17 Oct, 2018 at 19:37pm
EOS is currently the fifth biggest cryptocurrency in terms of market cap. The cryptocurrency has become very popular due to the promises it made that its platform is a better one for dApps (decentralized apps) and smart contracts ahead of Ethereum.
The developers claimed that its network is not affected by the scalability problem that affects Ethereum and other public cryptocurrencies. Despite recent criticisms, the outlook for the cryptocurrency by market experts still remains positive.
Let us take a look at what is EOS, its price prediction and reasons why analysts believe it would perform excellently over the coming years.
This is a cryptocurrency that was developed by Block.one and serves as the native coin of the EOS blockchain. The network was designed to be able to scale millions of transactions per second, eliminate user fees, and allows for quick and easy deployment of decentralized applications.
As a smart contract and dApp platform, EOS network has been designed to solve some of the issues plaguing the Ethereum network and offer developers a better option. It is a blockchain-based system which makes it possible for developers to launch commercial-scale decentralized applications or dApps.
Investors are very much confident in the project which is the reason why Block.one was able to raise $4 billion in its ICO that lasted for one year. EOS.IO, the EOS network is able to conduct 50,000 transactions every second which is higher than the 20 transactions per second achieved by the Ethereum network.
EOS was not left out by the bear market which has affected the prices of cryptocurrencies negatively since the start of the year. it has lost some of its value over the past few months but there is still optimism amongst analysts and investors that EOS would record massive gains once the bull market returns.
Here are some predictions from publications and personalities regarding the price of EOS.
This popular cryptocurrency website is bullish about the price of EOS which it believes would trade close to the $20 mark by the end of the year. Despite some setbacks, Wallet Investor is of the view that the features of the network would draw developers to the platform and as more people use EOS.IO, the price of the cryptocurrency would rise higher than its current price of $5.7
According to Business Insider, EOS will continue to evolve and would soon become the most preferred platform for ICOs and dApps. The publication sees EOS surpassing the $10 mark by the end of the year even though it has been trading around $5-6 over the past few months. They are also confident that it would continue to retain its position as one of the fifth most valuable cryptocurrencies.
Just recently, this UK-based cryptocurrency website wrote a piece where it revealed that it believes EOS would reach the $20 mark or even higher by the end of the year. The fact that EOS was able to attain its all-time high during the bear market is an indication that the cryptocurrency has become appealing to investors.
The site added that the project head, Dan Larimer is very popular in the crypto world and this could help convince more investors to put their money into the cryptocurrency.
The most optimistic predictions on the price of EOS. The cryptocurrency site has pegged EOS to reach the $37 mark by the end of the year. This means that they expect EOS to rise by more than 700% from its current price over the coming months.
The site pointed out that tech-savvy investors are becoming interested in this coin because of its fantastic block one technology which is helping it grow up the ladder at a faster pace.
This crypto site is bullish on the price of EOS and believes it would rise to hit the $11 mark by the end of the year. Due to the current market situation, uncertainty still remains about cryptocurrencies recording massive gains by the end of the year.
The 2-year price prediction for this cryptocurrency is very bullish by publications and analysts that have looked into it. Most of the analysts and investors are sure that the bear market which has affected crypto prices negatively this year would not last beyond 2018.
After a bearish trend, a Bull Run would follow and there is optimism that new all-time highs would be recorded in the next bull market.
This cryptocurrency publication is very bullish on the price of Ethereum, expecting it to rise by roughly 1,000% over the next 2 year. InvestingPr believes that the EOS price would reach $150 by the end of 2020.
According to the crypto site, the market cap of the general crypto market would rise massively over the next few years and the prices of cryptocurrencies would also surge with it.
Just like its prediction for EOS price in 2018, CoinSwitch has gone for a moderate prediction for 2020. They believe that the coin will hit $95 by mid-2020. They are of the view that it would not be able to maintain that price for the entirety of 2020 and see it ending that year around the $50 mark.
Just like InvestingPr, Smartereum is very much bullish on the 2-year price prediction of EOS. The site believes that it would continue to rise and hit $143 by 2020. By that year, it is expected that EOS would challenge Ethereum for the leading dApp and smart contract platform.
It is hard to predict the price of cryptocurrencies long-term due to the nature of the market. Most analysts and cryptocurrency enthusiasts don’t tend to predict beyond a year or two but there are some who believe the market would rise massively over the coming years.
The crypto expert at u.today by 2025, EOS would have spent eight years on the market and would be perfectly placed to record massive gains. Bitcoin rose to nearly $20,000 after eight years and George believes EOS would embark on the same route.
He predicts that the EOS price would hit the $1,000 mark by 2025. This would represent a massive rise over the coming seven years, with the market expected to have evolved and progressed during that time frame.
One of the primary reasons that analysts and investors are bullish about the price of EOS is its growing reputation in some Asian countries like South Korea and China. The Chinese-based cryptocurrency has been gaining a lot of traction amongst local investors who believe that it would become the leading ICO platform in the world.
Considering the fact that Asia still remains the biggest cryptocurrency market, getting the support of traders and investors there would definitely be a big advantage for any cryptocurrency.
Even though EOS faces tough competition to overtake Ethereum, it is turning out to be a very good alternative for virtual developers. The scalability problem has led to some developers building their dApp on EOS.IO, with Bancor recently following that path.
Even if Ethereum solves its scalability issues, the zero fees for users of dApps on EOS network still makes it an interesting option. It is still unclear if it will be able to dislodge Ethereum in that sector but there are expectations that EOS would experience massive growth over the coming year.
Block.one was able to raise $4 billion during its year-long ICO, making it the longest and most lucrative ICO in the history of the cryptocurrency space. With that much funding, EOS would be able to implement further changes on the network which would see it improve over time.
Publications such as the New York Times and Reuters all covered EOS and its project. With Block.one handling EOS, there is a confidence that they would be able to market the cryptocurrency very well.
Fortune.com quoted the Wall Street Journal’s observation which noted that the high value of Block.one gives investors confidence that EOS has the potential to perform well even in a difficult marketplace.
EOS has received a lot of bullish predictions from market experts. Despite the bear market affecting its price, it is averagely expected to reach the $10 mark by the end of the year. Its long-term prediction is even more bullish as most experts see it surpassing the $100 mark by 2020, which would represent a rise that is more than 1,000 percent from its current price.
Despite the scandal involving the network’s Block Producers, the developers are expected to fix those issues and stir the network to greater heights. Whatever this case may be, it would be very interesting to watch the movement of EOS this year and beyond.