Crypto investors are closely watching EOS price action and wonder what eos predictions might make sense over the next several years.
Many altcoins have had a successful 2021, but EOS has lagged behind. However, that may have recently changed, thanks to renewed investors’ interest. The EOS token price gained about 100% in the beginning of May 2021, triggered by news that its founding company, Block.one, secured $10bn funding for the launch of a new subsidiary, Bullish Global.
EOS sits at $6.15, as of 1 June 2021 - a far cry from its 2018 high of $22.89. Current market capitalisation is around $5.8bn.
Is EOS a good investment for the rest of the year and beyond? Let’s find out more about EOS, its offering, explore EOS news and determine whether it deserves a place in your investment portfolio.
What Is EOS?
EOS was developed by Block.one and released as open-source software in 2018. Founded in 2017, Block.one is supported by legendary investors Michael Novogratz and Peter Thiel. EOS had the most successful ICO of all time, raising over $4bn. The official whitepaper for EOS was released in 2017, written by Dan Larimer and Brendan Blumer, the company’s CEO.
Larimer has been involved in various well-known cryptocurrency projects including EOS, Steemit, and Bitshares. Bitshares is a decentralised exchange utilising Graphene technology (invented by Larimer). Steemit is a blockchain-based blogging and social media platform.
EOS is a blockchain-based ecosystem that enables the creation and development of decentralised apps (dApps). This is one reason why EOS is often compared to ethereum. The EOS blockchain implements the delegated proof of stake model (invented by Larimer), whereby delegates validate blocks on behalf of all nodes on the network. Delegated proof of stake (dPOS) is often faster and more efficient than other consensus models, which explains why many investors, including Thiel, Novogratz, Alan Howard and Christian Angermayer believe the EOS/USD forecast is bullish.
There are many cryptocurrency projects focusing on a specific feature or use, and EOS wants to be the most robust and powerful infrastructure for dApps. The project’s mission is straightforward – to ensure it’s easier to use than rival networks. Block.one provides a range of educational resources and tools for developers to help them quickly create functional apps. EOS markets itself as being highly user-friendly to decentralised app developers. With increased scalability, EOS is capable of accommodating thousands of dApps within its network.
EOS.io is a blockchain protocol that’s a smart contract operating system. It’s known for its user-friendly design - it emulates the attributes of a computer. One of the many ways investors believe EOS will change how corporations interact is by providing decentralised enterprise solutions that can significantly increase productivity.
Owners of EOS tokens can also vote on various issues and participate in “on-chain governance” through the blockchain. This allows for more flexibility in making critical decisions, such as freezing or bug fixing certain apps.
EOS coin price prediction: major price drivers
We cannot know the future, but the fact that EOS is seeing more interest than it has in months is a positive sign. While early momentum has cooled, price catalysts could lead to a price spike.
First, EOS understands a need to increase incentives for staking EOS coins. It appears that Block.one is looking for ways to increase staking rewards, which obviously excites EOS holders and could lead to more interest in EOS.
Second, the EOS protocol is developing an innovative PowerUp model in which a one-time payment can handle all transaction fees on the platform for 24 hours - convenient to those who dislike paying fees for transactions individually. This model is also attractive for EOS holders, who can yield a percentage of PowerUp fees generated by the network.
Third, Block.one plans to launch a cryptocurrency exchange with a whopping $10bn in funding, backed by Nomura, Thiel Capital, Galaxy Digital and other well-known VC funds. For the exchange launch, Block.one has created a subsidiary, Bullish Global.
Bullish, the new exchange, will attempt to combine the benefits of both centralised and decentralised exchanges while still offering maximum performance, privacy, and compliance to cryptocurrency traders and investors. The EOS blockchain will be used to audit transactions. With $10bn in funding, the exchange will likely attract new traders, potentially leading to more bullish EOS price predictions.
Trade EOS to US Dollar - EOS/USD CFD
EOS price prediction 2021- 2028
If you’re interested in EOS future price, you should consider its price history. In 2017, EOS was trading at around $1. By the end of the year, it’d touched a new high of $11.39. It reached an all-time high of $22.89 in April 2018, before falling to $2.56 by 31 December 2018.
The EOS cryptocurrency started 2021 at $2.61, and gradually moved up to $8.72 in April, 2021. EOS spiked at the beginning of May, hitting $13.47. At the moment of writing (1 June 2021), EOS is fluctuating around $6.15 – $6.30.
Analysts offer some positive EOS predictions. Prime XBT, for example, sees the EOS coin at around $80 during 2022-2023.
Analysts from Wallet Investor consider EOS an “acceptable” long-term investment. They give it a $6.64 price target within the next 12 months, and believe it could climb to $9.72 in a five-year period.
Digital Coin is more bullish on EOS price prediction. Its analysts believe EOS could reach $9.18 by the end of 2021, increase to $11.00 in 2022, $18.6 in 2025 and hit $28.15 in 2028.
Analysts from Wallet Investor, Digital Coin and Prime XBT share different price targets for EOS, but agree that the outlook for EOS is positive.
Recent EOS news suggests there are many catalysts to look forward to, which are crucial for cryptocurrency market movements. While EOS might not appear an ideal cryptocurrency to invest in, it could bring good opportunities for CFD traders.
EOS remains in the top 30 cryptocurrencies in the world by market capitalisation (it was ranked #23 at the moment of writing). You can buy EOS at crypto exchanges like Binance, Coinbase, and Kraken. Traders can also take advantage of CFDs on EOS cryptocurrency at Capital.com to capitalise on their own EOS predictions.
EOS has reached $20 before. It could reach 2018 highs and start moving beyond them towards $30. Although this ambitious price target will not be achieved overnight.
Anyone who trades or invests in cryptocurrencies should also recognise that crypto markets are volatile, which makes it even more difficult for analysts to make accurate price targets. At Capital.com, we offer you to track the top-traded cryptocurrencies, including EOS, in real-time and trade them with contracts for difference, speculating on their price swings.