EOS (EOS) Price Analysis: EOS’s Market has Risen From its Debris, Becoming the Largest Gainer Amidst the Top-10 Cryptocurrencies
About the Coin
EOS is a blockchain platform that uses delegated Proof-of-stake (DPOS) consensus algorithm. It introduces the decentralized applications to the blockchain infrastructure that is designed to enable vertical and horizontal scaling. EOS provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and clusters that in turn lets the blockchain platform to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications. In short, it enables development, hosting and execution of decentralized applications. EOS coins were released on Ethereum platform.
EOS is being traded at 5.13 USD on April 03 at 11:49 USD. Based on the Mcap value that is trading at USD 4,653,290,615, the cryptocurrency is ranked as the 5th largest currency in the crypto market. There is a circulating supply of 906,245,118 EOS coins out of a total supply of 1,006,245,120 coins. The 24-hour price movement indicates that $4,968,558,740 amount of EOS was being traded. The approximate return on Investment (ROI), as per coin market cap, is estimated to be 401.51%.
Overview of trading value and pricing movements
Based on the analysis from the Coinmarketcap, the market opened as low as USD 2300 million USD in January 2019. The market underwent a downtrend period between January 10 and February 08, with the market cap value reaching its lowest of USD 2,132,898,367 on February 08 at 11:34 UTC with its corresponding trading price of 2.35 USD. After that, the market trend has been on the increase. It reached its peak prices crossing USD 3900 million USD on February 24 and March 28, with average linear values fluctuating between 3200 million and 3400 million USD for one month time period. The current trading value is the all-time high with an average growth of 20% in the overall market of the cryptocurrency which is under the influence of the bullish pressure.
Future of EOS
EOS is a potential cryptocurrency with a market in support of the long term investment plans. Wallet Investor predicts that the volatility of the token will influence the market and there will be a surge in pricing with the value going low to 0.720 USD by the end of 2019. However, long term investment will reap benefits with the price reaching 911 USD by 2023. A technical analyst from steemit writers predicts that EOS per coin would be selling as high as 20 USD at the end of 2019 and also, expects overall growth of about 60% more than Ethereum’s market capitalization.
Eos which was earlier pressured down by the bear has risen from the ashes and have grown to maintain stability in rising values. Although the volatility affects the consistency, the current market is in support of the buyers. As per predictions, the future of the cryptocurrency is beneficial for the investors with long term investment plans.