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Originally launched back in June of 2017, EOS is a blockchain-based operating system used for creating decentralized applications (dApps). Specifically, it is designed to support commercial-scale dApps, by allowing businesses to create blockchain applications in a manner similar to web-based apps.
The token associated with the platform is also called EOS. It’s a mine-able cryptocurrency that utilizes a delegated Proof-of-Stake (dPoS) algorithm type. As finder.com explains,
“The EOS token sale began on 26 June 2017 and will run for a full year. 200 million tokens were distributed in the first five days, with 700 million more split evenly into 350 consecutive 23 hour periods of 2,000,000 EOS tokens each. The remaining 10% of tokens are set aside for block.one, the company building the EOS. IO software, and cannot be traded or transferred on the Ethereum network.”
At press time, EOS is the 5th most valuable cryptocurrency in terms of market capitalization. A single token is trading for around $14.85.
Now that we’ve established what EOS is and its current price point, let’s find out where it may be headed in the future.
Note: This article is not intended to be investment advice. Readers are strongly encouraged to do their own research before investing in any cryptocurrency.
Smartereum is a website dedicated to crypto news. They recently published an article by blogger Andreas Kaplan, which offered some very bullish EOS price predictions.
In Kaplan’s own words, he described why he is high on this relatively new altcoin.
“It is easier for the companies to use this platform in order to create various applications. With the help of parallel execution, it becomes easy for the company to run multiple decentralized applications. With the help of multiple decentralized applications, the IT infrastructure need of the company is reduced. This is the reason why more and more enterprise level clients are expected by the platform. If indeed, it becomes the platform of choice for the enterprise level clients, the appreciation in the token will be huge.”
In the very same article, the Smartereum author wrote that a single EOS token could be going for around $37 by the end of the year. Moreover, he offered a 5-year forecast of around $143 for the popular crypto.
If Kaplan’s predictions are on point, or even close, there will be a lot of happy EOS investors out there.
The man who calls himself Ordinary Rich is a Steemit blogger who covers cryptocurrency. In his bio, the author describes himself as “just another ordinary person with extraordinary wealth.”
In an article written several months back, Rich stated that he believed that EOS would be trading at $20 by 2019. He cited EOS’s ability to support millions of transaction per second, and its lack of transaction cost for end users, among his reasons for optimism.
However, he also claimed that it could go as high as $70 in roughly a year’s time, but acknowledged several things would need to happen to make that price point to become a reality.
He explained, for EOS to reach $70 in 2019,
“New money needs to enter the market. Especially from China and Institution(s). In order to attract new money, good regulation in China and US is a must.”
Ordinary Rich also believes that, “EOS needs to grow (the) community as early as possible before Ethereum and other competitors take over the majority of (the) market,” in order for the altcoin to hit $70 by the next calendar year.
Those who have read some of our previous prediction articles may remember crypto blogger John Young. He is also the founder of the digital currency data websites Spreadsheet.io and Cryptosheets.com.
While other forecasters generally focus on providing one specific price point for their predictions, Young offers a range of potential outcomes.
The data guru utilizes what he calls a “Monte Carlo simulation using the geometric Brownian motion model” in an effort to determine future crypto price ranges. The method essentially consists of get historical daily prices, calculating daily returns, and then simulating a year many times over.
Using this process, Young determined that in 2018,
“We can be 95% certain that EOS prices will fall between $9.58, and $14,898 with a median of $307.”
To learn more about EOS, check out our rundown of the platform, where you can understand what it is, and find resources to learn more.
For more awesome articles by Jacques Martin, check ’em out here! For other price prediction articles we’ve published, check out our ones for Ether, Bitcoin, Ripple, Dash, NEO, NEM, Cardano, Stellar, Monero, Bitcoin Cash, and Litecoin!