EOS coin is making big breakthroughs as the crypto acquires the 5th position in top listed cryptos of present times. Owing to the trends observed in market deviations in its pricing, it is nonetheless aiming high.
Cryptocurrency market has also witnessed an increase of $10 billion amongst which, EOS with its high rising stats is acting as the star performer. Other cryptos including Bitcoin, Ripple, EOS, Stellar, and Tron have also observed surges presently owing to the market’s overall rise.
Will EOS coin be able to sustain this surge?
Maintaining an average of 16.7% rise, it is proving to be the fastest racer in the race by overpowering other top 10 rated colleagues in stats of surges. Also, it managed to overtake ETH in mere 24 hrs time that nonetheless points out to its hidden potentials and possibilities which are deemed to be spreading their reaches.
The surge in prices can be largely attributed to the EOSIO 1.0’s launch.
But there’s more to the story, the high growth observed by this cryptocurrency is also masking its downturns that are clinging enough and ones to be wary of. One of the key point to note is that
“it’s been two days since the EOS’ mainnet launch, and the EOS price has still not attained a stabilized and one-way position. “
In the wake of Block.One’s recent move, drawbacks managed to seep into the scenario. While, token balances held in ERC-20 wallets were locked, and exchanges dealt with frozen deposits and withdrawals, the situation came in handy as the exchanges continued to allow limited EOS trading.
Is EOS recent bull rally a trap?
As per the data provided by CoinGecko, the EOS price has witnessed a lowly 37% dip from its all-time high in last 24 hrs. But at the same time, an overall rise of 16.7% cannot be overlooked in wake of the sharp downturns it goes in a single day. The sharp decline throughout the day cannot be ignored with respect to the overall patterns, so witnessed.
“It is witnessing fluctuations on a wide scale, that is making the market much skeptical of the trends it seeks to follow in future.”
The recent grading of EOS as A- in investment prospects, that indeed accounts for the highest amongst Weiss ratings and the overall B, leaving behind giants like Bitcoin and Ethereum is indicative of its celebrated leap forward.
The viewpoints are bound to differ. Owing to the EOS’s zenith position in Weiss ratings, analysts’ beliefs and general market instincts, one cannot deny the investment prospects that it seeks to offer in the present scenario. And its forward leap cannot be undermined all in one go.
The skeptical situation faced by the market is now under a big question, as to will this rising trend in EOS coin be sustainable in future? Or, will it be a short-lived affair with no substantial gains in future?