Last week, EOS was priced at $0.56, experiencing a 6.69% increase over the past week and currently resting at $0.6. In fact, in the last 24 hours, EOS has pumped by 0.94%. Although there is a minor bearish sentiment in the crypto market, the long-term outlook remains optimistic, with projections suggesting EOS may reach $1.70 by 2024.
As of writing this article, the total circulating supply of EOS stands at $1,122,642,790.55, maintaining a market cap of $681,291,901.
EOS Overview
What is EOS?
EOS is a decentralised blockchain platform engineered for creating, hosting, and executing decentralised applications (dApps). Tailored to empower developers, EOS provides an operating system-like environment with integrated tools and services, facilitating the development of scalable and efficient dApps.
The platform supports various dApps, from straightforward games and social media applications to intricate financial and enterprise solutions, by offering developers tools, libraries, and frameworks for creating and deploying applications on the blockchain.
Here are some unique features of EOS:
Scalability: EOS is architected to handle up to 1 million transactions per second, employing parallel processing and asynchronous communication techniques. This is advantageous for applications requiring high throughput and low latency, such as online games or social networks.
Flexibility: EOS offers a customisable environment for dApps development, allowing developers to craft bespoke smart contracts deployable through the platform’s native WebAssembly (WASM) engine. This flexibility significantly encourages diverse applications across various industries.
Upgradability: EOS smart contracts can be easily upgraded without disrupting the network. This feature enables developers to introduce new features, resolve issues, and optimise their dApps without a hard fork or to impact other applications.
Interoperability: EOS is designed to support cross-chain communication, enabling interaction between blockchains. This fosters seamless value and data transfer across platforms, promoting a more interconnected and interoperable blockchain ecosystem.
The EOS ecosystem comprises two vital components:
EOSIO software
Functioning as the operating system for the EOS blockchain network, EOSIO software provides a secure foundation for the development and scaling of dApps. Its use of blockchain architecture and programmable smart contracts ensures account security, custody, permissions, and adaptability to regulatory changes.
EOS token
Serving as the native cryptocurrency for the EOS network, the EOS token is the primary medium of exchange and incentivization within the ecosystem. As of April 2023, it has a total supply of 1.09 billion with a planned annual increase of 5%.
Critical applications of the EOS token include:
Resource Allocation: Users and developers can access platform resources such as bandwidth, storage, and processing power by staking EOS tokens. This model facilitates seamless interactions with dApps without incurring transaction fees, encouraging efficient use of network resources.
Governance: EOS blockchain incorporates a built-in governance system that allows token holders to participate in decision-making processes.
Staking: Users can stake EOS tokens to support specific dAppss or secure network resources for personal use, contributing to platform stability and ensuring fair resource distribution. Tokens can be unstaked when no longer needed or for transfer sale.
Incentivisation: Block producers receive EOS tokens as rewards for validating transactions and securing the network, incentivising them to uphold the network’s integrity and ensure smooth operation.
EOS’s Journey
EOS, co-founded by Dan Larimer and Brendan Blumer, was conceived as a platform offering developers efficient tools for the swift and secure creation and deployment of dApps. The duo established Block.One in 2017, a private company that was responsible for crafting the EOSIO protocol.
Dan Larimer, renowned contributor of BitShares and Steem, holds the position of Chief Technology Officer at Block.One and is the principal architect behind the EOSIO software. He is also credited with devising the delegated proof-of-stake (DPoS) consensus mechanism embedded in the EOS blockchain.
The EOS whitepaper unveiled on GitHub in May 2017 set the foundation for the project. To fund this vision, EOS initiated a year-long Initial Coin Offering (ICO) in June 2017, successfully raising an impressive $4.1 billion by selling 1 billion EOS tokens.
Following rigorous testing and community endorsement, the EOS mainnet was launched in June 2018, providing developers with a robust platform to construct and deploy dApps.
Critical milestones in EOS’s journey include:
- In April 2019, a community-developed agreement replaced Block. One’s constitution after receiving majority approval from block producers.
- Yves La Rose established the EOS Network Foundation (ENF) in September 2021, a community-driven non-profit organisation focused on identifying investment opportunities, providing seed funding, and promoting collaboration in Web3 innovation.
- In November 2022, the ENF proposed a $100 million ecosystem fund managed by EOS Network Ventures (ENV).
- Coinbase added EOS trading in May 2019.
- The EOSIO stack exchange proposal was introduced in March 2018.
- In March 2023, the ENF announced a partnership with Multichain.
- April 2023 marked the live launch of EOS’ Ethereum Virtual Machine (EVM) mainnet.
EOS Price Analysis
Examining the weekly chart, EOS has sustained a prevailing bearish trend. While there were two bullish upswings throughout the studied period, they lacked the strength to alter the overarching bearish trajectory. As of their current moment, the trading price is recorded at $1.217.
EOS Weekly Chart
Since April 2022, EOS has encountered a descending trend, with $1.284 proving to be a resistance level tested thrice. The $0.867 level served as unwavering support throughout the analysed duration, and $1.144 emerged as a notable support level, tested thrice, including the current retest.
The market exhibited a bearish dominance, yet a northward movement was observed from August to September 2022. Within this period, $1.743 stood at a resistance level, but the price eventually broke into a further downtrend.
Another upward shift occurred in February 2023, albeit less intense than the preceding one. The overall bearish sentiment persisted in the EOS market as the price struggled to sustain bullish momentum.
