The Phenomenal Price Surge of EOS Finally Ends, Stabilizes Around $17

Last month in April, a healthy recovery had swept the crypto market as it valuations soared over $400 Billion contributed by some good price recovery in the price of major cryptocurrencies like Bitcoin, Ethereum and Ripple.

However, one cryptocurrency which outperformed the market expectations is EOS posting over 200% gains over the last one month. According to our data and price charts, EOS has moved from a low of $5.67 on the 1st of April, 2018, to making its all-time high of $20.67 as on April 29, 2018. It has finally corrected since its high-levels applying a break to its bullish phase and is currently seen stabilizing at $17.56.

During the last weekend, the daily trading volumes of EOS topped to $4.3 billion with the majority being contributed by the Asian markets, especially the Korean markets. The Hong-Kong-based digital currency exchange OKEx tops the list in terms of trading volumes followed by South Korean exchanges like Bithumb and UpBit staying at the second and third position respectively.

On Monday, the cryptocurrency finally corrected over 10% and was seen trying at $18.26.

EOS joined the crypto markets at the end of January 2018 this year and succeeded quite quickly to grab its position within the top 10 spot of cryptocurrencies according to market cap. One of the major reasons for the price of EOS to rise so fast is due to the growing speculations of the development of EOS platform.

Last month Eos developers launched EOSIO Dawn 3.0 on Github community. The launch of Dawn 3.0 makes it absolutely easy for developers to create a platform that is flexible and effective. Dawn 3.0 also brings some of the very interesting scalability features for future implementations without the need of undergoing any hard fork.

Moreover, analysts predict that the launch of the mainnet EOSIO 1.0 scheduled next month on June 1 is driving the craze further. EOS is a scalable and flexible blockchain network based on the Ethereum’s ERC 20 protocol. The EOSIO 1.0 is expected to be one of the most powerful platforms that would facilitate the development of cryptocurrency and blockchain applications.

Cryptocurrency exchange Binance in its blog post has announced the support for the launch of EOS mainnet. Binance said: “They would like to confirm that we will support the EOS MainNet Token Swap. We will handle all technical requirements involved for all users holding EOS.”

However, it has to be noted that the project doesn’t have any sort of live product yet in the market. The latest rise in the price of EOS is said to be triggered by the news of a partnership between Michael Kao and Vinny Lee. It is being said that these blockchain enthusiasts will work towards expanding the EOS Global fund platform in the Asian market.