Months After the Launch of MainNet EOS Yet to Challenge Ethereum. The Bulls Hang On As EOS Goes Green - EOS News and Price. Sunday, August 26
EOS News and Price
Months After the Launch of MainNet EOS Yet to Challenge Ethereum
EOS was promoted as the Ethereum killer and in fact kept the community expectant over the prolonged ICO that many described as unending that later did end before the platform’s MainNet was launched. Since then, EOS has had a few problems that may be attributed to its newness in the cryptosphere.
However, the coin is yet to mount a serious challenge to Ethereum as the go-to platform for decentralized applications and smart contracts as expected.
Granted, EOS has made some giant steps such as gaining a market share that saw it move from the 12th position up to 5th. The cryptocurrency now has a market capitalization of $4,436,874,545 USD, down from $7,511,110,027 USD to mainly to the bearish coin market. Its price fell from $12.79 at the beginning of the year to $5.03 today. There seems to be little hope that it will surge to its high of $22 as witnessed in the last week of April.
EOS and Others Duke it Out As Bitcoin Surges
Whenever the price of Bitcoin rises, it heralds good times for the coin market generally. However, it could be bad news for some altcoin if the market share of the premier coin surges with price. Bitcoin has always been the dominant coin and increase in its dominance means that the funds move from some altcoins to BTC.
As at the time of this report, Ethereum, Vchain, Tron, EOS, Neo, IOTA and XRP are seeing reasonable upward movement in their prices with IOTA in the lead gaining 5.59 percent. Tron gained 3.77percent while EOS gained 2.03 percent.
The Bulls Hang On As EOS Goes Green
The bulls have been able to hang on above the $3.8723 support pushing eos above the moving average. This shows that the sellers are petering out but the market confidence will be a determinant of how long this lasts.
EOS/USD Price Chart, Sunday August 26th:
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