If you’ve considered adding cryptocurrencies to your trading strategy or investment portfolio, you’ve likely come across EOS. Is this altcoin worth your while? Is it better to trade EOS, invest it, or just leave it alone altogether? Today, we’ll take a look at the history of EOS and its present, short-term and long-term price predictions, and even show you how to do technical analysis. Let’s get started!
What Is EOS?
Did you know that EOS was one of the most successful ICOs of all time? ICOs are a way for innovative crypto projects to raise money - rather than receiving fiat monies, ICOs fundraise via popular cryptocurrencies like Bitcoin or Ethereum. EOS’ ICO began on June 26, 2017, and lasted for 350 days. Throughout this nearly-year-long period, the ICO raised an astonishing $4bn. With such a promising start, it’s no wonder that EOS consistently remains on the Top 10 cryptocurrency list.
Block.one published EOS, and CTO Dan Larimer (who also founded BitShares and Steemit) leads its development. Direct rivals to EOS include NEO, Ethereum, and Cardano. EOS tries to pull away from the competition with its capability of handling thousands of transactions in a single second, the lack of direct fees, token-holder governance for business and chain maintenance, and improved usability for all involved parties.
And this is just the beginning. EOS developers have stated that the token’s platform, EOS.IO, is capable of scaling up to millions of transactions per second. Compare that to Ethereum 1.0 and 2.0, which handle 30 and 100,000 transactions per second, respectively. You can see why EOS.IO would be a great choice for the financial industry, in which the need to process millions of transactions per second is quite pressing.
Overall, though, we can sum up the purpose of EOS in just one sentence: it enables businesses and individuals to develop smart contracts and blockchain-based apps via an accessible and secure online platform.
How Does EOS Work?
EOS’ platform, EOS.IO gives each participant stake (or a certain amount of power): the exact amount of stake depends on how many EOS tokens they own. Thus, EOS.IO follows the token ownership governance model. Each node, or network participant, can use the delegated proof of stake (DPoS) system to elect representatives for blockchain maintenance. Individuals can make transactions using EOS tokens, which must be approved via DPoS protocol before being recorded on one of EOS’ blockchains.
EOS.IO 2.1
On December 15, 2020, the EOS.IO website released an announcement on the upcoming update to EOS.IO 2.1. As developments in blockchain platforms can significantly influence the price of their respective tokens, we thought that the new features were worth mentioning.
The main purpose of EOS.IO 2.1 Release Candidate is to help the platform evolve as a highly scalable, reliable, and performant blockchain solution. This release largely focuses on improving the ease in which developers can use the platform to build large-scale applications - and then maintain them after deployment. The new product features found in EOS.IO 2.1 RC will include:
- Key Value Tables
- Action Return Values
- RocksDB Storage for Key Value and DB APIs
- Nodeos Failover Solution
- Ability to Prune Context-Free Data
- Instrumentation Support for Nodeos
- Fill-pg
So, what are the major implications of this update? Essentially, all of the above-mentioned features will make EOS.IO much more attractive to app developers - so we can expect the platform to receive lots of new exposure, leading to potential increases in its token, EOS.
Existing EOS Partners
EOS partners mentor and support entrepreneurs who are building innovative blockchain projects. These partners include:
- EOS Global: A venture fund used to invest in developers and entrepreneurs who use EOSIO technology.
- Galaxy Digital: An investment firm that provides asset management, trading, advisory, and principal investment services.
- SVK Crypto: Focuses on supporting decentralized autonomous communities under social media, data control and ownership, and supply chain/logistics spheres.
- FinLab: A leading investor in global financial services technologies.
As EOSIO continues to develop, there may be new partners, and investors added to this list.
Projects Built on EOS
Some of the projects that leverage EOS.IO technology include:
- Braintrust
- Digital Oracles
- GENBank.io
- Koji
- SenseChat
- TrueOrigin
- And many, many more.
What Affects EOS Price
As we mentioned earlier, updates to the EOS.IO platform can influence the token’s price. However, there are a plethora of other factors that can influence the price of this altcoin. Let’s take a look at some of them.
EOS Supply
At the beginning of EOS, 1 billion tokens were created - and, out of those, block.one retained 10%, 20% were sold off during the ICO, and the rest have been distributed through a constant sale. The total EOS token supply grows by 5% per year.
