2021 has been one of the most active years for the crypto world. So much has happened throughout the year. The general crypto market had been on an upward trajectory running from the second quarter of 2020. By mid-2021, almost all the cryptos were at an all-time high value with the crypto market at the highest point.
Bitcoin hit the highest levels of $65,000, and EOS was not left out. It had grown from the lows of around $2 to hit $7 by this time. Even though it might seem a low value compared to the other bigger coins, this was an over 300% value increase.
The only concern though is the decline of EOS on the value among other coins. By November 2021, EOS was among the top 15 cryptocurrencies by market cap. This is different from now when it is ranked 28th while trading at $5.32. It means EOS has performed relatively poorly compared to the other tokens like Dogecoin, XRP and Tether.
However, given the crypto movements, you might still be wondering is EOS a good investment? And what are the EOS price predictions? Check out the information below to guide your decision.
What is EOS?
EOS is a third-generation crypto that looks to solve the existing lack of speed, flexibility, scalability and high cost of transactions that Bitcoin and Ethereum face. Like Ethereum, it runs smart contracts that support the creation of decentralised applications (Dapps) on the platform. It’s blockchain protocol is designed to provide a solution for the processing and hardware concerns within the centralized application creation.
The EOS whitepaper was first released in 2017, followed by an Initial Coin Offering (ICO) that lasted for a whole year. It is the process that broke the record for the longest ever ICO. The process collected $4.1B, another record on the most ever collected from an ICO.
EOS comes with a highly functional protocol. The technology was designed to revolutionize the Dapps creation which would also impact various industries. It is for this reason that most people expected it to be one of the top cryptocurrencies. Some even referred to it as the Ethereum-slayer.
EOS price prediction 2021
After the earlier massive crypto market movement, it might seem a ridiculous task to price EOS crypto for the rest of the year. However, it is not so far-fetched.
The crypto world is like any other market that depends on supply and demand. Various factors like news and trends affect demand hence the value. Therefore, with the expected trends and possible outcomes, we can speculate on an EOS crypto prediction for 2021.
Before the current market run, most analysts had predicted a bearish run for EOS. However, this has currently changed with most analysts giving the coin a positive run for the rest of the year. At the same time, some analysts still believe it might go down.
From the various data with different analysts, it is safe to say EOS price prediction for 2021 is around $6 by the end of the year. This is due to the crypto market correcting and Ethereum retaining its smart contract market dominance after the launch of Ethereum 2.0.
