EOS now has to prove it can survive the temporary downturn in altcoin prices.
1 hr ago
EOS may be seen climbing to $30, or even higher after the mainnet launch. But for now, the asset will have to survive a temporary downturn in altcoin prices. For now, EOS held on, with a net daily gain of around 3%, to $13.84. Yesterday’s auction also saw active bidding in response to the rapidly rising market prices, also taking EOS above $13 based on Ethereum entering the auction that day.
baseUrl = "https://widgets.cryptocompare.com/";
var scripts = document.getElementsByTagName("script");
var embedder = scripts[ scripts.length - 1 ];
var appName = encodeURIComponent(window.location.hostname);
var s = document.createElement("script");
s.async = true;
var theUrl = baseUrl+'serve/v3/coin/chart?fsym=EOS&tsyms=USD,BTC';
s.src = theUrl + ( theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName;
At one point, EOS climbed as far as $14.43. The asset has already recovered its Bitcoin peak from the end of last year, and trading volumes are at near-record levels. EOS keeps getting a boost from trading against the USDT, as well as the Korean Won, where it has a slight price premium.
In the coming days, the EOS community will become more active as a discussion around the candidates for block producers is heating up. Some believe the block producers should be specific and have a high understanding of the EOS community, instead of just going for rewards and profits. Some believe that the most prominent candidates, Bitfinex and Antpool, have no place in the governance and securing of the EOS network.
The HuobiPro exchange also announced it would campaign to become a block producer. So far, there is little transparency on how much EOS needs to be held to become a block producer.
But while the rather obscure block producer issues are being discussed, the speculative trading for EOS, and the scarcity of daily auctions, may just keep adding to the hype. This may turn EOS into a highly attractive, but also risky asset, especially for newcomers.
Still, the unrelenting climb of EOS has baffled many, ever since EOS suddenly doubled from $0.50 to $1 and continued to climb in the fall of 2017. The EOS wallet has been extremely active, and some price manipulation may be possible for the EOS auction price. However, the speculative USDT trading is not to be underestimated.