EOS’ infinite nature (due to its yearly increase) means that the tokens have not reached valuations at the levels of larger cryptocurrencies (think ETH and BTC). Think of it this way - even outside of the cryptocurrency industry, finite resources (e.g., gold) are more valuable than unlimited resources. However, if the demand for EOS tokens increases - like, for instance, if the effects of EOS.IO 2.1 bring huge exposure - then the market price would increase correspondingly.
Public Perception
Media reports that take a positive spin on EOS, reporting it to be useful and stable, will contribute to the public perception that EOS is valuable - thus causing an increase in market price. Conversely, negative media attention could damage EOS’ public perception and come alongside a decline in price.
We can actually see this in practice: just last week, Dan Larimer announced that he left Block.one - the company that built the EOS blockchain software. After his resignation was made public, the token fell by 16%. Even though his formal resignation took place on December 31, 2020, the token did not decline in price until he published an announcement on his blog on January 10, 2021.
Mainstream Adoption
As more mainstream companies start to embrace blockchain technology, the market price of cryptocurrencies across the board will rise. And if EOS.IO manages to set itself apart from other dApp platforms, its token’s price would likely benefit.
Other Cryptocurrencies
Did you know that EOS has the nickname “Ethereum Killer?” That’s because it is competing for the same developer and dApp market as ETH is. ETH suffers from transaction speed issues, whereas EOS is highly scalable and has the potential to process millions of transactions per second - and, what’s more, all without transaction fees. If EOS.IO gains the attention of dApp developers who already use ETH, and they switch platforms, then this could cause a significant boost in the price of EOS.
EOS Price Performance in the Past
Now that you have a solid understanding of the EOS.IO platform and its token, let’s take a look at how EOS has performed on the market in the past. EOS has been on the market since June 26, 2017. It was first traded on the crypto exchange for $1.03 on July 1, 2017. There was an initial spike bringing the price up to nearly $5, before it dipped back down and moved sideways for most of the rest of the year.
Come December 2017, though, EOS experienced large increases, jumping past the $10 mark. 2018 brought even better highs, with the $20 mark being crossed in late April. In fact, EOS experienced its all-time high on April 29, 2018 - sitting at $22.89. However, by the end of 2018, EOS dropped significantly, even reaching as low as $1.74 on December 7 - a large YoY decline.
Mid-2019 experienced a spike, but nowhere near as large as what was experienced the previous year. EOS peaked 2019 at $8.52 on May 31, and it finished up the year at $2.62. During 2020, EOS mostly moved sideways - it started the year at $2.59 and concluded at $2.61.
How Is EOS Now?
As of the time of writing (January 21, 2021), EOS’ current price is $2.5948. We want to take a second to show you what a technical analysis for EOS would look like (and we’ll show you how to create your own later on in this guide). We’ll look at EOS’ performance on January 20, 2021.
EOS fell overall by 0.2% on the 20th, following the 19th’s 1.02% decline. EOS rose to an early morning intraday high at $2.8350 before reversing. It fell short of the first major resistance level, sliding to a late afternoon intraday low of $2.6319. EOS then fell through the first major support level and revisited $2.80 levels. The bearish end of the day, however, caused EOS to fall into the red, closing out at $2.7830.
EOS’ technical indicators for January 20 are as follows:
- 1st Major Support Level: $2.6649
- 1st Major Resistance Level: $2.868
- 23.6% Fibonacci Retracement Level: $6.52
- 38% Fibonacci Retracement Level: $9.68
- 62% Fibonacci Retracement Level: $14.77
Now that we’ve taken a look at a snippet of EOS’s performance, let’s see how it factors into the bigger picture. The price of EOS fell significantly partway through January - this is due, in part, to the major volatility that the cryptocurrency market is facing right now and, also, in part, to Dan Larimer’s resignation. However, these factors are only temporary, and many crypto experts believe that the altcoin will bounce back (more on that later).
Short Term-EOS Price Prediction for 2021
EOS, just like the rest of the cryptocurrency market, is highly dependent upon BTC’s price action. If BTC has another bull run, EOS may have one as well. BTC typically has a cool-off period after mega bull runs, which is when altcoins like EOS take over and experience great increases - often tripling prices in just a matter of days.
