EOS
#EOS is the brainchild of Dan Larimer. His experience in the blockchain world is not disputed. His previous project include Steem and Bitshares. EOS is his attempt at a broad based crypto platform inspired (I guess) by the vision behind Ethereum.
EOS is not the only project that aims at this broad and revolutionary application of blockchains, but one could say it is one of the more promising ones.
Here is a link to the technical white paper The white paper is quite solid and readable though if you are new to cryptos, a lot of the info may go over your head.
Commercially EOS has taken an interesting approach to crowdfunding. They are doing this over a whole year rather than the lightning fast crowdsales that are common in the cryptospace. Each day an auction is held where you can by the EOS #ERC20 token. Yes you heard this right EOS is riding on the back of Ethereum to create the so called ethereum killer platform coin!
The stats (as of print date):
EOS is #6 on coin market caps coin list. i.e. it has the 6th largest market cap in the cryptospace.
- It is valued at almost 10USD per coin
- Market cap is 7.9 billion USD
- 24h trade volumes are about 780 million USD (about 10% of the market cap)
- there are just over 800 million coins in circulation
- the maximum supply of coins is 1 billion.
The code is open source and can be seen on github here
So EOS ticks all my serious coin checkboxes, so what about a punt on EOS? What do I think?
eosusd 1d -[bitfinex]
In the general crypto market, EOS has shown admirable resilience during this savage correction period over the last 3 months. We are just under a 50% retracement since ATH prices which hit 18.67 USD.
We can see that the 200sma has been a wonderful support line.
How does it look against #BTC?
eosbtc 1d -[binance]
We are not far from ATH prices against bitcoin! Wow. Impressive.
What do I see in the charts? I see some resistance coming in both of them. In the USD chart we are almost at the resistance level. The big round 10 USD looks like historically confirmed resistance for EOS.
In the Bitcoin comparative chart the ATH of 13000 sats will also be reached soon. This will be a natural resistance line. I marked it in purple on the chart. But we still have 10% to go from todays price in BTC.
Volumes in both carts are looking nice as well.
That vicious up spike on the 11 April is a worry for a buy-in though.
In both charts we are also stretching far away from the 50sma as well. Typically there is at some point a price revision back to these levels so when there is a large positive disconnect, be warned.
I expect a little bounce down soon so a buy right now is probably not the ideal time in my opinion.
For swing traders, I think we could see some or all of this 10% gain till there is a cool off considering how EOS is racing at the moment.
I would consider EOS is part of a long term investment so dollar cost averaging should still be considered to get a long term position going.
EOS is a good bet for an altcoin investment strategy at this time. I expect it to outperform BTC easily in the next months.
n.b.
The EOS ICO ends June 1st, 2018, and by that time all EOS ERC20 tokens will need to be registered with EOS in order to claim the future EOS Blockchain tokens.
Love EOS, the release is so near that the electricity is tangible around the project. Prices usually go back down, but if they surprise us with some early great news I feel this could just skyrocket to never come back down to 10. Just like ether did last year.
It is so hard to predict such things. I like to revert to technical analysis when I consider entering or exiting positions in the market for speculation. Long term investing is driven more by fundamentals.
Got it.
Dan Larimer is a genius, have been following his work for years, he's why we're here, Steem on!
yes, Dan has really made a mark on the new decentralised internet. His name will be remembered.
Thanks Dan
Here.
I'm a big fan of EOS. Thank you for posting your thoughts on it
thanks for your comment
Got it.