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EOS price: what's going on?
EOS (EOS.X) is trading almost 7% down at the time of this writing. What is happening and what is the EOS price prediction?
Last week the CFO of Commonwealth Bank of Australia Rob Jesudason reportedly signed on with the firm of the founders of the world’s fifth largest cryptocurrency in the market today, Block.one. Block.one is a private company that has developed both the EOS token and the blockchain technology behind it.
The market failed to respond to this news. Instead, the cryptocurrency price dropped from $18 to about $13 where it's trading now.
EOS is correcting from its recent rally, and it yet has to find support.
Technical indicators show that a 50% retracement is likely required to instigate new buy orders. A bounce off this level could take EOS to a new peak.
If the price breaks the support level, traders are likely to initiate short orders, which could lead to a further decline.
Given the falling knife pattern of EOS price from the last 7 days, it may be just more prudent to adopt the 'wait and see' approach, until the cryptocurrency finds a new bottom.
For the latest news about and price of EOS, visit Finstead and type "EOS.X news" / "EOS.X price".
Top 3 cryptocurrencies to invest in for May 2018
As we're entering the month of May, we are sharing with you our insights on the best cryptocurrencies to speculate on in May 2018.
We used Finstead screener to generate the list of top altcoins by 1-month return, and we sorted them by market cap. We also included a 3-month return in our table, and then selected those cryptocurrencies that have both long-term and short-term momentum.
Among the top 10 cryptos, here are the 3 that caught our attention.
1. OmiseGo (OMG.X) is one of the most prominet Chinese blockchain projects. It is a project backed by a team of blockchain experts including Ethereum chief, Vitalik Buterin and is aiming to solve some major financial challenges.
Why invest in OmiseGo? Their team is unstoppable. In Q1 alone, they had a number of successful releases, and the progress they made since launch has been amazing.
Why invest in it? The crypto community believes that EOS can be a real competitor to Ethereum, and can still go a long way in terms of growing the market cap. EOS also demonstrated a ton of progress in Q1.
3. Finally, investors are excited about Verge (XVG.X) because of its commercial prospects. Verge has a deal with TokenPay, which signed a deal with a major German bank. Thanks to this deal, consumers are going to encounter XVG debit cards--and that's making altcoin speculators really excited about Verge.
Visit Finstead to view cryptocurrency charts--and try the screener to view cryptocurrency lists and generate investment ideas.
Before investing in any of those cryptos mentioned above, please do your diligence. You may gain a lot from the investments, but you are also likely to lose, so please exercise your caution.
EOS: what's behind the bull run?
After the market recovered from the US tax deadline, EOS (EOS.X) price witnessed a continuous rise, reaching the level of $21 per coin, an all-time high.
This is a phenomenally strong bull run. To get the latest price and news about EOS, please visit Finstead and type “EOS.X price” and “EOS.X news”.
So what exactly happened? What's driving the bull run?
EOS is benefiting from a number of factors. One of the reasons speculators are betting on EOS is Dan Larimer, who is leading EOS development efforts--and he also serves as CTO of BlockOne.
Crypto enthusiasts believe that Dan Larimer created an extraordinary altcoin. EOS earned a plenty of supporters, who trust Larimer as some who led two ICOs already, Steemit and BitShares.
The crypto community believes that EOS can be a real competitor to Ethereum.
There are other factors helping EOS propel to new highs:
- eToro has recently decided to offer this digital currency on its trading platform;
- OK Blockchain Capital intends to invest $100 million in projects that leverage EOS.
Some speculators believe that EOS should have a higher market cap than Ethereum. This perception is fueling the demand, despite the fact that this coin is still considered unproven and experimental.