The crypto-market has been facing many ups and downs over the last few months. Some coins have gone down quite low that it is becoming challenging for them to get back. However, some of them like EOS has been progressing despite all the shamming of the market.
EOS works towards helping developers build decentralized applications, and, this is something that is attracting a lot of developers. The model in which the platform is running looks quite promising; as its scalability is quite massive. One positive thing that makes this platform better is that the very same developer is allowed to build many similar applications on the blockchain platform.
EOS seems to be moving towards success over the last couple of days. Over the last 24 hours, the value has been getting closure and closure to $9, and it looks like it will go higher.
It was also noticed that EOS stands with $6.6 billion value in the market cap at the moment (as per April 17th). Because of its decentralized nature, more companies are using EOS — making it quite significant in the crypto market as the time is passing.
Although the news does not guarantee a consistent hike, it has been speculated that investing in EOS at the moment can be profitable as there is a good hike in its value.
Here, right below, I’d like to shed light on few latest EOS happenings:
- At the beginning of the year, EOS saw a value of $18. Later there was a dip in its value because of the fall in the crypto market as a whole. At the moment it is slowly recovering and has reached almost $9, is at $8.45 to be exact. This upward movement seems to be quite promising and is soon expected to go up, to the point where it could even reach $15 and higher.
- It was also absorbed that EOS was one among the few others to start off with the surge. In fact, the coin was followed by a few others that witnessed the surge as well. This points out that EOS might be leading the way for many other platforms in the future.
- Other coins such as Bitcoin and Ethereum are still seeing a slow progression, but EOS seems to be picking up quite fast. Undoubtedly, this is a favorable sign for the company.
- Over the last week, it was seen that EOS went above 30% of a hike getting into the top 6 in ranking. (As of 17th April, the ones that stand ahead of EOS are Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin).
What are the negative signs to look out for?
- One thing that EOS needs to maintain is the $8 threshold. It is apparently not the limit, but if it goes below this mark after reaching there, then it might lose its value in the market.
- There have been a few critiques of EOS. Earlier, John Oliver, the talk show host, had criticized EOS in March and spoke about the lack of seriousness in the company.
How does EOS look now?
All in all, the growth that EOS has been observing seems to be positive. Earlier this year, in January, it was in the top 10 after which it progressed to the 9th place in March. Earlier this week it again shot up to the 6th place and is maintaining its position rather nicely as of now. The coin is likely to top Litecoin in next couple of days!
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
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