With COVID-19, the global economy went into hibernation for a few months, which had a negative impact on cryptocurrencies - BTC was sent downhill, and we experienced daily losses as high as 40%. However, the situation stabilized before too long, and BTC brought the entire cryptomarket back up. So, what does this mean for EOS price throughout 2021?
Well, as long as BTC is in the primary role and pulls the market upwards, there is not much room for EOS to shine, but it will continue to rise in its USD value as the overall market rises. However, the EOS/BTC ratio may slump to all-time lows. This means that it is likely best to remain invested in BTC until it reaches its peak, at which point it would be safer to consider altcoins like EOS. And, when altcoins are in their prime, EOS will be at the forefront. This is because money typically flows from BTC profits to big cap coins and bluechip altcoins before trickling down to smaller projects.
To sum up, EOS might go through some unpredictable pumps, but for most of the short-term period, it will have murky sideways trading. We’ve included a reasonable 2021 price prediction chart below.
|
Month |
Rate Forecast |
MIN Rate |
MAX Rate |
Changes, % |
|
Feb |
3.90 |
3.57 |
4.11 |
13.15 % |
|
Mar |
4.30 |
4.03 |
4.63 |
12.97 % |
|
Apr |
4.51 |
4.33 |
4.71 |
8.07 % |
|
May |
4.96 |
4.67 |
5.15 |
9.33 % |
|
Jun |
4.96 |
4.62 |
5.29 |
12.67 % |
|
Jul |
5.44 |
5.18 |
5.85 |
11.46 % |
|
Aug |
5.42 |
4.99 |
5.69 |
12.31 % |
|
Sep |
4.92 |
4.76 |
5.34 |
10.87 % |
|
Oct |
5.18 |
4.74 |
5.56 |
14.76 % |
|
Nov |
6.64 |
6.35 |
7.12 |
10.82 % |
|
Dec |
6.69 |
6.39 |
7.11 |
10.13 % |
EOS Price Prediction for 2022
Here is a continuation of the price prediction, moving into 2022. Remember, the further out a prediction goes, the less stable it becomes.
|
Month |
Rate Forecast |
MIN Rate |
MAX Rate |
Changes, % |
|
Jan |
7.61 |
7.36 |
8.08 |
8.92 % |
|
Feb |
7.77 |
7.27 |
7.97 |
8.79 % |
|
Mar |
8.78 |
8.38 |
9.21 |
9.02 % |
|
Apr |
10.26 |
9.80 |
10.43 |
6.04 % |
|
May |
9.68 |
9.48 |
10.03 |
5.49 % |
|
Jun |
9.35 |
9.15 |
9.79 |
6.54 % |
|
Jul |
9.84 |
9.54 |
10.08 |
5.36 % |
|
Aug |
9.43 |
9.24 |
9.81 |
5.81 % |
|
Sep |
10.91 |
10.64 |
11.07 |
3.89 % |
|
Oct |
10.69 |
10.53 |
11.05 |
4.71 % |
|
Nov |
10.58 |
10.19 |
11.03 |
7.62 % |
|
Dec |
11.67 |
11.53 |
12.00 |
3.92 % |
EOS Price Prediction for 2023
EOS’s price in 2023 largely depends on 2 things:
- How BTC is performing;
- Whether it has managed to “steal” competition away from Ethereum.
Below, we have included a realistic price prediction for EOS in 2023; however, if EOS does manage to take over ETH, then it could potentially increase to $35+ plus, rather than the $11 - $15 that we are predicting.
|
Month |
Rate Forecast |
MIN Rate |
MAX Rate |
Changes, % |
|
Jan |
12.26 |
11.95 |
12.41 |
3.71 % |
|
Feb |
13.02 |
12.79 |
13.35 |
4.20 % |
|
Mar |
13.32 |
13.05 |
13.44 |
2.90 % |
|
Apr |
14.31 |
13.81 |
14.58 |
5.28 % |
|
May |
15.08 |
14.81 |
15.26 |
2.95 % |
|
Jun |
15.61 |
15.29 |
16.01 |
4.50 % |
|
Jul |
15.48 |
15.12 |
15.70 |
3.70 % |
|
Aug |
16.04 |
15.71 |
16.54 |
5.02 % |
EOS Price Prediction for 2025-2030
We aren’t going to provide a price prediction chart for 2025 and beyond - at that point, it is so far in the future that a prediction chart has very little accuracy. However, we do have one major insight: rather than focusing on what EOS will be worth in 2025, the better question is - will it still be a viable altcoin in 2025? If it manages to last that long, it implies that EOS has found a niche for itself and has significant mainstream adoption. So, in 2025, EOS will either balloon in value, or it will fizzle out altogether.
