Connect with us

Blogs

Here Is Why $35 per EOS (EOS) By End Year Is Still A Low Prediction

Published

on

EOS
READ LATER - DOWNLOAD THIS POST AS PDF

EOS (EOS) is the talk of the town also known as the crypto-verse. The new blockchain project promises to fix the issues on the Ethereum Platform as well as take away some of its market share in the smart contract industry. The current issues of a constitution are still eons ahead as to how Ethereum is governed by a foundation and not its community. The fact of the matter is that pure decentralization cannot happen immediately as everyone wants it to happen. One is tempted to point out that Ripple (XRP) is currently starting to decentralize after 6 good years in the industry and as a centralized project.

But we are digressing. Let us concentrate on the matter at hand. There has been a lot of talk on the web that EOS will probably finish off the year at a value of $35. This is due to the fact that its MainNet is running and its bull run could be similar to how Ethereum managed to sprint through massive gains in 2017. By this time last year, ETH had spiked from $10 in January 2017, to being valued at $285 at the beginning of July. This is a percentage gain of 2,750% in 6 months.

ETH would then peak to $844 by mid-December: a gain of 1,960% from the July levels.

So why was ETH gaining rapidly?

To begin with, it was ICO season back in July to December of last year. Most ICOs used the ERC20 protocol. A second reason is that Ethereum had the momentum and hype surrounding it. Something similar to what EOS has right now.

So what is a good EOS price prediction?

A conservative estimate puts the gains of EOS by the end of the year at 1,000%. This means at current levels of $9.11 at the beginning of July, EOS will be valued at around $91 by December or even more.

But how will EOS make those levels?

The platform has the momentum similar to the one possessed by Ethereum back in mid-2017. Everyone is talking about EOS. Even the Chinese government currently ranks it as the number one blockchain platform ahead of ETH and NEO. If a whole government loves a project, it must be extra good.

A second reason is that the creator of EOS, Block.one, wants a complete overhaul of the constitution. This news has brought back investor confidence and EOS has spiked 10% in the last 24 hours. The coin has had an impressive rally since the announcement was made 5 days ago at the moment of writing this. The intention to overhaul a constitution can be compared to what happens when actual nations change their constitution. More investors come in for they know that the country is progressive. Therefore, this is a sign that EOS is also progressive and the investors are noticing.

A third reason is that June 2nd might just be the start of the 2018 Bitcoin (BTC) bull run. What happened on this date is that Bitcoin broke free of the $6,200 levels it was hovering around and went up a few hundred in value to settle at the current levels of $6,640. A healthy Bitcoin means a healthy crypto market and EOS will also ride the wave of good fortune.

In conclusion, EOS is on its way to repeating, and perhaps eclipsing, the achievements seen by Ethereum last year on two fronts. The first is market performance and the second is EOS being the platform of choice for DApps and ICOs. Let us sit back and enjoy the ride!

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pexels

Blogs

How is the Crypto Market Changing?

Published

on

crypto market
READ LATER - DOWNLOAD THIS POST AS PDF

It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

Continue Reading

Blogs

Understanding the Uses of Different Types Of Cryptocurrencies

Published

on

cryptocurrencies
READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

Continue Reading

Blogs

New DoJ Ruling May Cripple Gambling dApps

Published

on

gambling dApps
READ LATER - DOWNLOAD THIS POST AS PDF

A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

Continue Reading

Elite