EOS is not only regarded as one of the best blockchains for building decentralized applications, it is one of the major altcoins as well as one of the top 50 largest digital assets by market capitalization.
This article takes an overview of EOS, its core areas of business, and - most importantly for prospective investors - the pros and cons which can help answer the question: Should You Buy EOS?
EOS is one of the oldest cryptocurrencies which serves as a native token of a blockchain platform for decentralized applications (DAPPS). Unfortunately, the digital asset has not been able to test a fraction of the current trading price of parent crypto Bitcoin.
Altcoins were developed as a result of the success of BTC. In 2021, the majority of altcoins such as Ether (ETH), Cardano (ADA), Binance Coin (BNB), Internet Computer (ICP), and Dogecoin (DOGE) all reached new all-time highs. On the other hand, EOS has made substantial gains but has failed to retest or surpass its all-time high price of $22.89 recorded on 29th April 2018.
EOS plays the same role as BNB, ETH, ICP, ADA, and TRX in primarily settling transactions through the decentralized applications (DAPPS) running on their blockchains.
Since 2021, there have been whispers that Grayscale wants to include EOS in its ever-growing list of digital trusts after Bitcoin, Ethereum, and Stellar Trusts among others.
Aside from this, there have been several partnerships and upgrades to the EOSIO network that have resulted in gains for the cryptocurrency.
This is the primary reason why the crypto trading asset has returned 101% since its launch. Although this presents a great opportunity for you as a trader or investor, the future of digital currencies is still unknown.
Will EOS become a millionaire-maker for investors? Is EOS a good investment in 2022 and beyond? Will EOS continue to soar? Will EOS double in price due to DeFi in the future?
Most importantly, for novice traders and investors - what are the pros and cons which can help answer the question; should I buy EOS?
- EOS at a Glance
- The PROS of Buying EOS
- The CONS of Buying EOS
- EOS Price Predictions
- How to Invest in EOS
- The Bottom Line - Should You Buy EOS
EOS At A Glance
This section of the article gives an overview of EOS, the beginnings of the digital asset, the founders behind the creation, and the purpose for which it was created? It would also take an extensive look at the price performance of the cryptocurrency from 2017 to date.
The idea behind the creation of EOS dates back to 2017 when a whitepaper was written. The authors of the whitepaper pointed out that their primary objective is to formally present a decentralized application development platform that could overcome the scalability problem associated with the use of blockchain technology and cryptocurrency.
The platform proposed could scale thousands of transactions per second. Additionally, EOSIO was intended to become the top-ranking Operation System (OS) for decentralized applications.
EOS took a different approach to the norms of the crypto finance space market. It embarked on a record-breaking initial coin offering (ICO) that lasted a year. It started on 26th June 2017. Like several crypto projects, EOS started on the Ethereum blockchain as an ERC 20 token. One billion tokens were distributed during the launch and more than $4 billion was raised. The funds helped the developers complete the creation of the EOS blockchain and the entire ecosystem that we have become accustomed to over the last three years.
The primary company behind the continuous development of the blockchain and cryptocurrency is Block.one. EOS was released to the general public on 1st June 2018. Software programmer Daniel Larimer and serial entrepreneur Brendan Blumer are the founders of EOS.
What is EOS?
The EOS ecosystem has two main elements and they are EOSIO and EOS tokens. People normally refer to the blockchain and cryptocurrency as EOS. The primary difference is that EOSIO is the blockchain platform that facilitates the creation of decentralized applications (DAPPS) and EOS is the novel token of EOSIO. EOSIO is just like the operating system of your personal computer. It sees the control and management of the blockchain network of EOS. Utilizing the features of blockchain architecture, EOSIO facilitates the horizontal and scaling of DAPPS.
EOS coin is the cryptocurrency on the EOS network. The tokens also place eligibility on the heads of developers and help them use resources and build DAPPS within the network.
After starting on Ethereum which employed the longstanding SHA-256 proof of work algorithm to scale transactions, increased usage brought huge congestion that led to high gas fees for EOS users. As a result, the developers opted for a delegated proof-of-stake (DPOS) algorithm. Under this, validation and verification of transactions are left to 21 entities that lead the chain and not the entire public. Aside from the functions earlier stated, they also resolve disputes and contribute towards making upgrades to the EOSIO network.
The ticker symbol EOS is used in trading on cryptocurrency exchanges and brokerages globally.
Read More: What is EOS? A Beginner’s Guide
How Many EOS is in Supply?
