Key Takeaways

• EOS is a long-serving crypto, having been subject to a then-record $4 billion IPO in 2017.
• Its price has declined over the last two years as a legal struggle between the blockchain’s managers and its founders has overshadowed its activities.
• Can EOS get back to where it used to be, or is it doomed to stagnation? 

EOS is a pretty long-standing crypto, having first come onto the open market in 2017. Although it once held the record for the largest IPO, it has not quite become the “Ethereum killer” it was initially touted as.

Indeed, an ongoing legal tussle between the EOSIO blockchain’s operators, the EOS foundation, and its founders, Block.one, has overshadowed any potential accomplishments EOS might have made over the past few years, including the launch of its link to the  

Even if the coin has avoided being involved in the United States Securities and Exchange Commission (SEC)’s legal cases against the Binance and Coinbase crypto exchanges, it has still struggled over the last month or so.

On the other hand, with the overall daily trading volume of EOS rising from less than $100 million on 30 June to nearly $375 million the following day, before stabilizing at around $150 million a day, there is still some interest in the crypto. 

But what is EOS (EOS)? How does EOS work? Let’s see what we can find out, and also take a look at some of the EOS Price Predictions that were being made as of 18 July 2023.

From the Whitepaper

EOS’ whitepaper, in other words its technical documentation, says that the system is designed to be quicker and cheaper than its competitors.

It says: “The resulting technology is a blockchain architecture that may ultimately scale to millions of transactions per second, eliminates user fees, and allows for quick and easy deployment and maintenance of decentralized applications, in the context of a governed blockchain.”

Advantages and Disadvantages of EOS

Blockchain analytics company Messari recently released their quarterly report on EOS.  In it they highlighted the success of its recently-launched EVM, and outlined some key advantages and disadvantages of the blockchain.

It found that EOS had

• An average market cap of $700 million, down from $900 million year-on-year and $1.3 billion quarter-on-quarter.
• Quarterly revenue of $22,400, down from $53,100 year-on-year and $31,500 quarter-on-quarter.
• 29,400 average daily addresses, down from 56,500 year-on-year and $35,000 quarter-on-quarter.
• 900,000 average daily transactions, up from 700,000 year-on-year but down from 1.3 million quarter-on-quarter.

Advantages of EOS

Messari also found that EOS had

• Good plans in place to help counteract any decline in growth going forward.
• Seen people return to the system after more than a month away.
•  A strong level of security.

Disadvantages of EOS

Messari also found that EOS had

• Suffered as the market took a hit following the SEC’s legal action against Binance and Coinbase.
• A reduction in new signups over the quarter as the overall EOS ecosystem shrunk, with its overall market position dropping from 42 to 49.
• A relatively low level of activity on its EVM.

With Messari’s report being broadly positive about EOS, what does this mean about the EOS price prediction?

First, though, let’s talk about what EOS actually is.

EOS Explained

One of the most important developments in the blockchain’s history is that of decentralized applications (DApps). These programs and platforms are something that helps show that the blockchain isn’t just about cryptocurrency. 

DApps can help people use the strengths of the blockchain to create programs that can work quickly and offer privacy.

The EOSIO blockchain, more commonly known as EOS , is designed with DApps in mind. Founded in 2017 by the Block.one crypto development company, it promises users a quicker, easier, and cheaper way to develop their platforms.

EOS is supported by its eponymous coin.

How EOS Works

The EOS blockchain uses a type of Proof-of-Stake (PoS) consensus mechanism, which means people who hold the EOS coin can add blocks to the blockchain and earn rewards for doing so. 

In late 2021, the management of EOS, led by Yves La Rose, split from Block.one, citing poor management of the blockchain.

Although the platform’s 2017 initial coin offering (ICO) raised a then-record $4billion, it was not without its controversy, as it received a fine from the SEC in 2019 over a lack of transparency.

As well as helping grow the EOS blockchain, the EOS coin can also be bought, sold, and traded on exchanges. 

EOS Price History

Let’s now take a look at some of the EOS price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a EOS price prediction. 

When EOS first came onto the open market in 2018, it was worth about $3. The bubble of late 2017 and early 2018 saw its price rise and, on 29 April 2018 it reached an all-time high of $22.89. 