Despite short-lived increases in trading volume during upward movements, these spikes did not translate into a continuous bullish trend. A significant volume drop coincided with the $0.867 support level testing.
The Relative Strength Index (RSI) remained below the neutral 50 line throughout this timeframe, indicating a lack of buying momentum. Notably, during August-September 2022, a regular bearish divergence emerged, with the RSI forming a lower high while the price made a higher high. This divergence hinted at an impending reversal to bearish market sentiment.
However, during the second upward movement in February 2023, the RSI marginally surpassed the 50 line, suggesting a slight shift in momentum towards the bulls.
Analysing the Exponential Moving Averages (EMA) revealed the sellers’ dominance, as the 50 EMA consistently remained above the 20 EMA throughout the study period. Despite the price briefly surpassing the 20 EMA during the upward movement, it failed to sustain this momentum initially, leading to subsequent declines.
EOS witnessed a dynamic 2021, and for a more accessible understanding of its potential trajectory, our EOS price predictions are categorised into short-term and long-term expectations. As of the time of writing, EOS displayed a trading volume of $110,731,279, marking a 3.61% increase in the past 30 days.
In the short term, our analysis forecasts an average EOS price of $1.11 for December 2023, with the highest potential price reaching $1.19. Looking further ahead, the long-term prediction for April 2024 anticipates an average EOS price of $1.52, with the highest possible price for April 2024 reaching $1.62.
EOS’s Short-Term Price Prediction
| Date | Avg Price | Lowest Price | Highest Price |
| 4 Oct 2023 | $0.83 | $0.77 | $0.89 |
| 5 Oct 2023 | $0.84 | $0.78 | $0.89 |
| 6 Oct 2023 | $0.84 | $0.79 | $0.9 |
| 7 Oct 2023 | $0.86 | $0.8 | $0.93 |
| 12 Oct 2023 | $0.98 | $0.91 | $1.05 |
| 17 Oct 2023 | $1.04 | $0.96 | $1.11 |
| 27 Oct 2023 | $1.08 | $1.00 | $1.15 |
| November 2023 | $1.09 | $1.01 | $1.16 |
| December 2023 | $1.11 | $1.03 | $1.19 |
EOS Long-term Price Prediction
The following long-term price prediction for EOS provides insights into its future price outlook. As of the most recent observation, EOS was valued at $0.6, boasting a market cap of $681,291,901 and a trading volume of $110,731,279. This prediction is based on an analysis of historical price trends, ongoing developments, and the prevailing social sentiment within the community.
| Years | Avg Price | Lowest Price | Highest Price |
| 2023 | $1.11 | $0.88 | $1.33 |
| 2024 | $1.42 | $1.13 | $1.70 |
| 2025 | $1.82 | $1.45 | $2.18 |
| 2026 | $2.32 | $1.86 | $2.79 |
| 2027 | $2.97 | $2.38 | $3.57 |
| 2028 | $3.81 | $3.05 | $4.57 |
| 2029 | $4.87 | $3.90 | $5.85 |
| 2030 | $6.24 | $4.99 | $7.48 |
| 2031 | $7.98 | $6.39 | $9.58 |
| 2032 | $10.22 | $8.17 | $12.26 |
| 2033 | $13.08 | $10.46 | $15.70 |
| 2034 | $16.74 | $13.39 | $20.09 |
EOS Price Prediction: Experts’ Comments
“EOS is an adventurous project and one of the rapidly growing segments in upcoming years. It is more bulls than bears. It could balloon up to $6.15 by the end of 2027.”
Tech News Leader
“According to the EOS coin price prediction, it may trade around $4.12 over the next five years.”
Digital Coin Price
“Based on a logical algorithm, EOS technical analysis has short-term rallies and potential long-term advantages. The long-term price will reach $1.498 at the end of 2023.
Crypto Predictions
“EOS price forecast has to work hard to keep pace with the competition. Going by the EOS prediction, the coin price may reach $0.0261 by 2023 year-end. Thus, your current investment may be devalued, making EOS a bad choice.”
Wallet Investor
“According to GOV Capital, the EOS price prediction 2024 reveals the expected minimum price to be around $0.8896.”
GOV Capital
“According to Long forecast, the EOS forecast by the end of 2024 is expected around $0.40.”
Long Forecast
FAQs
Should you consider buying EOS?
Although the prevailing market trend has been predominantly bearish, the recent upward price movement suggests efforts by the bulls to assert influence. Moreover, the introduction of the EVM mainnet has the potential to alter market sentiment. A buying range between $0.81 and $1.07 could attract buyer demand.
A decisive breach above the resistance level at $1.743 will likely result in a sustained bullish momentum. Investors and traders are advised to exercise caution and diligently track key resistance and support levels and the mentioned technical indicators to make well-informed decisions regarding potential future price movements.
Where to buy EOS?
All esteemed exchanges offer a way to purchase EOS from their platform. On many exchanges, you also benefit from trading EOS directly for fiat currencies or other cryptocurrencies like Ethereum. Investors of EOS might also benefit from the block rewards program on EOS.
Will EOS go up?
Indeed, yes. Based on our EOS predictions, the token’s performance will be bullish in the future. EOS is estimated to reach an average price of $1.11 this year. Later, the EOS price will rise to a maximum price of $2.97 by 2027.
How does EOS ensure privacy compared to other cryptocurrencies?
One does not face any privacy issues with EOS mainly because of its salient characteristics of lending value to your hard-earned money. Transparency with privacy protection is a feature that makes EOS highly distinctive.
