As we can see EOS is seeing some very positive movements of late, granted the price of EOS is currently very low, some might even say that at the moment, 1 EOS token is an absolute bargain given that during the spring of 2018, EOS reached an all time high of over $21.00. Prior to this, EOS registered a price of $4.34 proving that as it stands, surpassing the $20.00 threshold is still within the grasp of EOS and a big bull run could be all EOS needs to actually set a new all time high in 2019.
Of course, you should consider this as speculation. We can’t guarantee that EOS will embark on a surge and if it does, there is no way to measure how likely it is to move past $20.00. Therefore, do not use this as justification for your next EOS investment, instead, use it to inform your own research into the area. Find the facts and draw your own conclusions, this is the only way you can become a better investor!
What is driving EOS at the moment?
Okay, so we have seen that EOS has gained some gentle momentum, this is exactly what happened when EOS spiked last time. EOS started to move away from the overall market trend and began to climb on it’s own, pulling the rest of the markets with it. As a matter of fact, the last EOS surge encouraged Bitcoin to almost tip $10,000.00. The rise we have seen recently does stand out against the market trend, given that generally the markets have been in a decline through January. EOS is gaining momentum, finally!
There's no lone trigger for this climb, it seems that this seems to be a combination of correction and a bit of a positive feeling towards EOS as a cryptocurrency and a project. This feeling is of course encouraged by some positive announcements from within the EOS community, announcements that are helping to spread the word of EOS and likewise, that are helping investors begin to feel a little more bullish about the whole thing.
As per a recent report by The Merkle, such positive movements have come via Boscore, the launch of a smartphone EOS block explorer and through input from some industry experts
The Boscore network has launched an interchain communication function between BOS (the Boscore network) and EOS. This acts as a sidechain that allows EOS to move onto the BOS mainnet, or otherwise, BOS to the EOS mainnet. THis is positive, as it opens up options for new cross chain transactions to be made between EOS and BOS too, meaning the ecosystem is set to facilitate other tokens in the near future. It seems that BOS is the first network to work alongside the EOS mainnet in this way and therefore, many believe that Boscore have laid foundations for an entirely new culture of cross chain transactions within EOS.
Recently, Cypherblock.io have announced the launch of an EOS based block explorer for smartphones. This comes in the form of an application that allows followers of EOS to watch and trace transactions, improving the transparency of the network and of course the decentralisation of the entire project. According to The Merkle:
“It appears a new mobile EOS block explorer application has been released recently. Although not everyone will have a use for tools like these, one has to commend the Cypherblock team for trying its hand at bringing this application to market. This is another strong sign of how the EOS ecosystem continues to grow by leaps and bounds, which is what most investors and holders should be concerned about right now.”
Of course, this is a very specific tool and one that probably won’t be adopted by the entire EOS community, but it does seem that this announcement has had a positive impact on the EOS community on the whole.
Finally, Brendan Blumer, the CEO of block.one, the company behind the EOSIO development has recently spoken out about how impressed he is with the EOS project overall, installing quite the wave of optimism within the community:
“Branden Bulmer is quite impressed with how EOS is growing across the board. New applications, sidechain-esque solutions, a growing user base, and an increase in transaction numbers are all very promising signs first and foremost. At the same time, one has to wonder how long this rate of growth can be sustained. Attracting people who are not involved in cryptocurrency yet remains a key challenge for any projects at this time.”
Blumer took to Twitter to state:
“It’s incredible to see EOS growing like this; the apps, daily active users, transaction numbers and speeds, wallets, and support tools are all revolutionary and radically decentralized.”
Positive movements from in and around the EOS camp are having a big impact at the moment. Only time will tell when it comes to the next EOS surge, however we do hope to see one soon. EOS has the power to move the markets and therefore is EOS does embark on a bull run, we should expect to see the rest of the markets following suit. Of course, EOS probably won’t hit $20.00 any time soon, but let’s remember that it’s historic trends suggest that at the very least, EOS does have the capacity to climb this high once again in the (hopefully) not so distant future.
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