Price Analysis

EOS (EOS): Short & Medium Trends Are Bearish, Bullish in Long Run, Might Hit $10 Mark by The EOY

EOS (EOS) is a blockchain protocol that inculcates a number of the features of a real-world computer which include hardware devices like CPUs & GPUs. In addition to that, EOS has RAM, hard-disk storage, and other computing resources, which are segregated proportionately among various crypto holders. Just like Ethereum, EOS.IO is also based on a smart contract mechanism and has a decentralized operating system. The main aim of the smart contract and decentralized OS is to help users in deploying industrial-scale dapps through an autonomous business model. On top of that, the technology claims to eliminate transaction fees by a huge margin, with a massive increase in transactions speed. Designed to enable horizontal as well as vertical scaling of dapps, EOS (EOS) software provides features like accounts, authentication, databases, asynchronous communication and the scheduling of apps across a number of CPU cores or clusters.

Current Statistics:

EOS

As on May 08, at UTC 07:44, EOS (EOS) was ranked at 6th place in the cryptocurrency market, with an ROI of 372.67%. At the same time, according to coinmarketcap.com, the market capitalization of the altcoin was 4,439,660,341 USD and having a cumulative of 910,726,410 EOS chips in circulation. In the case of cryptocurrencies, to calculate the trading action, one way is to measure the current price from its 25-day’s back price. So, by that, on April 13, the altcoin was trading at 5.34 USD, but if you look at its current value, EOS is at priced 4.87 USD, with a slight dip of 8.8%.

Let’s analyze the historical ups and downs in the cryptocurrency. EOS (EOS) touched the all-time high of 22.89 USD on Apr 29, 2018. In stark contrast, it touched a minimum of 0.480196 USD on Oct 23, 2017. Now coming back to yesterday’s trade, the crypto opened at 4.90 USD and with an intraday loss of 0.029273 USD (-0.60%) and closed the day at 4.87 USD. Additionally, the trading volume in crypto for the other day was 2,112,494,046 USD.

EOS (EOS) Price Prediction:

Following the market trend, there seems to be a bearish trend in EOS as well. However, there is a piece of good news for the crypto as well. According to dapp.net, the total number of active dapps on the EOS network, which was 355 in January rose up to 502 at present. Along with that, EOS dominates the market when it comes to transaction number and transaction volumes, leaving its nearest contenders, Tron and Ethereum, far behind. As of now, there is no official confirmation, but there is speculation that the EOS team might come up with some groundbreaking updates as the developers have maintained silence for quite a long time now. According to experts, EOS has the potential to replace Ethereum and place itself as the default chain for the development of dapps. Although the short and medium-term trend is bearish, as per our speculation, EOS (EOS) might hit the mark of 10 USD by the end of the year.

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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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