After days of bearish momentum in the crypto market, EOS is getting lifted by bulls as it rises to $13.07 price. As the launch date of its MainNet nears, experts are expecting EOS Price to rise to great levels.
EOS registering greens
In the past 24 hours, EOS took a dip and went down at $12.32, and then experienced a bit green by reaching $13.18. Before coming on to the current $13.06, EOS went through a few more ups and downs. Ranking at 5th position, EOS has a market cap of over $11 billion.
Cryptocurrency market is currently ridden with a negative trend that is expected by analysts to follow for some time still. However, as the Mainnet launch of EOS is getting closer, it is trying to shake off its bear and anticipating the bulls to come charging.
The MainNet launch of EOS is scheduled for quarter 2 which according to an online countdown is expected to to be on June 2nd at 22:59:59 UTC.
For quite a time, EOS has been performing really well in the market, leaving behind even the best of cryptos. Despite the drop down, EOS was still looking promising with an impressive 24-hour trading volume of more than $1 billion and now that its price is again gaining upward momentum, good things can be expected.
This MainNet is being planned to be the most powerful platform for DApps. There has been a lot of excitement surrounding its upcoming MainNet launch which has played a major role in driving the prices of EOS.
MainNet to skyrocket EOS price
Mati Greenspan, a senior analyst at eToro stated:
“Crypto enthusiasts from all over the globe are extremely excited about the launch of EOS main-net.”
He further comments:
“This will be a groundbreaking event, the likes of which this industry has yet to see. Alternative investors are snapping up as many coins as they can get their hands on.”
He didn’t simply end here, drawing a comparison with the top cryptos, he said:
“If Bitcoin is digital gold and Ethereum is digital oil, EOS has been likened to digital real estate.”
However, MainNet is not the sole driving force behind EOS price as recently a major email platform, ZimbraX of Synacor that provides services to over 500 million users announced its plans to move to the EOSIO platform.
Also, the NASDAQ powered Dx.Exchange that will be launched in June will be reportedly listing EOS. Moreover, we might even see a Coinbase listing in the future in the wake of the pressure from its rival Robinhood.
A potential reason for the fall of EOS could be the allegations and raiding of South Korea’s biggest crypto exchange Upbit, which had the largest EOS trading volume. Industry experts and advisors expect EOS to hit by a bull momentum once its MainNet launches as it will be monumental for the success of EOS cryptocurrency.
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I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.