The positive momentum affecting all cryptocurrencies appears to be calming down somewhat. That is not entirely uncommon when the weekend is around the corner. For the EOS price, there is no reason to be concerned, as there is still a medium-sized gain in place. Remaining above $5.75 seems doable, although a jump to $6 is not necessarily in the cards.
EOS Price Remains in the Green
Even though some of the top 20 cryptocurrencies note some small dips right now, the EOS price is a very interesting exception in this regard. Despite the mere 2% gain, the altcoin is still hanging on to some of its gains noted earlier this week. EOS Is also on the rise compared to Bitcoin, courtesy of a 1.2% gain in the past day.
It seems to be a matter of time until all cryptocurrencies go through another wave of corrections. With Bitcoin futures closing today across numerous platforms, there is usually some bearish pressure across the markets. A decline in value for Bitcoin will drag all altcoins with it. If that happens, EOS will most likely test its support at $5, which the market has been returning to since August.
As is always the case where EOS is concerned, interesting developments loom on the horizon. A new EOS Hackathon is on the agenda, with Block.One committed over $1bn in funding to help the EOS ecosystem grow to new levels. Although exact details regarding this hackathon will become more apparent over the next few weeks, it sends a clear message to the community as a whole.
— Panama World Wide Investments (@bitcoin507) September 28, 2018
In other related news, there is a new bounty for those who are working on building applications for the EOS ecosystem. It appears a $3,000 bounty will be paid to the person submitting the best idea for a project based on EOS. This project has the backing of the My Wish platform, which seeks to position itself as a key player in the EOS ecosystem.
— MyWish (@mywishplatform) September 28, 2018
Last but not least, there is a new EOS exchange in the works. EOS and Bitfinex are joining forces to launch EOSfinex. This will be another decentralized exchange operated by Bitfinex’s parent company, as the firm also manages Ethfinex. The launch of EOSfinex has been rumored for some time now, yet it seems more progress has been made in this department.
— EOS News 24×7 (@eosnews24x7) September 28, 2018
As is always the case in the world of cryptocurrency, anything can happen. There are plenty of signs pointing toward a bright future for the EOS price, although that doesn’t necessarily mean anything will happen in that regard. All of these markets remain unpredictable first and foremost, as they always have been.