Technical Analysis of EOS Price
Earlier in this guide, we showed you a technical analysis of EOS price. If you want to trade cryptocurrencies, learning to read technical analysis is a crucial skill - but it is even more important to be able to make your own. Here’s a mini crash-course on technical analysis:
- Step 1: Find the right trading account. It should offer relevant functionalities for tracking and monitoring your desired technical indicators - while also keeping costs low enough that they don’t eat into your profits. Libertex is one such kind of account - and you can even make a demo account to practice trading strategies without risking a single cent.
- Step 2: Understand Dow’s theories. There are three in total: (1) Fluctuations in the market reflect known information, (2) Price movements can often be predicted and charted, (3) History repeats itself.
- Step 3: Look at shorter timelines. While fundamental analysis looks at long periods of time, technical analysis focuses on periods ranging from a few minutes to a month.
- Step 4: Spot price trends by reading charts. Trends are classified by type (Up, Down, Horizontal) and duration ( Major, Intermediate, Near-Term).
- Step 5: Understand support and resistance levels. Support is the lowest price your cryptocurrency can reach before buyers drive the price up. Resistance is the opposite: the highest price it reaches before sellers cause the price to fall. When a chart depicts channel lines, the bottom one is the support line, while the top one is the resistance line.
- Step 6: Use moving averages to offset minor price fluctuations and use oscillators and indicators to support what the price movements imply. Some useful indicators include ADX, MACD, and RSI.
Long-Term EOS Price Predictions by Experts
What do the experts think EOS has in store for traders? We’ve compiled analyses from some of the top crypto industry publications and traders.
- Investing Cube. According to Crispus Nyaga, a financial analyst for Investing Cube, EOS is one of the worst-performing cryptocurrencies of 2021, and it will fall in the short-term.
- CoinSwitch. CoinSwitch has a much more optimistic view of EOS - they called attention to the fact that Google Cloud has joined EOS’ blockchain community, and they believe this will help the altcoin grow at a faster pace. Their verdict is that EOS’ future price will reach an astonishing $106.77 by 2025.
- WalletInvestor. According to WalletInvestor’s algorithm, EOS is a bad long-term investment. This financial analyst group published a forecast earnings growth chart, in which they predict that EOS will have -100% growth by January of 2026.
Should You Trade or Invest?
While there are still some believers in EOS, the altcoin’s future largely depends on if it can overtake ETH. For some investors, this is simply too large of a risk. Thus, it may be safer to take advantage of EOS’ short-term fluctuations by trading, rather than making a long-term investment.
One way to get potential profit in a shorter period of time is to trade EOS CFDs. You can make profits regardless of which way EOS is moving. But please note that trading CFDs with leverage can be risky and can lead to lose all the invested capital. Libertex is one platform that makes it simple to trade EOS CFDs, and you can even set up a demo account to trade risk-free.
Why to trade with Libertex?
- access to a demo account free of charge
- technical assistance to the operator 5 days a week, from 8 a.m. till 8 p.m. (Central European Standard Time)
- leverage of up to 1:600 for professional Ñlients
- operate on a platform for any device: Libertex and Metatrader
FAQ
What Will EOS Be Worth in 2021?
According to our price prediction, EOS may close out 2021 between $6.39 and $7.11.
Is EOS Worth Buying?
EOS is a risky investment - thus, it may be safer and more profitable to trade EOS CFDs rather than adding EOS to your investment portfolio.
Does EOS Have a Future?
Yes, EOS does have a future - that is, if it is able to overtake ETH.
What Will EOS Be Worth in 2025?
If EOS is still around in 2025, then it has likely carved a niche for itself and could be worth $35+.
Will EOS Reach $1,000?
It is difficult to say whether EOS will reach $1000. Right now, that is outside of the scope of our predictions; it could take decades for the altcoin to reach such a level.
