EOS is back to it’s old tricks again, making gains at a significant pace greater than it’s top five rivals.
We have recently seen EOS lead the markets astray, in a fashion many would rather associate with Bitcoin. However, upon observation, when EOS performs well, the top end of the markets soon follow suit, and vice versa of course.
Incredibly, we saw EOS reach it’s all time high over the weekend, displaying more than just a recovery from the depression after the cryptocurrency boom at the start of 2018. Since it’s peak, the value of EOS has dropped slightly, however now it seems to be back on course to even bigger and better heights.
At the time of writing, EOS is valued at $18.69 and is up 9.24%. To really appreciate the success of EOS, we should mention that now it certainly seems EOS has cemented itself within the top five cryptocurrencies after making tracks away from Cardano. This is justified by the fact Cardano is now on the brink of only having 50% of the market capitalisation held by EOS. In order for Cardano to catch up, it really, really needs to take off. With EOS making continuous ground, that seems unlikely.
Let’s face it, if Cardano takes off, EOS will probably do the same, therefore Cardano will be left chasing its tail.
Interestingly, we can now start to consider the possibility of EOS breaching forth place and taking the hot spot from Bitcoin Cash. In order to do so, EOS needs to tip a value of around $28.00 as it stands.
A few weeks ago, this would be a preposterous claim, but let’s just consider this…
On the 10th of April, we saw EOS stand at $5.81, now, just under a month later we have seen EOS peak at $20.24. The growth it has experienced is something quite amazing. If this continues, $28.00 really isn’t that far off.
With the push $EOS is about to do for June main net, it might happen sooner than we thought.
— Crypto Mikey (@CryptoCX1) May 2, 2018
An EOS MainNet is set to launch soon enough, many are talking about this happening as soon as June. Anticipation for this will inject EOS into the limelight and thus will encourage further value to be added to the currency. Pair this with it’s potential to scrape past Bitcoin Cash and potential investment seems to be endless.
As the value of EOS continues to jump, it gets ever closer to the elusive forth spot. With fifth place sealed for the long term now, perhaps this is the next target for the EOS movement. Will it really happen? We’ll have to wait and see.
EOS has performed very well for almost a month now, continue to keep an eye on this currency, as it progresses it is making waves within the markets. Though bear in mind this is not investment advice and of course, you should do your own research before deciding what to do next.