentralisation, scalability for the network and less power used.
Partnerships & Projects
In 2020 Google announced it would become a block producer on the network. It was a landmark moment and a vote of confidence from one of the biggest names in the tech space.
In terms of projects, EOS has plenty to keep investors excited. Here are just a few:
- Eosfinex, a non-custodial trading platform, allows users to trade using the security of an EOS non-custodial wallet.
- EOSDT is a decentralized stablecoin like the well-known USDT. It is available on several popular exchanges, such as HitBTC and Bancor.
- Defibox integrates the blockchain with DeFi protocols allowing it to swap and lend by using its native stablecoin BOX.
- Upland is a virtual world trading game that runs on the EOS protocol. It currently has more than thirty-five thousand users with more than $500K worth of transaction volume.
- American CryptoFed DAO is the world’s first payment structure that will be using a digital asset whose value is non-inflationary.
EOS Price Prediction
EOS’s price history has had an optimistic road. However, it is important to note that any price prediction doesn’t automatically guarantee future prices, but it’s more of an indication of where price could go to.
In 2018, EOS officially went live after a year-long ICO. The ICO raised over $4 billion despite the ban from US investors.
At the time of launch, EOS was $1.20 which then went to a high of $5.48 before crashing to $0.50 in October. With outstanding support from its supporters, EOS began the journey to $12.50 in December 2017 with a 2,160% increase.
In 2021, EOS had tremendous growth making a new all-time high of $14.88. However, after peaking, the coin experienced a continuous decline and in September 2021 the price retested the $3.20 support amid the covid market crash.
EOS is trading near $1.30 with a market cap of $1,373,927,658. It is ranked 45 in terms of market cap. The upper Bollinger band limit is $3.1. If EOS can spike beyond, we could see a $6 resistance being tested. The Bollinger band’s lower limit is at $0.81 and, if this level breaks, we could potentially see $0.44 per $EOS token. The MACd and RSI are indicating a bullish momentum for EOS suggesting a potential price hike.
Our EOS prediction concludes that $EOS could be trading at $2.50 by the end of 2022 and in 2025 depending on market conditions, we could see $5.09. EOS has a range of developments and events in the pipeline which could help it skyrocket to $41 by 2030.
Wallet Investors predict that EOS can be a bad high-risk one-year investment, but with the price equal to $1.371 your current investment may be devalued. However, a bull run could see the price pushing to $16 by the end of 2025.
Trading Beast’s EOS prediction concludes that, based on a logical algorithm, EOS analysis could suggest short-term rallies as well as long-term benefits. They added that the price could reach $3.938 by the end of 2022.
Is EOS A Good Investment?
Many EOS predictions support the long-term potential of EOS, and it can be an excellent choice considering fundamentals and past performance. $0.90 could be a great entry point with the potential of a more than satisfactory ROI.
EOS is an example of emerging blockchain tech that still has a long road to go before reaching its full potential and transforming a range of industries. During that process, there may be many peaks and troughs. However, over time, the coin’s future price could be considerably above the previous all-time high.
(Writing by Samba Jallow, editing by Klaudia Fior and Tom Cropper)
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