As the top markets continue to struggle for any real traction, it quickly becomes apparent today will not be the best of days for most currencies. The EOS price, while looking somewhat promising on the hourly chart, has yet to overcome a few hurdles along the way. For the time being, this market falls victim to the same bearish pressure as all other top cryptocurrencies. Not the trend traders had hoped for, but the ship can be turned around with too many problems.
EOS Price Shows Some Signs of Promise
It is evident the current cryptocurrency market trend is not too promising for most of the top markets. That is not entirely abnormal, as nearly everything in the top 15 will follow Bitcoin’s lead when it comes to price changes. EOS is a dutiful follower in this regard, even though holders and traders had expected something entirely different. Bucking the pressure will not be easy by any means, but it is not impossible either.
Over the past 24 hours, the EOS price has reduced by 1.54% in USD value, bringing the price down to $3.67. There is also a smaller EOS/BTC downtrend with a 0.62% loss. Because of this second development, the current value sits at 90,736 Satoshi. Neither of these trends is exactly beneficial to EOS, but it seems the EOS/BTC losses can be offset without too many problems. The current trading volume is also interesting, as it sits at $1.663bn.
There are quite a few interesting EOS-related developments on the horizon, by the look of things. First of all, the EOSFinex platform has gotten closer to being released. It is expected a beta will become accessible in the next few weeks to come, That in itself will bring some positive attention to the platform itself, as well as the EOS currency in its own right Whether or not it can impact the EOS value in any way, is a different manner.
Delving into the performance requirements for on-chain exchange on EOS, and the unique path chosen by the eosfinex team.💡https://t.co/wflHQDoUGe
— eosfinex (@eosfinexproject) March 22, 2019
There is also some community excitement regarding the EOS World Expo. It is a good example of how this ecosystem continues to grow. According to the official Twitter account, there is a growing list of apps and attendees to keep an eye on. Additionally, there may be multiple announcements in the coming weeks, although no further details have been provided in this regard. An interesting future lies ahead either way, although no price impact is expected at this time either.
https://twitter.com/EosWorldExpo/status/1108894303697305600
The recently issued “rankings” of blockchain ecosystems released by the CCID continues to spark many different discussions. There are plenty of people who consider EOS and Tron to be on the same level, even though the CCID has a very different opinion. EOS is favored for its creativity and basic tech, whereas Tron seemingly has better applicability. Rest assured these rankings will continue to shift around quite regularly in the months to come.
Why is #EOS better? Where’s the diffence between the two blockchains? 🤔
— Telso (@Tronso3) March 22, 2019
When looking at the bigger picture, it quickly becomes apparent things are looking neither bad nor good for EOS at this time. If the EOS/BTC can be overcome without too many problems, there is a good chance the situation will improve sooner rather than later. A push to $3.75 would certainly become plausible at that time, although no one can accurately predict how things will evolve in the coming hours, especially with the weekend right around the corner.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Image(s): Shutterstock.com
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