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Price Analysis

EOS Price Analysis: EOS Price Suffers Downfall Due To Centralization Problem

  • Weiss Ratings slams EOS by accusing them of serious centralization problems.
  • EOS price drops on the chart.

Altcoins are mostly the descendants of Bitcoin as they have similar crypto economics or algorithm. There are also some coins which are unique and differ from BTC; one of them is EOS. Block.One established EOS is run through delegated proof of stake system rather than usual mining.

The news has affected the altcoin severely. EOS was giving promising results from the beginning of the year, until the price drop. The current price chart of EOS is making us rethink on the investment options.

Current Statistics of EOS Coin:

EOS Price Chart - 10 June

The chart is taken from Trading View, on 10th June 2019, at 05:13 for price analysis.

Summary of the statistics:

  • EOS is at the 6th rank on the chart.
  • As on 10th June 2019, at 05:13 UTC the EOS price is $6.15.
  • The ROI stands at 498.17%.
  • The market capitalization is 5,666,264,232 USD,
  • The 24-hour volume if EOS is 2,242,734,588 USD.
  • The circulating supply is USD 2,242,734,588.

At the beginning of the year 2019, the currency was dealing at $2.73. The coin climbed a ladder and reached at $4.36 on 23rd February. EOS continued its steady progress on the chart, and on 10th April the price of EOS was $5.88. On 31st May 2019, the coin was at its highest by touching $8.60. However, the price drop affected EOS at large. EOS is currently at $6.15.

EOS Coin Price Comparison:

If we compare the price from the beginning of the year, which was $2.73 till now, which is $6.15, it reflects that the price has tripled itself. On 10th May 2019, the price of EOS was marked around $4.9, which shows a clear progression of 23.9%, if we weigh against the current price.

EOS Coin Price Prediction:

EOS charts are giving some positive indications that the price may rise in the coming months. The investors, whether long term or short term, are recommended to stay put for some time until the bullish trend starts.

Conclusion:

The price of EOS has never failed the investors’ expectations. We consider the coin as on the best result giving investment amongst the top rankers, but the current scenario is indicating toward patience for better results.

Weiss Ratings’ recent news will not result well on the coin, but the same rating portal announced EOS as the best option in the crypto market during the starting of the year. Marketers are in deep thoughts about the legibility of the news.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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