What is EOS
If you are looking for an EOS coin price prediction for 2020, you’ve landed in the right place. This blog post takes a look at EOS’s current price, its performance in the cryptocurrency world, and the potential of the coin. But first, what is EOS?
EOS is a decentralized collection of computer systems which empowers the development and hosting of decentralized apps. The blockchain-based system is very similar to Ethereum in operation and focuses mainly on smart contracts and is faster than Ethereum.
The EOS platform is the brainchild of Daniel Larimer whose dream was to create a platform that offers security, scalability, and speed. EOS attempts to bridge the gaps which existing solutions left in the market. EOS, for instance, can handle thousands of transactions per second which is an improvement to Ethereum’s 15 transactions per second.
EOS is also cheaper in terms of service fees. Moreover, the is token cheaper than ETH, and the cost of developing and hosting decentralized apps on the EOS platform is also a fraction of what Ethereum charges. Affordable price gives small businesses a chance to scale without breaking the bank.
Dan published the EOS whitepaper in June 2017, and it became an instant hit amongst investors. To date, EOS holds the record for the highest amount of capital raised at once, which stands at $4 Billion. A lot of people showed interest in the EOS project long before it came to fruition, and this helped the project to take off smoothly.
The collection of decentralized computer systems lets users ‘rent’ bandwidth to develop, host, and scale decentralized apps on the blockchain. To get access to the platform, users have to buy and hold the EOS token, which is the cryptocurrency of the blockchain platform.
Ever since it made its debut in the world of cryptocurrencies, EOS has caught the eyes of many of those who call themselves an investor. Its price has, therefore, been under scrutiny for a very long time as many believe EOS will overtake Ethereum one day. Here is a closer look at EOS’s performance and its capacity in investment.
Is EOS A Good Investment
As of the time of writing this article, EOS has a $2,423,642,710 market cap and more than 936,000,000 tokens in active circulation. By market capitalization, EOS currently ranks 14th, and cryptocurrency experts expect EOS to rise even further in the rankings table.
Since its launch, EOS has remained profitable for its investors. The price of an EOS unit is about $2.59 currently. While its current price is a shadow of the $22 peak which the coin has hit in April 2018, the crypto-coin is still performing well, and initial investors have a more than 200% return on investment.
EOS is, therefore, still an excellent investment choice. Decentralized apps and decentralized finance have great potential in the world, and EOS is leading the way in the decentralization journey. As more industries move into decentralization, EOS will grow in dominance, and its value will undoubtedly skyrocket. There has never been a better time to invest in EOS than now.
EOS Price Analysis And Price Potential
To make our EOS price prediction, we first have to analyze EOS’s current price in 2020.
As mentioned above, EOS currently retails at $2.66, which marks a more than 30% drop in value since February when the coin’s price was $4.4. The EOS token has seen better days before hitting highs of $22.89 back in April of 2018 when most of the other cryptocurrencies were in recess. From the highs of $22, EOS slumped to $4 late in 2018 before it started to rise gradually.
2019 was full of small gains and drops in prices. The price graph was even for the better part of 2019, and the largest drop or gain in EOS price was equal to barely $2.
By February 2020, the price of EOS had risen to $4.4, which remains to be EOS’s best price for a year. The price then started slumping as the coronavirus wreaked havoc in the world to its current $2.66.
How Much Will EOS Be Worth
Many crypto experts have offered their EOS price predictions with the majority anticipating a growth in the price of the token. Meanwhile, Trading Beasts are forecasting the EOS price to be $3+ by the end of 2020.
The common trend in the majority of the predictions online is an increase in the price of a unit EOS token. Experts have enough confidence in EOS, and this doesn’t come as a surprise.
The EOS platform is the go-to platform when it comes to decentralized applications, and its dominance will grow over the next few years. EOS currently hosts more than 400 applications, but the number is growing by the day. With this growth in popularity comes an increase in demand for the EOS token hence a price increase.
Therefore, it will not be surprising if in a few years the price of EOS spikes to new highs. If you are looking for a coin with great potential to invest in before it blows up, then EOS should be on your radar.
The coin has stability in the market, a normal growth curve, and while volatility is still a concern, chances of sudden slumps are minimal. With the great digital migration already on, the only way for EOS is up. If you have some spare cash, think about investing in EOS and patiently wait for things to improve in terms of price.
While still in its infancy EOS has great potential and is a good investment to make in 2020. If you want to exchange another crypto into EOS then log onto Godex Exchange and get EOS at the best price without registering onto the platform. Trade EOS and 200 other coins anonymously on Godex Crypto Exchange.