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EOS Could Trigger The First Bull Run Of 2019
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EOS Could Trigger The First Bull Run Of 2019

We awoke this morning to news that EOS was the highest performer on the market, smashing past Tether and Stellar moving up to fourth place by market capitalisation. This huge increase in market cap seems to be down to two distinct things, firstly, a huge spike in the price of EOS and secondly, reports that have surfaced recently that discuss the market cap of EOS and how over 12% of it is now made up of other tokens built upon the EOS protocol.

If you’re not aware, EOS is similar to Ethereum in that it allows for the development of EOS based tokens, the more tokens that can built on the EOS blockchain, the higher the market cap of EOS will grow. What we are seeing now seems to be a direct result of this.

According to Block.one:

“Block.one is a software company and is producing the EOSIO software as free, open source software. This software may enable those who deploy it to launch a blockchain or decentralized applications with the features described above. Block.one will not be launching a public blockchain based on the EOSIO software. It will be the sole responsibility of third parties and the community and those who wish to become block producers to implement the features and/or provide the services described above as they see fit. Block.one does not guarantee that anyone will implement such features or provide such services or that the EOSIO software will be adopted and deployed in any way.”

During April 2018, we saw a huge spike in the value of EOS that took the token to it’s all time high of over $21.00. This bull run from EOS, seemed to then cause a spike in optimism that pulled the rest of the markets up with it. Traditionally, Bitcoin is seen as the market leader in that when Bitcoin spikes, the rest of the markets follow. During the April bull run however, EOS shot up first, calling to question the true power of EOS and the EOSIO project.

During April, when EOS shot up, Bitcoin almost peaked at $10,000.00, however, this bull run eventually fell short and led to a steep correction and eventually, the bear market that swamped the remainder of 2018. We could say that we are seeing similar motions within the markets today, as EOS embarks on a surge, the rest of the markets are following on nicely. Now of course, we can’t expect to see EOS reach over $20.00 as a result of this and Bitcoin is unlikely to peak at $10,000.00 just yet, however what we would like to ask is - will this sudden spike in EOS activity cause a bull run in early 2019?

Let’s see it this way, the current bull run could lead to something more mature and could then set the markets up for a huge run in the new year. Now we are speculating and note that this is not investment advice, however the possibility does exist, so hold on tight!

Through 2018, EOS has proven to be a great investment, this is a product that continues to grow from strength to strength and as an investment, EOS has pleased a lot of people.

EOS Market Cap Spike

As noted, EOS has seen a huge spike in market cap of late, this seems to be down to a rise in the number of EOS tokens. As it stands, EOS tokens (projects built on the EOSIO software) now make up 12.6% of the entirety of EOS’s market capitalisation.

According to Hackernoon:

“The combined market cap of all EOS tokens has now risen to $776 MM according to data from public EOS Block Explorer in November 2018. The Total Market Cap of all EOS based tokens is now $6.18 Billion. Much of this growth has been driven by recent high performance from the top ten EOS tokens, which constitute 12.6% of the EOS market cap in total.”

Such tokens include KARMA, with a market cap of $2,636,922, IQ Token, with a market cap of $90,983,882.00, DICE with a market cap of $37,034,146.00 and MEETONE with a market cap of $18,000,000.00.

The largest token built on EOS at the time of writing is EOS Black, with a market cap of around $242 million.

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Mark Nezvisky

I'm responsible for filming fresh, daily market, blockchain and crypto news for Crypto Daily's YouTube Channel. We cover a variety topics and coins to suit the taste of different investors, traders and crypto enthusiasts. For many years my background was mainly in Recruiting and Marketing. I also enjoy running a musical YouTube channel in my spare time.

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