At the time of writing, 988,475,939.25 EOS are circulating on the market from a total supply of 1,053,718,365 EOS.
EOS Price Performance in 2017
EOS appeared on cryptocurrency exchanges and brokerages on 27th June 2017. The crypto trading asset opened and closed the day at $0.9327 and recorded a trading volume of $58.810. Since that day, pioneer traders and investors, and others who joined the EOS train along the way have experienced crypto booms in certain years and bearish recessions in others.
With increasing trade volumes that signal investor interest in EOS, the digital asset soared to $7.64 on 31st December 2017. In the process, EOS returned an impressive 719.217%. Despite the pullback from China’s announcement of a crypto ban in September 2017, EOS followed Bitcoin to return huge gains for traders and investors.
EOS Price Performance 2018
EOS started 2018 at $8.3. EOS reached its all-time high of $22.89 on 29th April 2018.
During this period, there was speculation of a major crackdown on cryptocurrencies by other countries after China issued a ban on digital assets in 2017. The year 2018 was vastly a difficult year for cryptocurrencies after the bubble burst for parent crypto BTC. Unfortunately, EOS followed the price patterns of BTC. The cryptocurrency closed the 2nd quarter of the year at $8.13. EOS traded for a coin at $5.74 to end September and by the end of the year had a trading price of $2.73. In a bearish year that saw a plummeting in the price of all digital assets, EOS shed 67.1084% of its price. It impacted negatively on the market capitalization of the cryptocurrency.
EOS Price Performance in 2019
Billed as the year of recovery, there were high hopes that EOS will command a relatively higher price since it has settled on its ecosystem (EOSIO) that was processing more transactions per second. EOS opened and closed on 1st January 2019 at $2.96 and recorded a trading volume of $13.02 million on the day.
With partnerships being formed and the foundation of DAPPS being laid, EOS increased slightly to $4.25 by the end of March. By the close of June, EOS traded for a coin at $6.0490 and plunged to $2.9530 on 30th September. On 31st December, EOS had a trading price of $2.6050 and in the process shed 11.9932% of its price.
EOS Price Performance in 2020
EOS unlike Bitcoin and Ether could not take advantage of the renewed interest in crypto by sophisticated and unsophisticated traders and investors. EOS commanded a trading volume of $3.26 million and closed on 1st January 2020 at $2.4660. EOS traded for a coin at $2.2670 on the last day of March. In the peak periods of March and April, EOS was able to maintain its price and closed June at $2.3790.
EOS closed September and December at trading prices of $2.5480 and $2.6400 respectively. For the first time since the end of 2017, EOS returned 7.05596% for investors.
EOS Price Performance in 2021
Popularly touted by several crypto analysts and experts as the year of DeFi, most cryptocurrencies have reached new all-time highs. EOS opened on 1st January 2021 at $2.60 and closed at $2.64. A series of announcements on partnerships that leads to the creation of a decentralized exchange and several rewards saw an increase in the price of the coin to $4.81 by the close of March. EOS reached a year high of $14.88 on 12th May 2021 and keeps recording billions of trade volumes daily. EOS felt to $3.26 in July. From August to September the price fluctuated between $4 and $6 but then dropped down to end the year at $3.
Several analysts and experts have projected EOS to reach new price milestones by the end of 2022. With that said, what are the pros and cons of investing in EOS in the future?
Don't Miss: EOS Price Prediction Forecast
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Pros Of Buying EOS
What are the benefits of investing in EOS?
Some crypto experts and analysts project EOS to have a high trading price in the future. What are the drivers behind such projections? Let us take a look at some of the pros which make EOS an asset worth investing in.
✅ EOS is highly undervalued
EOS has one of the best platforms for the creation of decentralized applications. EOS is the second most popular dApp platform after Ethereum.
According to State of the DApps, there are 4,056 dApps currently operational of which Ethereum hosts 2,962 while EOS has 332.
When you take a look at cryptocurrencies that are backed by smart contract chains such as Ether (ETH), Polkadot (DOT), and Chainlink (LINK), you could see that they command prices that are relatively higher than EOS. After close to 4 years of trading experience, EOS should have had an all-time high of at least $100.
With new partnerships, upgrades to the network, and positive crypto market sentiment, EOS could command 5 to 10 times its current trading price. Investing in EOS could see you walk away with huge returns at the end of 2022 and beyond.
Check Out: Could EOS Be A Millionaire-Maker Coin?
