Categories: Ethereum

EOS (EOS) Price Analysis: Ethereum’s Competitor – EOS Has Been Evolving at an Optimal Pace

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EOS is a blockchain protocol that protocols imitate the attributes of a real computer including CPU & GPU for processing and RAM hard-disk storage. The computing resources are distributed equally to the shareholder. EOS works as a decentralized operating system with the smart contract platform that implements industrial scale DApps through DAC model. This smart contract eliminates transaction fees and has the ability to perform millions of transaction per second. EOS is multi-threaded and uses delegated PoS consensus protocol. It is also the first decentralized OS that gives a development environment for DApps like Steemit and Bitshares.

Current Statistics

EOS coins are being traded at 5.25 USD on April 05 at 14:54 UTC for its relative MCap trading at USD 4,753,493,483. Based on these stats, EOS is the 6th largest currency in the crypto market. This is also evaluated based on the circulating supply of 906,245,118 EOS coins out of a total supply of 1,006,245,120 EOS and its corresponding 24h volume of $3,090,367,088. Coinmarketcap assesses the approximate return on investment (ROI) for this cryptocurrency to be 407.73%.

Outline on Market Trend

The market cap value of the cryptocurrency crossed over USD 2 billion at the beginning of 2019 with the trading price as low as 2.57 USD. The values were stable until there was a sudden spike between February 18 and 24, with the MCAP values increasing from USD 2,556,583,888 selling at 2.82 USD to USD 3,931,418,185 with the price increase to 4.34 USD. There was an impressive hike percentage of 53.78% and 53.90% respectively. The currency reached its peak when the market cap value traded at USD 5,228,150,627 and the price per coin being purchased at 5.77 USD on April 04 at 03:34 UTC. The current rates have dipped from the peak values by 9.90%.

Future of EOS

The market forecast for EOS is very positive. Tradingbeasts provide a more realistic prediction which is in sync with the current market trend. It predicts EOS’s price will hit 7.00 USD by the end of 2019. Cryptoground predicts the price of EOS to rise by 73.51% in 2020 reaching 9.1789 USD and further an increase of 385.20% by 2024 with the price hiking to 25.6669 USD. Similarly, utoday predicts that the price of EOS will reach close to 10.5 USD before the end of 2019 and an exciting rise of about 500 USD by 2025.

Conclusions

Although the future of the cryptocurrency looks constructive, the current market trend has been under minor fluctuations. This scenario will work out best for traders with short term plans. However, investors will have to observe until the market is stable.

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