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What Is EOS Crypto?
Recently, EOS cryptocurrency is relatively popular. And many people want to know more about the trend of EOS and EOS price prediction, but the prerequisite for understanding EOS price prediction is to know what EOS is.
EOS crypto, the native cryptocurrency for the EOS.IO blockchain, created by Dan Larimer, is a third-generation cryptocurrency that entered the crypto market in 2017.
Set up by Block.one, EOS.IO blockchain platform is a universal programmable blockchain-based platform with smart contracts capabilities. It enables decentralized applications to be created by software developers. By providing more flexibility and usability through its Dapps development, EOS is more scalable than many other blockchain-based platforms. EOS addresses itself as the most powerful infrastructure for decentralized applications and scales 100,000 transactions per second without transaction fees.
What Makes EOS Special?
Unlike Bitcoin, EOS takes Delegated Proof of Stake (DPoS) as a consensus mechanism, which requires no mining. Such a notable distinction similar to Ethereum enables EOS to handle transactions in a fast, scalable, and secure way. Therefore, it is popular among many traders. Since it requires no transaction charges, there are no counting operations needed. Compared with Bitcoin and Ethereum, EOS has the advantages of faster transaction operation, larger transaction volume, and lowest transaction fees.
Further, with Graphene technology and parallel execution, EOS outpaces many other blockchain networks. It is likely to truly handle commercial-scale decentralized applications without hitting performance bottlenecks.
How Is EOS Created?
EOS was launched via an Initial Coin Offering (ICO) on June 26, 2016. On July 1, 2017, 200 million (20%) of its tokens were initially distributed in 5 days since its launch. The ICO ran until 1st June 2018. Finally, it shook the crypto market by raising record levels of funding ($4 billion) at the end.
There is no max supply limit of EOS tokens, which means its supply is infinite. Based on the Delegated Proof of Stake (DPoS), block producers are chosen by the EOS ecosystem through voting to maintain the network. There will be annual inflation capped at 5% to fund transactions and pay block producers. Thus, if a block producer wants to help foster the blockchain, he/she have to stake his/her EOS tokens. As the distribution of EOS coins is based on the stake in coin ownership, block users are able to be rewarded EOS tokens by sharing their computing resources on the EOS network. This is how the EOS Tokens created.
EOS Crypto Price History Recap
From the chart of Coinmarketcap, we can see that the price of EOS tokens has fluctuated in a range of $2-$4 over the past years. In June 2017, EOS entered the crypto market. During the earlier phases of its ICO period, the price of EOS had been hovering steadily around $0.535659. In early 2018, since the crypto market grew explosively, EOS surged and climbed to its ATH of $22 at the very end of April. However, the primary cryptocurrency lost momentum subsequently. Since then, EOS has struggled above $2 for most of 2019 and 2020. Afterward, it has attempted to look for recovery, which achieved by reaching around $5.
In early 2020, due to the coronavirus crash and lockdown, EOS dropped from $5.352 to $1.9305 nearly within a month. Fortunately, it did not take EOS too much time to recover from this blow.
From April of 2020, EOS sprang back from $2.43 to as high as $5.47 per token. Since then, the growth of EOS has been relatively stable and the altcoin has been well into 2021.
EOS Price Prediction
EOS Price Prediction 2021
From the trading view above, in the first months of 2021, the overall upward growth of EOS has indicated a positive prospect over months ahead. Since late January, there has been a significant rally in the price of EOS. In the middle of February, the price of EOS climbed over 100% from $2.4 to $5.6. Since then, it slumped due to short-term retracement. With the support at the low mark, EOS had consolidated for several weeks and started to scale again.
At the beginning of April, with the release of the new EOSIO testnet by Block.one and the announcement of the partnership with Google Cloud to develop and operate the integration of distributed ledger technology with confidential cloud computing, the price of EOS surged to $8.74 on April 16th.
Moreover, for the latest EOS crypto news that Block.one raised $10 billion in funding, EOS’s price soared from $8.8 to a multi-year high of $14.5 on May 11(UTC).
As a result, with the advancement of the new protocol upgrades, Google Cloud integration, as well as Block.one’s $10B funding, we can see a very bullish momentum in EOS this year. Based on the previous ATH of $22, the price of the EOS crypto may go up to $23 by the end of 2021.
EOS Price Prediction 2022-2023
In view of price history, EOS had multiplied nearly over 15 times from$1.5 to $22 in 2018. During the second half of 2019, after stopping a strong bearish trend, the price of EOS had hovered above $2 for most of 2019 and 2020. It recovered from the downtrend and started to scale again in 2020. At the time of writing, it is changing hand at $6.3899. Further increases in EOS prices relies on the overall momentum of the cryptocurrency market. If the prices of Bitcoin and major altcoins continue to rise, we are likely to see EOS reach higher in 2022-2023. Considering the previous price performance and the price momentum of EOS in the first months of 2021, we believe that the price of EOS tends to reach $50 in 2022-2023.
EOS Price Prediction 2025
As one of the well-known cryptocurrencies these years, with the development and overall popularity of Smart contracts and Decentralized Applications, EOS is supposed to develop further to be one of the leaders in the ecosystem.
Additionally, the release of the new EOSIOby Block.one, the Google Cloud integration, and Block.one’s $10B funding in bullish exchange, mean a very good investment potential for traders. According to many price estimates, we expect that EOS could hit the $100 mark based on its sheer size and scale by 2025.
The current price action of EOS has indicated a very bullish trend in the near future. Since the price movement much depends on the overall development of the cryptocurrency market, it is hard to given an absolutely accurate prediction on the price of EOS. Since the crypto market is highly volatile, every trading move involves risk. Traders should conduct their own research before placing a bet.