✅ EOS is easily accessible
When Block.one raised $4 billion on 31st May 2018, it eclipsed the world’s biggest initial public offerings (IPO) at the time in 2018. The amount of money raised was more than double the next biggest offering of a blockchain and cryptocurrency project. Having a whopping sum as seed money means that several players in the technology space believed in the project.
This is the main reason why EOS can be found on cryptocurrency exchanges such as eToro, Binance, Coinbase, Crypto.com, Huobi Global and more. These exchanges have millions of customers. They are among the top cryptocurrency exchanges that are authentic and credible. Listing EOS earlier on in its trading journey must communicate to you the legitimacy and potential of the project. Buying EOS at such a relatively lower price could see you walk away with at least double of your investments in the future due to its mileage.
✅ EOS Has a Finite Supply
Based on his argument on the scarcity principle, James Chen of Investopedia pointed out that, “The price of a good, which has low supply and high demand, rises to meet the expected demand.”
At the time of writing, 988,475,939.25 EOS is circulating on the market. This is 93.8% of the total supply.
With the scarcity principle as the main thesis to conclude, EOS is projected to increase in price if all other things stay equal. Currently, most altcoins aside from Litecoin (LTC) and Dash (DASH) are almost infinite. A small number of coins are being created annually to meet increasing demand and pour more liquidity into the cryptocurrency. If Brendan Blumer does not follow Jackson Palmer and Billy Markus of Dogecoin and leaves EOS alone at its current total supply, demand and supply are going to see EOS rally to all-time highs. This will reflect the unique features of its issuing authority and market capitalization as well.
✅ Announcement of a Cryptocurrency Exchange to Compete with Binance
On 11th May 2021, Block.one announced that it has created a new subsidiary called Bullish Global. Block.one provided Bullish Global with cash and digital assets that total more than $10 billion in funding.
Bullish Global is going to serve as an independent entity under Block.one. A blockchain-based cryptocurrency exchange called Bullish would be launched in the months leading up to the end of the year.
With great connections in the technology finance space, institutions such as Galaxy Digital & Nomura as well as prominent investors such as Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, Mike Novogratz and Peter Thiel took part in providing funds for this latest venture.
EOS opened on 11th May at $9.27, reached a day high of $14.45, and later closed at a trading price of $14.37. In the process, EOS gained 55.8792% in a matter of hours. Since Bullish would be running on the EOSIO network, EOS is going to see huge liquidity since it’s the novel token that powers all activities in the ecosystem.
✅ Staking Rewards Could Increase More Holders of EOS
Over the last month, the most recent developments on the EOSIO network are related to the allocation of resources and staking rewards. Such an upgrade is extremely crucial to drawing more investors into EOS. This adds one more reward to the automatic reward of seeing EOS soar to new price highs in the future.
✅ EOS PowerUp Model Upgrade
The PowerUp Model allows users of the EOSIO network to pay a fee to power their accounts for 24 hours. This helps them transact on the network within the period instead of paying a fee for every transaction. Aside from this, EOS token holders can earn yields by depositing unused EOS tokens to receive a percentage of all the power-up fees that are generated by the network. This could draw more people away from the Ethereum network as they look forward to avoiding network congestion and high gas fees associated with the platform. In the long run, having more people on the EOSIO network bodes well for its novel token. More activity usually results in an increase in price.
The Cons Of Buying EOS
What are the negatives of investing in EOS?
Considering the positives of an asset without its negatives has led numerous traders and investors to see huge losses. There are several factors which you need to consider that will help you decide if EOS is a good investment or not. Knowing the cons associated with EOS will help you make essential decisions.
❌ Faces Infinite Competition
EOS has an issuing authority EOSIO that prioritizes upgrading its network for the creation of decentralized applications (DAPPS). Unfortunately, Vitalik Buterin made smart contracts public.
As a result, several developers and users of decentralized finance (DeFi) opt for the services of Ethereum rather than other smart contract chains.
What’s more, other crypto projects in the form of TRON, Cardano, Polkadot, and Internet Computer have the same aim of providing upgrades to the possibilities of Ethereum DAPPS so that they can control the market.
Charles Hoskinson has laid out milestones that are being accomplished monthly. If all the milestones are completed and Cardano reaches full functionality that can see it scale approximately 1 million transactions through innovative DAPPS, EOS will be hit hard. This is because several developers may opt for Cardano. Since EOS powers activities on the network, activity on the cryptocurrency is going to reduce. A reduction will impact transaction counts, daily trading volume, and market capitalization of the digital asset.
❌ EOS follows price patterns of Bitcoin
It is a known fact that all cryptocurrencies follow the patterns of BTC since it’s the parent digital asset.
