What is EOS?
EOS is one of the best-known cryptocurrencies today that allows building decentralized apps (DApps) in a simple and scalable way. EOS cryptocurrency was developed by a company called Block.one. Founded by software programmer Daniel Larimer and entrepreneur Brendan Blumer, who still hold the roles of CTO and CEO, the company began to work on the project in 2017.
In June of 2018, the EOS officially went live after a year-long Initial Coin Offering (ICO). The ICO raised more than $4 billion, despite the prohibition to participate from U.S. investors. To this day, the ICO is one of the largest token sales, while the EOS blockchain continues to be one of the largest cryptocurrencies by market capitalization and trading volume.
|EOSEOS||EOS||$ 3.93||$ 3.79 B||7.82%|
EOS Network & Signals
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How does EOS work?
EOS uses its own proof of stake EOSIO blockchain that processes transactions in a fast, scalable, and secure way. The EOSIO 2.2.0-rc1 includes three new features: Read-only Queries, Private Chain Access, and Resource Payer.
Initially, EOS used ERC-20 tokens to distribute the coins raised in the ICO, which helped ease the ICO process as the ERC-20 token was frequently used to raise an ICO. Later, all of the ERC-20 tokens were converted to native EOISO blockchain tokens, allowing token holders to finally transact and operate on the network.
Block producers on the EOS network are chosen in a delegated-proof-of-stake mechanism (DPoS), which requires EOS token holders to lock in their coins for more than three days. The DPoS mechanism allows for a lower entry threshold, which results in more decentralization, less power used, and more scalability for the network.
Existing EOS partners
Recently, Google announced that it has partnered with Block.one, to become a block producer for the network. It is one of the largest partnerships in the cryptocurrency ecosystem to date and will likely further increase EOS’s popularity.
Another great partnership for EOS and its developer Block.one was recently made with investor LACChain, which is an Inter-American Development Bank initiative to promote blockchain use and crypto market development across Latin America and the Caribbean.
A similar partnership was made in Asia in 2018, as a $200 million joint venture fund – EOS Global was created together with local blockchain technology entrepreneurs Michael Cao and Winnie Liu.
Recently, Wyoming became the first country in the entire world to give official status to an EOS-based DAO or decentralized autonomous organization. The DAO named American CryptoFED features two tokens, Ducat, and another one is Locke that has a cap of 10 trillion tokens.
Projects built on EOS
- Eosfinex is a non-custodial trading platform that allows to trade using the security of an EOS non-custodial wallet.
- EOSDT is a decentralized stablecoin, just like the well-known USDT. It is available on several large exchanges such as HitBTC, Bancor, and Changelly.
- Defibox combines the blockchain with DeFi protocols allowing to Swap and Lend by using their native stablecoin – BOX
- Upland is a virtual property trading game that runs on the EOS blockchain. It currently has more than 35 thousand users with more than $500 thousand worth of transaction volume.
- American CryptoFed DAO is the world’s first payment structure that will be issuing a digital asset whose value is noninflationary.
What affects EOS price?
EOS value is affected by the same principles that determine the price of every cryptocurrency. It is the total circulating supply and the market demand.
As of right now, the EOS circulating supply is 955,458,397 EOS tokens with a cap of 1,031,542,142 EOS tokens. EOS’s total market capitalization totals $3,526,871,829.29, with a 24-hour trading volume at $703,130,567.96. The demand for digital currency will likely further increase as the overall EOS mainnet, and surrounding ecosystem develops further.
EOS price analysis and history
EOS has spent most of the past two years trading above $2 support, after the previous all-time high of $22.89 was completely retraced in 2018. Since then, EOS has started to recover as the major resistance around the $5 mark has been tested.
In the 2020-2021 bull run, the EOS price rise led to a value of $14.37. Its 2018 high remains untouched. Although since the onset of the bearish market, the price of the coin has come down significantly as it is trading at $3.73 right now.
How much is EOS now?
As of the 24th of July, 2021, EOS trades around $3.73 after reaching a new yearly high of $14.37. Considering the overall bullish momentum for EOS/USD, we can expect the market price to increase further over the upcoming years.
Technical analysis of EOS price
For the past years, EOS has traded in a relatively large range of $2-$4 after most of the gains seen in the previous bull cycle were retraced. Right now, EOS had moved above the $4 resistance and trades just below $5, which, as mentioned before, served as a strong reversal point for the market.
Once we see EOS break the $5 mark, the next major price target is located around $8, meaning that we could see EOS almost double in the upcoming months. Next, EOS would be ready for a retest of the all-time high at the $23 mark.
When looking at the price action for the past years, we can set a positive EOS forecast price. In the middle of February, EOS/USD saw a rapid movement of over 100 percent from the low around $2.4 to the high at $5.6. After a brief rejection and a move below $5, EOS/USD did attempt to move higher again.
As of now, BTC is falling and is around $34k. If BTC were to fall apart, we could say that the entire industry will see another fall in the EOS price targets. But it can also be confirmed that if such a situation arises, the price targets will rise quicker in the coming months. EOS started the year with bullish momentum, but right now, it’s bearish.
As visible from the above 4-hour chart analysis, the price of the coin is trading above the 50-day moving average and has just crossed the 100-day moving average. Looking at the RSI, we can see that the overbought lines are being touched. We can say that reversals are possible.
How much will EOS be worth?
The minimum price that we expect EOS to reach by the end of 2021 is the previous all-time high of $23. Considering that the coin currently trades at $3.4, it would only take EOS/USD price to increase by less than seven times.
