The Rise of EOS, the Fall of ETH

Understanding various updations regarding the EOS blockchain.

Why is EOS so popular these days?

The EOS blockchain platform is the only one of its kind, in the cryptocurrency domain, which is giving a head to head competition with the Ethereum Blockchain. The fifth largest cryptocurrency is, in many ways better than its predecessor Ethereum. Achieving decentralization is nothing but giving power to every individual around the world, to develop his or her custom decentralized application, for which the EOS blockchain platform suits correctly. The EOS blockchain platform seamlessly scales for the vast customer base, whereas, congestions were observed, in case of the Ethereum network. Therefore, the EOS blockchain platform has been in the LimeLight for the investors all over the world.

 

The generalized price drop of EOS

Keeping up with the fluctuations and updates in the Crypto domain is highly challenging for the investors. Therefore, the article covers significant achievements and price fluctuations from the past few months. The EOS is the native cryptocurrency of the blockchain platform EOS.IO, which is currently trading around $5.58. However, the EOS coins price had experienced a significant drop since the beginning of September 2018, which was then hovering around $7.71. Moving on from which, the EOS coin drastically broke the support levels at $6.5 and $6. But the EOS coin managed to stay above the $5 level for that particular week.

It was self-evident that EOS outperforms the Ethereum platform, from the fact that many Crypto blockchain platforms, chose EOS over the Ethereum network for the development of the Blockchain protocols. The EOS Blockchain protocol left behind Litecoin and Stellar, then eventually became the fifth largest cryptocurrency by market capitalization.  

 

Let’s go through detailed price analysis of EOS from the past few months.

May

The EOS price significantly fell from $22.89 to $16.94, during the initial week of May. The crypto coin was then consolidated for a week, but then on May 11, the EOS price broke its support level of around $16.86 and fell almost to $14.18. The lowest traded price of EOS for that particular month was on 24th and the price was $10.98. $19.07 was the price of EOS for that particular month, on 3rd.

 

June

The price of the EOS coin consistently kept falling since then, and on June 2nd the price was recorded to be the highest for that particular month, trading around $15. Also on June 9th, the price broke past its support levels and reached $10 levels from approximately $14.54. The lowest price for this particular month was recorded on 24th June, and the price is $7.35.

 

July

$9.13 was the highest price of the EOS coin for the respective month and was recorded on 3rd of July. Even this particular month marked a steep descent in the price of EOS, as the lowest level was recorded on July 12, with the price being $6.74.  

 

August

The cryptocurrency coin, even during this month experienced a bearish momentum and fell from almost $7.25, which was also the all-time high of that respective month experienced on 4th of August. In particular, on August 8, the prices steeply fell from $7 to $5.5.

 

September

The highest price for September 2018 was on 2nd, $6.68 is the price of the coin. However, on September 4th the coin broke its strong support of $6.4. Since then, the cryptocurrency coin has been hovering around the $5 levels with slight fluctuations in its prices, until now.

 

Further significant developments in the EOS Blockchain platform

Also, various Global hackathons being conducted by the community platform has been an upper hand, in keeping EOS in the Crypto news for quite a long time. most recently the hackathon was conducted in London on 23rd September 2018, which proved to be a great success for the development of various Blockchain platforms for the developers. Various incentives where being offered at the hackathon where the first prize, which was a cash price of about US$100,000, was awarded to the developers who had utilized the EOS blockchain platform, to prevent Malware attacks.

 

Future roadmap of EOS

The keynote interaction by some of the key figures of the Blockchain platform like Dan Larimer proved to be a great excitement for all the Crypto enthusiast. The next stop for the series of hackathons was a virtual competition, conducted for the Crypto members, in Africa on 3rd October 2018. This competition would lead the winners directly into the grand finale of the Blockchain hackathon, which is to be conducted on 7th December 2018, at Cape Town.

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