When Bitcoin rallied in April and May 2021 most of the cryptocurrencies hit their all-time highs. The following crash of BTC price led to a drop in the prices of most of the altcoins.
Understandably, BTC controls the whole market. But it would be great if the team behind EOS forges great partnerships and integrations that will make the digital asset a bit independent in terms of what’s happening to Bitcoin.
With such news and price patterns, you have to keep an eye on your investments so as not to make irrecoverable losses in the future.
❌ EOS Has Lost an Integral Part of Its Foundation
On 10th January 2021, co-founder and the brain behind EOS, Daniel Larimer departed the project. Daniel Larimer was the Chief Technology Officer (CTO). He was well-vexed in the centralized and decentralized technology space. Co-founder and serial entrepreneur Brendan Blumer is a business-minded person who does not understand the independent economy cryptography seems to achieve. This could be the primary reason why partnerships formed are only for the direct growth of the EOSIO network and not the cryptocurrency. With Daniel Larimer gone, key EOS fan Colin Talks Crypto has opined that he does not see any future ahead for the digital asset. As a result, he has sold his stake in BTC and stopped most of the promotion of EOS on his YouTube channel. There are more than 600 decentralized applications on EOSIO. Unfortunately, most of them have not been able to surpass Ethereum in the number of users or transaction volume. With others aiming to improve on the smart contracts that Ether powers and become Ethereum Killers, EOSIO may just be known for being able to obtain huge seed money during its ICO and never reach its potential in the blockchain space.
❌ Has Failed to Impress Blockchain Enthusiasts
After the launch of EOSIO and EOS on the back of a successful ICO, several representatives of EOS pointed out that it will support more efficient operations for decentralized applications than existing platforms such as Ethereum. Other blockchain experts concluded that EOS could bring on much great adoption of cryptocurrency-related technology. Unfortunately, Ethereum still controls DeFi and the best performing DAPPS in the lending, payment, yield aggregation, and exchange categories. EOS has helped with the adoption of cryptocurrency-related technology due to its relatively faster scaling times and elimination of transaction costs. But it has failed to live up to the expectations of cryptocurrency traders who decided to invest their life savings into the asset. With more than 4 years of trading experience, the all-time high of EOS ($22.89) is a fraction of what Ether and Binance Coin (BNB) trade for.
At a point in time, to impress its fans, the team behind EOS contended that they had the most active blockchain. Subsequent research disputed the claims and pressed the team to do more to help increase the price of the crypto trading asset through increased investor interest.
Failure to build upon their promises has not helped traders and investors in the short and long term. No one knows if EOS will reach the heights it was predicted to due to the brainchild of the project departing and an uncertain future ahead of the whole project.
Editor's Note - we can understand that the market has seen huge interest from sophisticated and unsophisticated investors. As a result, people are investing their life savings into cryptocurrencies as a result of the fear of missing out (FOMO) on gains. Trading and investing in cryptocurrency is highly risky due to the volatility of the assets. Unfavourable news content can see assets plummet within a short time. Spread your investments across several assets such as stocks, bonds, metals, and commodities. Diversify your portfolio and invest money you are prepared to write off as bad debt.
EOS Price Prediction: What Are Analysts About the Future of EOS?
Several analysts and experts have made bullish forecasts about EOS. Others have been conservative about the future of cryptocurrency. Let us take a look at some of the projections that answer questions such as EOS Price Prediction 2022, EOS Price Prediction 2023, and EOS Price Prediction 2024. This will help you determine if EOS is a good investment and whether you should invest in EOS.
All Forecast thinks EOS will have a maximum price of $5.25 in December 2022 and increase substantially to trade for a maximum price of $10.60 by the end of 2023.
According to Libertex, EOS could trade for a coin at a maximum price of $3.7 by the year’s end of 2022. The finance portal estimates EOS to have a maximum price of $4.3 in December 2023 depending on BTCs performance and how strong EOS is in the decentralized finance space.
According to Coin Price Forecast, EOS is a great short-term investment and could have trading prices of $3.2 by the end of 2022 and $3.65 (2023). The experts further estimate EOS as a good long-term investment since it could command prices of $3.87 (2024), $4.86 (2025), and $5.83 by the end of 2026. Other prices EOS could trade for in the longer term are $6.69 (2027), $7.18 (2028), $7.23 (2029), $7.44 (2031) and $7.58 (2033).
Crypto Ground foresees prices of $3.7 and $11.3 in 2023 and 2025 respectively. The crypto news and prediction portal could command a price of $14.9 in 2026.
