- Price $5.42
- Market Cap
EOS is a blockchain platform that has been created for the development of decentralised applications, which also go by the name of dapps. In many ways, this new cryptocurrency is very similar to the more well-known Ethereum when it comes to function.
It has the aim of making dapp development easy, as it provides an operating system like set of functions that the dapps can use to their advantage. The idea was to bring together many of the best features of smart contracts out there such as the good security that Bitcoin provides, and the computing support that comes from Ethereum. At the end of the day, it is a dapplication platform that can be accessed by the everyday user to empower the future of blockchain technology.
The project is being developed by a company called Block One, and is led by a Dan Larimer and Brendan Bloomer. The platform also has a vibrant community behind it, with a lot of backing from both investors and contributors. Overall, there is a lot of hype and excitement around it. It actually has one of the longest ICOs in history, one that is still running. Every day there is a fixed number of tokens that are available to be distributed.
EOS tokens are a popular option at the moment in the world of cryptocurrencies. They are tokens that are ERC-20 compatible, and are distributed on the Ethereum blockchain.
Benefits of EOS
There are many befits that come with EOS, but one of the main ones is the fact that it is scalable, and developers are able to create many different applications while also running decentralised applications at the same time. This feature alone is enough to make investors look and take note, and many will be watching its price over the coming months.
Another huge benefit is the fact that it can process millions of transactions a second, something that some of the more well-known cryptocurrencies are currently unable to achieve.
The EOS supply is capped at one billion, and it is going to be the first blockchain with its own constitution, which is a revolutionary feature in the market.
At the beginning
At the beginning, in July 2017, the price of EOS was just over the $1 mark, at $1.01, which is pretty good going for such a new player in the market. 4 weeks later it hadn’t really moved too much, only rising in price by 77 cents. By September, it was only worth 85 cents. A loss this soon after its introduction into the market is never a good thing, so it is likely that early investors were starting to look a little worried. It still kept on falling, and in October it reached an all-time low of 0.49 cents, and was not able to get back on its feet and hit the dollar mark until November.
By the end of the month, things started to look up again, as the value of the coin had doubled in value, and reached a price of $2.05. In December, EOS reached an all time high, with a price of $12.38, and incredible 1,125% increase on its original value less than 6 months previous.
In 2018, a new year, the price of EOS just kept on growing, and by the 12th of January it has reached $13.75, and then just one day later it hit $16.23.
Like most cryptocurrencies however, its price was very volatile, as when March came around its price was right down, sitting anywhere between $4 and $7 throughout the month.
Reasons behind the EOS price spike
On the 11th April, its price opened at just $6, but after an impressive 2 weeks, its price spiked at $15.54 on the 25th of April. There are many factors which could have contributed to such a gain in such a short space of time. Firstly, the trading volume in this period was well over 19 billion in just 15 days, a 320% increase from the previous 15 days. This means that there must have been some big money moving into the platform, with the possibility of some big investors.
There is also rumours that the price surge was due to an anticipated eodDAC airdrop, which occurred on the 15th April 2018. Lastly, one of the most notable reasons is the fact that the EOS mainnet launch is not too far away, and this could be driving up the price of the coin as the investors get more excited.
The future of EOS
Despite its varying price, the future of EOS is looking pretty bright, with its value expected to be over $100 within 5 years. It is an exciting project in the dapp area, with a knowledgeable team, an achievable goal and some game changing features, it is definitely one to watch.