EOS Forecast: Will EOS Reach $500?
One of the most popular questions among EOS and Ethereum killer enthusiasts is, will EOS reach $500 any time soon?
Most crypto analysts and current EOS investors are convinced that EOS has all its takes to push its prices above $500 by the turn of the decade. The altcoin recently enjoyed a price rally that pushed its prices above $14 and its market capitalization above $13.5 billion. At the time, and given the rate with which EOS prices had jumped in such a short time, most investors were convinced that EOS would reach $500 in the next five years.
Today, the crypto market has hit a snug and cryptocurrency prices, including those for EOS, have nosedived. But the crypto market is still optimistic that EOS will rise again and possibly resume the May 2021 trend that thrusts it towards $500 over the next few years.
But even with the optimism about a bullish future for EOS tokens, the market agrees that chances for EOS reaching $500 this year or in 2022 are rather slim.
So, when will the most widely used Ethereum Killer reach $500?
When Will EOS (EOS) Reach $500?
Well, none can tell with utmost accuracy when EOS token prices will reach $500. Its volatility, controversial past, and unpredictable price action have made it hard for crypto experts and technical analysts to tell when - exactly - EOS will reach this target price. The most they can do is use its price history, the impact of its blockchain technology, and overall crypto market direction to estimate the rate with which it is expected to grow over the next few years.
Most crypto market experts are, however, convinced that EOS will eventually reach $500. But while some see this happening over the next 5 years, some feel like this will only happen over the longer term - probably in the next 10 years or beyond.
For instance, cryptoanalysts at PrimeXBT are convinced that EOS prices will continue rising moving in the next few years and that it will most likely hit $250 before 2025. Considering that EOS was trading at $6 when they made this prediction, this translates to an annual rate of growth of 926% (4167%/4.5years). Assuming that it sustains that this momentum after 2025, the PrimeXBT technical analysis model may be suggesting that EOS will most likely reach $500 before 2027.
Another technical analysis report by the CryptocurrencyPricePrediction website suggests that EOS will most likely reach $500 after 2030. It indicates that the altcoin will most probably reach $100 sometime in 2024 and go on to reach $300 at some point in time between 2025 and 2030. By the end of 2030, the typically optimistic technical analysis website suggests that EOS will be trading at $392.99, effectively implying that it will most likely reach this target price in the next decade.
But why the pessimism about EOS’s ability to reach $500 soon?
Unlimited maximum token supply: There currently are more than 1 Billion EOS tokens with no maximum supply limit. This is likely to cause disinterest in the altcoin as speculative investors fear the dilution of high EOS prices by the newly-added tokens and the possibility of price manipulation.
Stiff competition: EOS is facing stiff competition from the newer, more innovative, more scalable, and faster blockchains like Polkadot, Cardano, Polygon, etc. They have already taken up much of its market share, and analysts fear that they will continue driving the altcoin’s popularity and value down in the future.
Check Out: Will EOS Make Me Rich in 10 Years?
What Will Happen if EOS (EOS) Reaches $500?
If EOS eventually makes $500 in the future, a lot will happen. The most noteworthy will include:
- Swelling market cap: EOS does not have a maximum total supply. Therefore, by the time its price gets to $500, it would have increased its total token supply from the current 1 billion EOS coins, which translates to a colossal market capitalization.
- Bulging developer pool: EOS is already one of the most widely used blockchain technologies. Getting its token prices to $500 would build investor confidence in the network and draw in the biggest pool of developers.
- Ultimate Ethereum killer: EOS is a pioneer Ethereum killer but has been elbowed out of this position by newcomers. Growing its prices to $500 would give it credence and help it reclaim its stand as the ultimate Ethereum killer.
To get to $500, however, EOS must first grow its prices to $100. So, how soon will it get here, at the end of the year maybe?
Will EOS (EOS) Reach $100 in 2021?
Based on the current crypto market performance, it is highly unlikely that the EOS altcoin price will reach $100 by the end of the year. At the height of its price rally, in the first week of May 2021, most analysts expected it to reach or get close to $100 by the end of the year. But possible upside price action has since been disrupted, and the coin is currently trading at relatively low prices.
Currently trading at $3.91, EOS would need to grow its worth by more than 26X in the next five months if it is to end the year trading above $100. But considering that it only grew by 7X during the last crypto rally and the fact that it is currently struggling at the dip, such a momentous jump seems practically impossible.
Is EOS (EOS) a Good Investment?
Yes, EOS is a good investment. And to support this argument, we highlight two key features that make it a must-have for most crypto investors. First is its resilience, implying that no matter how many times it has fallen below its listing price, it always finds its way back and that it is why it has a positive overall ROI.
Secondly, EOS is one of the most widely used blockchain technologies, which plays a key role in influencing its token prices. It is useful because it is scalable, faster, and developer-friendly - and experts expect it to broaden its use cases by drawing in more developers moving forward.
Conclusion: Will EOS (EOS) Reach $500?
Different crypto market players are confident that EOS has what it takes to eventually reach and possibly surpass $500. They are convinced that though the momentum that helped fuel the altcoin’s early 2021 crypto rally has died and that the coin is trading at the dip, it will rise again and set aim for $500.
Only a handful of analysts and price predictions websites are, however, confident that it will reach $500 within the next 10 years. The rest consider this to be a longer-term goal. Among the reasons that they consider to be impediments to EOS reaching the target price in the foreseeable future include its unlimited maximum token supply, controversial past, and cutthroat competition from newer and more innovative Ethereum killers.
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