After that, the price slid down to below $10, where it stayed until the bull market of early 2021. In early May that year, it peaked at above $10, but then dropped and it closed the year at $3.03.

2022 was a bad year for crypto, and EOS did not emerge unscathed. The coin struggled to cope with a string of market crashes and it dropped below the dollar in June. Although it made some recovery later in the summer, the collapse of the FTX exchange was a blow, and it closed the year at $0.8623. 

This meant EOS lost more than 70% of its value in 2022.

So far, 2023 has been another period of losses for EOS. While it initially rose to break past $1.30 in early March and it was still worth more than $1.20 in April, it fell in May. The SEC’s legal actions hit it hard and, on 20 June it fell to a low of $0.6053. 

Since then, it has made something of a recovery and, on 18 July 2023, it was worth about $0.7535.

At that time, there were a little over one billion EOS in circulation, representing the total supply. This gave it a market cap of about $826 million, making it the 49th-largest crypto by that metric. 

EOS Price Analysis

EOS had a tough time throughout much of June. On 5 June, before the SEC said it was suing Binance, it was worth $0.9206, meaning that it lost around 35% of its value over the following 15 days.

It has recovered by nearly 25% since then. It is still worth almost 20% less than its pre-crash price, though. 

EOS Coin Price Prediction 

With that all out of the way, let’s take a look at some of the EOS price predictions that were being made as of 18 July 2023. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong. Also, keep in mind that many longer-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice. 

First, CoinCodex  had a short-term EOS price prediction which said the coin would behave in a fairly volatile manner in the coming few weeks. It said EOS would go up to $0.7824 by 22 July but then drop to $0.7357 by 7 August.

EOS Forecast for 2023

Regarding other EOS price predictions for 2023, CaptainAltCoin  was also gloomy, saying it would drop to $0.4055 by September and $0.4761 by December. DigitalCoinPrice  was much more optimistic, forecasting EOS to get to $1.60, while PricePrediction.net  thought it would stand at $0.93. 

EOS Forecast for 2025

When it came to making an EOS price prediction for 2025, DigitalCoinPrice was out in the lead again, saying it would reach $2.59, while PricePrediction.net had it coming in at $2.02. CaptainAltCoin, meanwhile, thought it would trade at $1.11 in two years time.

EOS Forecast for 2030

Moving on to a more long-term EOS price prediction for 2030, PricePrediction.net said that the coin would reach $12.24 while DigitalCoinPrice had it coming in at $7.64. On the other hand, CaptainAltCoin would not have made good reading for EOS’ investors, with it suggesting that the coin would be a worthless deadcoin by the start of the next decade. 

Is EOS a Good Investment?

It is hard to tell. Although EOS does offer an alternative way to create DApps, the days when it was the hottest, record-breaking, hip young gunslinger on the crypto block are long gone.

With the ongoing legal ructions between the EOS Foundation and Block.one, investors could be forgiven for looking at putting their money somewhere where there is a bit more certainty. 

Although the coin has performed well in recent weeks, that needs to be put against the context it being a crypto that has struggled over the last 18 months or so.

Furthermore, as a coin that has been around for around six years, you could be forgiven for thinking that EOS is now as big as it is ever going to get. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in EOS.

Will EOS go up or down?

No one can really tell right now. While the EOS crypto price predictions are largely positive, barring CaptainAltCoin’s forecast of doom, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in EOS?

Before you decide whether or not to invest in EOS, you will have to do your own research, not only on EOS, but on other, related, coins and tokens such as Ethereum (ETH) or Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

FAQs 

How many EOS are there?

On 18 July 2023, there were a little over one billion EOS in circulation, representing the total supply.

Will EOS reach $10?

It might do, but not for some time. PricePrediction.net says it will reach that level in 2030, while DigitalCoinPrice things it will probably happen in 2031, and should get there for sure in 2032.

Keep in mind that EOS has not traded at more than $10 for more than two years, with it last reaching double figures in May 2021.

What is EOS used for?

People who hold EOS can use the coin to add blocks to the EOSIO blockchain. It can also be bought, sold, and traded on exchanges. 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.