Considering the previous EOS price history, when EOS moved from a low of $1.5 to a high of $23, meaning a price increase multiple of just over 15 times, we could see similar gains for the current bull cycle. If we consider the current low of $2 as the basis price, this would mean that EOS will reach at least $30 by the end of 2021.
From there on, further EOS market price increase will depend on what the overall cryptocurrency market momentum looks like. If Bitcoin and major altcoins keep increasing in price, we are likely to see EOS reach further highs in 2022, according to various educational resources.
EOS Price Predictions for 2021-2025
Several EOS price predictions have been recently made. They range from very bearish to extremely bullish. Therefore, it is hard to estimate the average EOS price forecast for the upcoming years, and we have to look more in detail. Below we can see some of the best-known EOS price predictions using technical analysis.
Wallet Investor EOS Price Prediction
Wallet Investor is very bearish for EOS over the upcoming years. They estimate that EOS will continue towards the month of July in 2022 at a price of $3.9.
Wallet Investor says that within 5 years, it will trade at around $5.3 USD.
TradingBeasts EOS Price Prediction
According to Trading Beasts, EOS might finish the year with a max of below 5 USD, a min of above 3 USD, and an average of 3.4 USD.
For the long term, the EOS coin will reach a max of 6.67140 USD by 2024, a min of 4.5 USD, and an average of $4.5.
DigitalCoin EOS Price Prediction
Digitalcoin has a conservative but bullish EOS prediction for the upcoming years. By the end of this year, they estimate EOS will be worth $5.25, with consistent growth over the following years. By 2028, EOS is predicted to reach $16.1.
Is EOS a good investment in 2021?
When looking at technical analysis and price history for EOS along with the EOS predictions, it has been consolidating for most of 2019 and 2020 above the $2 mark after a strong bearish trend was stopped during the second half of 2019.
This year, the price started slowly trending higher again and later fell down hard and currently is below the $4 mark. At the time of writing, EOS is trading around $3.6.
Therefore, when looking at EOS price action over the past years, we can see a bullish price structure forming. EOS will likely continue moving much higher this year as it looks to break the previous all-time high of $23 finally.
Additionally, EOS has announced a partnership with Google Cloud services to help the network with block production. Therefore, EOS coin price prediction is very bullish for 2021. If the current momentum continues, we should see EOS reach the all-time high of $23 by the end of 2021, meaning a very good potential investment decision.
What does the EOS future look like?
EOS developer Block.one continues developing the blockchain and has recently announced a partnership with Google cloud to sustain its network. If we see more partnerships like this, EOS should continue growing over the upcoming years, not only in terms of price but only in popularity.
The blockchain itself provides fast and scalable processing. With the development and overall popularity of Smart contracts and Decentralized Applications (DApps), EOS should grow further as one of the leaders in the ecosystem.
EOS is one of the best-known cryptocurrencies for the past years. The year-long Initial Coin Offering attracted $4 billion of capital by the middle of 2018, making it one of the largest and best-known ICOs to date. Since then, Block.one and the surrounding community continues to develop EOS as one of the best-Delegated proof of stake blockchains, with fast speeds and good scalability.
Considering EOS’s price performance over the past years and the current bullish momentum over the first months of 2021, we expect EOS to reach a new all-time high by the end of 2021. Currently, EOS trades around $5, meaning that we could see a price multiple of at least four times.
From there, much depends on how the overall cryptocurrency market performs. However, according to many estimates, EOS should reach the $100 mark by 2025.
Will EOS reach $1,000?
EOS currently trades above $4.5, with an all-time high of $23. Therefore, to reach $1,000, the EOS price would have to increase by more than 200 times. This would mean that the total market cap of EOS reaches over $800 billion.
During the previous bull run in 2018, the EOS price moved from $0.5 to $23, meaning a price increase multiple of 46. Therefore, EOS would likely need at least two more cycles to reach the price prediction of $1,000, and we expect this to happen by 2025. However, making an EOS price forecast for such a large increase is a mild estimate, and don’t consider it precise investment advice.
What will EOS be worth in 2025?
According to various estimates, EOS could be worth more than $100 by 2025. The latest prices for EOS indicate that the market has regained its bullish momentum over the first months of 2021. If the current bullish momentum is sustained, we should see a new all-time high for EOS by the end of 2021. From there, much depends on what the overall altcoin market momentum will look like.
What is Block.one?
Block.one is a private company registered in Cayman Islands that develops the EOSIO platform that runs EOS tokens. Established in 2017 by Brendan Blumer, who became the CEO, and Daniel Larimer (CTO), it is will one of the largest companies in the cryptocurrency ecosystem.
Where can you buy EOS?
Since EOS is one of the best-known cryptocurrencies today, trading of the coin is available on most of the largest crypto exchanges such as Coinbase, Binance, and Huobi. On smaller exchanges or ones that are more strictly regulated, EOS might not be available.
How to Store EOS?
As with popular cryptocurrencies, EOS can be stored on popular hardware wallets such as Ledger Nano S and Trezor. For software/desktop wallets, several options are also available such as Jaxx, Exodus, Atomic wallet, and Infinito.
How to mine EOS?
EOS uses Delegated Proof of Stake (DPoS) consensus mechanism, which requires no mining. Therefore, if you want to help maintain the blockchain, you have to stake your EOS tokens. From there, you select the network validators by using your staked coin votes and get rewarded in proportion to your staked coins.