The current cryptocurrency market sentiment seems to indicate positive things are bound to happen. For the EOS price watchers, things are starting to look up, even though the current gains do not necessarily indicate a long-term uptrend. At the same time, any gain during this extended bearish period will be more than welcome.
EOS Price is on the Rise
Not too many cryptocurrencies note strong gains at this time. Although the overall momentum is positive, it is evident this spell may not remain in place for much longer. That would be quite problematic for Bitcoin, as well as all altcoins, assets, and tokens on the markets In the case of EOS, things do not look terrible, although no big momentum has materialized either.
Thanks to a small 3% gain in USD value, it seems EOS will maintain a value of over $5.5 for yet another day. This is partially happening because of a 2% gain over Bitcoin, although it is evident that alone will not be sufficient to keep things going for long. Combined with a relatively decent trading volume, it seems unlikely a dip will occur later today.
Similar to Ethereum, TRON, and NEO, EOS will get its oven distributed applications in the future. Several key projects exist already, but the race with the other project has only just begun. So far, it seems EOS dApps are more popular compared to Ethereum, although it remains to be seen how this situation evolves once the initial hype calms down a bit.
Dapps On #EOS (EOS) Get More Interest, Transaction Volume, And Active Users Than Ethereum Dapps https://t.co/93Da3Vqdef via @smartereum pic.twitter.com/wPm3nOu0R4
— Crypto Silbert (@S_SilbertCrypto) October 4, 2018
To further advance the EOS ecosystem, there need to be new projects to keep investors and speculators excited. A collaboration with Bitfinex to develop a decentralized exchange built on top of EOS is one of those options worth exploring. EOSFinex can be quite the game changer for this altcoin, although it is too early to speculate on such matters at this time.
https://t.co/2bZTQLxLvM are working on releasing a dex ontop of #eos along with bitfinex + dex's already on it. ETH also has many dex's
You can also build sidechains on EOS.
— money guy (@money_guy1) October 4, 2018
It appears things will get quite interesting for the EOS community in Spain. A new Meetup group has been formed in Barcelona, which shows the altcoin is quite popular in this neck of the woods. It is the inaugural meetup event, although there is no indication how many people will effectively attend this event, Getting more traction is always a good sign. Barcelona is also a very interesting region in terms of cryptocurrency usage these days.
¡La cofundadora de shEOS, Vivie Ann Bakos, estará allí! Espera conocer a más miembros de la comunidad de EOS esta noche! Excited to connect tonight –> #EOS #Barcelona Inaugural Meetup Event. https://t.co/OmBHTL6KBO @EOSBarcelona @Vivie_AnnDJ @SandyHillTweets #blockproducers
— shEOS (sheos21sheos) (@sheos_org) October 4, 2018
How and if all of these developments will impact the EOS price, is very difficult to predict. This market is, just like all others, reliant on Bitcoin’s momentum first and foremost. As long as the world’s leading cryptocurrency remains in the green, EOS will thrive accordingly. A reversal can lead to spectacular losses in rather quick succession.