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EOS Price - EOS Price Index & Live Chart

EOS is a next-generation open-source blockchain aiming to simplify the development and integration of smart contracts and decentralised applications (dApps). EOS.IO is the operating system that controls the network. The platform claims that it can fix the critical drawbacks of blockchain-like speed and scalability. EOS like Ethereum provides an ecosystem on which applications can be built. The blockchain technology was developed by Block.one and is headed by Daniel Larimer, the CTO of the company. 

A unique aspect of EOS is that instead of miners, the network has block producers who are paid using the native cryptocurrency of the platform, EOS. 

Key EOS Price Metrics

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EOS Price Graph & Exchange Rate

EOS (EOS) Price History

EOS took a unique approach by taking a year for its Initial Coin Offering (ICO). During the first release of EOS tokens in June 2017, 20% of the tokens were distributed. The rest of the coins were distributed on a continuous basis of 2 million tokens per day. An astounding $4 billion was raised for the EOS ICO. The Ethereum platform was used to raise the initial funds. The EOS mainnet was launched on the 2nd of June, 2018. The price of the coin was around $14. 

In September 2019, the US Securities and Exchange Commission charged a $24 million penalty against Block.one for launching an unregistered initial coin offering. Even though the company paid the fine, the price of the coin declined to a value of around $4. 

After the steep decline during the market crash in March, EOS recovered 65% of its value with the price rising to around $2.73 in April 2020. It made another surge in 2021, topping $14 in May.

3 Key Instances for the Evolution of EOS’ Price

1

EOS mainnet

EOS mainnet launch was planned for the 2nd of June, 2018. The cryptocurrency was initially built on top of the Ethereum blockchain and the coin was supposed to move to the EOS network after the launch. However, there have been several roadblocks hindering the deployment. The network was not operational with the coins unusable for almost five days. Just before the launch, hackers gained control of Block.one’s Zendesk account and sent phishing emails. There was also criticism of the centralised aspect of the consensus algorithm.

2

Penalty by the US Regulatory body

In September 2019, The US Securities and Exchange Commission announced charges against the Block.one company for conducting an unregistered ICO of tokens. The penalty imposed on the company was $24 million. Block.one did not register its ICO as securities and neither did it seek exemption from being registered as one. The news caused a stir in the community, but the organisation was more than willing to be compliant with the US regulations and readily paid the fine to avoid further hassles.

3

Google Cloud Partnership

In October 2020, Block.one reported that Google Cloud was planning to join EOS as a block producer. The global cloud provider aims to leverage network performance abilities and provide infrastructure capabilities to organisations to implement their distributed ledger applications. The decision for Google to become a block producer will be dependent on the vote among the token holders. The news of the collaboration resulted in the price rising over by 17%. The cryptocurrency market is quite volatile and hence quite susceptible to the events around the world. For example, with the uncertainty around the US elections, it was difficult for trade analysts to predict which way the price of coins would go. The price of EOS declined during the first week of November. Post the elections the value of the coin rose to around $2.69.

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Key News for EOS Price

Mainstream and social media are heavy influencers for the cryptocurrency whose value is at times dependent on a bit of speculation. The recent news around EOS being adopted by the leading cloud service provider caused the price of the coin to hike by 17%. Considering that EOS has strong competitors, it is important for the platform to pursue collaborative developments to encourage wider adoption. 

It remains to be seen how the events that are unfolding will affect the price of the coin. Any news that has a knock-on effect on the market could potentially sway the price of the coin. For example, the market crash resulting from the uncertainty surrounding the coronavirus pandemic led to a considerable decline in EOS price. However, the coin picked up traction riding on the news of a potential Google cloud partnership. 

EOS Price Technical Analysis: How to Identify Good Entry/Exit Points when Trading

If you are thinking of investing in EOS, it is important that you choose the right entry and exit points. Detailed guides and resources on the various investment analysis tools and techniques are readily available. Be patient and take your time to do your research. Once you have done enough analysis, only buy EOS if you have a good entry point. Otherwise, choose to be patient and wait for the right time to enter the investment. The same goes for an exit strategy. For example, EOS could be a suitable long term investment as the price is still low as compared to other currencies and its value may increase in the years to come. 

Have a Clear Goal

Charting out specific end goals would be your first step towards creating a good investment strategy. You might have personal needs like a down payment for a house, buying a car or funding your child’s college education. You might be running a business and hoping the investment gains can be used for a planned business expansion. These investment objectives are a key input to your trading decisions. It prevents you from rash selling or buying and ensures you have the blinkers on to meet the end target. 

Make Use of Analysis Tools

Technical analysis is a great technique that will enhance your investment strategy. Technical analysis deals with using the available live and historical data on price and trading volume to forecast the future price of the coin. It works on the premise that history tends to repeat itself. Recurring patterns could foretell similar patterns in the future. A break in a uniform pattern could signify potential downward or upward trends. There are many technical analysis tools you can use to help you make informed decisions. Indicators like Bollinger bands, resistance and support levels, Relative Strength Indicator (RSI) and MACD are used for predicting the future performance of a coin. 

Fundamental and Sentimental Analysis

Both fundamental and sentimental analysis are good techniques to help you with trading decisions. The cryptocurrency market is very susceptible to trending news and social media. Similarly, any news about the EOS platform will potentially impact the value of the coin. There are currently several data analytic tools available on the market that capture the sentiment around various cryptocurrencies and map them out into predictions regarding the price. Always use sentimental analysis as an add-on to technical analysis. 

Fundamental analysis, alternatively, uses information about the platform or the cryptocurrency to weigh the future potential of the coin. Metrics like transaction count, on-chain metrics and transaction value can be used for better trading insights. Fundamental analysis should be used as a complementary tool to technical and sentimental analysis to strengthen your research. 

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Frequently Asked Questions

  1. EOS achieved an all-time high of $22.89 on the 29th of April 2018.
  2. EOS has a total supply of about 1.05 billion.
  3. EOS platform stands out in terms of speed of transactions and the potential for scalability. It is currently ranked 13th in terms of market capitalisation. Some trade analysts feel that EOS could be a good choice for long term investment given its potential for growth and wide-spread adoption. However, there is also criticism around the centralised aspect of EOS’ consensus mechanism which could impact the price in the coming days. Always do your research using the tools and techniques mentioned above, before you decide to invest.
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