According to Digital Coin Price, EOS could improve upon its current trading price and finish 2022 at $3.10. The experts forecast EOS to command trading prices of $3.12 by the end of 2023 and $4.74 by the year’s end of 2025. The accurate crypto market analysis and data portal projects EOS to trade for a coin at $7.16 (2027), and $9.81 (2030).
The Economy Forecast Agency, known as Long Forecast, expects EOS to have a price of $2.51 by the end of 2023. EOS could command prices of $2.66 (2024), and $3.24 on the last day of 2025.
What Will EOS Be Worth By 2030?
According to analysts at Coin Price Forecast, EOS could have a trading price of $6.48 by June and increase substantially to $6.80 to close out 2030.
Don't Miss: EOS Price Predictions
How To Invest In EOS
Several exchanges and brokerages enlist EOS. With that said, the trading of cryptocurrencies has been mired by controversies this year with hackers taken off with millions of dollars. As an e-learning organization, we’d like to recommend eToro as the exchange of choice for your trading and investing in EOS. eToro is extremely authentic and has served millions of customers.
Kindly follow the steps below and buy your first EOS coins.
The FIRST STEP is to SIGN UP. With an eye on legal details, provide your full name, email & residential address as well as your contact number.
The SECOND STEP is to VERIFY YOUR ACCOUNT. As part of the Knowing Your Customer (KYC) phase of account verification for all multi-asset exchanges and brokerages, certain documents will be requested. You will be made to provide government-issued identification cards that bear your signature and confirm the details earlier input in the signup process. If more information is needed, eToro will request internet bills, bank, or credit card statements to confirm your residential address. This normally takes less than 24 hours.
The THIRD STEP is to DEPOSIT FUNDS. Without fiat currency, EUR, GBP, or USD, you wouldn’t be able to buy your EOS coins. Upload an amount of money that fits your budget since cryptocurrency trading and investing is highly risky.
The LAST STEP is to NAVIGATE to the EOS PAGE. On this page, you can buy some EOS coins that meet your investment goals. It would be processed and added to your account.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottom Line - Should You Buy EOS
EOS is worth your money in terms of investments. Several analysts and experts have projected price milestones that will result in huge returns for traders and investors. EOS and other altcoins follow the price patterns of BTC in bullish days and bearish seasons. You must consider risk and reward before investing in EOS. Do the potential rewards of investing in EOS outweigh the possible consequences of the risks?
EOS certainly has some risks as co-founder and software programmer Daniel Larimer left the project in the early days of 2021. Aside from this, a major fan and holder of EOS, Colin Talks Crypto has sold his stake in the currency and has stopped promoting the coins to thousands of his YouTube subscribers. Moreover, funds accrued from its initial coin offering have not been invested in seeing EOS integrated across millions of merchants.
With that said, EOS has a substantial transaction count in the millions, is in the process of launching a cryptocurrency exchange to rival Binance, it's easily accessible and currently provides a rewards program that will see thousands of users of EOS.
At a price below $3, the cryptocurrency is in the trading and investing range of novice investors. For highly sophisticated traders who are experienced, the price of EOS provides an opportunity to add another digital asset to their portfolio.
So, should I buy EOS? With the partnerships, upgrades, and future adoptions of EOSIO which will see more liquidity poured into the cryptocurrency, EOS is a buy. But this decision cannot be taken based on hearsay or recommendation. Thorough independent research on your part will embolden your decision and bring you huge gains.
eToro – Best Platform To Buy EOS
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Does EOS Have a Future?
EOS does have a future. Its parent company Block.one has created a new subsidiary called Bullish Global. It launched a cryptocurrency exchange in 2021. Normally, novel tokens of networks are used in facilitating transactions on cryptocurrency exchanges. With EOS serving as the primary token, thousands and millions of users could flaunt their cryptocurrency and more liquidity would be poured into the asset. In the long term, this will cause a spike in the price of the currency and lead to huge returns for investors.
Can EOS Reach $100?
Unfortunately, there are no forecasts that expect EOS to trade for more than $100 in the near future.
Can EOS Reach $1,000?
EOS could reach $1,000 or more in the future. It has a unique technology that is flexible and secure and could help several developers create awesome DAPPS that will benefit users. Unfortunately, there are no analysts and experts with $1,000 price projections. They have been a bit conservative due to the thousands of coins on the market which provide similar functions. The highest price milestone EOS is yet to test is $10. From then, it may increase substantially in the future.