EOS (EOS.X)
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Investing in EOS: the bull and the bear case (January 2019)

Rajlaxmi Sahu | 10:22 pm ET, 20 Feb 2019

EOS (EOS.X) is trading at $2.78, down -3.63% from yesterday.  EOS is the sixth largest cryptocurrency with a market cap of about $2.6 billion. The current volatility in the crypto market has led to skepticism and doubt among crypto investors with regard to what the future course of cryptocurrency prices will be.  EOS is by no means an exception.  

Here are some questions we frequently get about EOS price, when it comes to investing in it: 

  • Is EOS currently a buy or a sell?
  • Should I sell or hold EOS today, if I purchased it 3 months ago?
  • Is EOS a good buy/investment opportunity?

Before making any investment decisions, let's look at the reasons to buy and sell EOS.  Here are a few bullish factors we'd like you to consider about EOS--a.k.a., the bull case.  

1. EOS has been designed in such a way that it prioritizes performance/scalability by offering minimum needs of decentralization, without compromising the cost of performance.  With 1000-6000 Transaction Per Second (TPS), EOS is one of the fastest crypto networks.  Investors are very sensitive to the scalability issue since it shapes the future of the network--and this is where EOS has an upper leg.  

2. EOS deploys a treasury model, which is preferred for ongoing developments.  In the treasury model, a percentage of the cryptocurrency inflation is reserved for development purposes.  Because of this, EOS will continue to be the platform for high-caliber projects.

3. There are good chances for future EOS airdrops.  Suppose you now hold a stack of EOS coins; if airdrops continue, you may be able to get some passive income for EOS token rentals (required for the airdrop).

Next, let's look at the reasons to sell EOS (a.k.a., the bear case):

1. EOS' vulnerabilities have been a blow to its performance.  Some cynics claim that EOS now operates as a central governance model.  Block.one has supported EOS, but its ICO is not a part of EOS' current operations.  Controversies such as this one continue to persist, leading to investors' withdrawal.

2. Rising skepticism in EOS stems from phishing scams that were prevalent during the migration of EOS protocol (which changed from ERC20 to its own main net). In order to manage the alarming breach of security and secure EOS core, transactions of all 27 EOS block producers were frozen, leading to the disablement of 7 accounts.

Over the last 30 days, EOS.X gained 63.02%, which is 43.83 percentage points higher than the 30-day return of Bitcoin (BTC.X).

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Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


EOS price analysis, forecast and news bites

Rajlaxmi Sahu | 11:28 pm ET, 11 Nov 2018

EOS (EOS.X) is trading at $5.63, up 3.78% from yesterday.  There is a steady uptrend in EOS price, breaking the key resistance level of $5.60.  Currently, the EOS-USD pair is in the positive zone; there are some hopes that the price will accelerate towards the $6.00 level.  What news should EOS investors be aware of?

There are some notable advancements on EOS development and ecosystem side.  BancorX, a cross-blockchain decentralized liquidity network, is bridging the gap between EOS and Ethereum through a partnership with LiquidEOS.  Bancor token BNT works both on Ethereum and EOS networks and enables cross-chain conversions by acting as a bridge between the two blockchain platforms.  To Ethereum users, EOS network has some clear advantages: transactions take less than a second, and associated fees are virtually zero.

Cross-chain developments are supported by $10 million BNT from the B protocol Foundation.  This amount is currently held on the Ethereum chain and can be used for the development of the EOS ecosystem (e.g., for enhancing security and user insurance).   

Huobi, a Singapore-based cryptocurrency exchange has made an announcement about its multi-chain wallet which will allow and accept EOS.  Recently, the cryptocurrency exchange Huobi was accused of having “colluded” with EOS on “mutual voting” practices.  The exchange confirmed an investigation into the allegations is still ongoing.

What is EOS near-term price forecast?  Here are the major technical indicators:

  • MACD is in a bullish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is above 50, although still in the neutral zone.  RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $5.35;
  • A new major resistance level is forming at $6.20.

Over the last 30 days, EOS.X lost -1.48%, which is 0.72 percentage points higher than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


EOS price: what do the bulls say?

Rajlaxmi Sahu | 4:42 pm ET, 14 Oct 2018

EOS (EOS.X) is trading at $5.23, flat vs. yesterday. EOS price is well supported above the $5.00 level against the US Dollar. A break in the key bearish trend line shows resistance at $5.65.

What is EOS price forecast? The bulls seem to be louder than ever now--what are they saying?

Development efforts surprisingly have an impact on EOS price.  The EOS hackathon that wrapped up a couple of weeks back led to a rise in EOS price, causing the price to peak a week ago at $5.95.    

Second, EOS is widely regarded as having very deep pockets.  It completed the biggest ICO sale in the world in May worth $4 billion.  The team plans to use $1 billion of those funds towards venture capital investments.   

There are several companies that are building future on EOS.  Block.one, a leader in providing high-performance blockchain solutions, and also the venture arm of EOS, has high-profile investors such as Peter Thiel and Jihan Wu.  This $1 billion VC fund is going to be invested to develop the EOSIO ecosystem. Some of the current Block.one's investments include Everipedia, the next generation encyclopedia rebuilt for the modern age, and Galaxy Digital, a leading blockchain and digital assets merchant bank.

What is the price sentiment towards EOS?  Here are the major technical indicators:

  • MACD is in the bearish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is at 42.  At the level below 50, RSI seems to signal that overselling might have taken place. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $5.00;
  • A new major resistance level is forming at $5.65.

Over the last 30 days, EOS.X gained 0.13%, which is 6.22 percentage points higher than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


EOS: what do the bulls and the bears say?

Rajlaxmi Sahu | 4:45 pm ET, 04 Oct 2018

EOS (EOS.X) price has been on an upswing lately.  With a renewed interest in the cryptocurrency, consumers are starting to think about investing in it again.  Here are the questions we frequently get about EOS as an investment (or a trading) opportunity:

  • Is EOS currently a buy or a sell?
  • Should I sell or hold EOS today, if I purchased it three months ago?
  • Is EOS a good buy/investment opportunity?

 Here are the reasons to buy EOS (i.e., the bull case for it):

1. EOS is the fifth largest cryptocurrency in terms of market capitalization ($5.2B), and is closing the gap with Bitcoin Cash (the fourth-ranked crypto by market cap). 

2. EOS is a well-funded project and funding will continue to pour in.  A portion of the funding and mining rewards is used for ecosystem development (5%).

3. Dan Larimer, the key EOS protagonist, previously launched two application specific blockchains--Steem and Bitshares--both of which have been a huge success. The number of transactions accounted by Steem is higher than that for any other blockchain.

EOS uses Graphene, a high performance, open source, modular blockchain technology that was created by BitShares--and this is viewed as the key enabler of future scaling and commercial efforts.   

4. EOS is designed in such a way that it prioritizes performance while posing minimum requirements for decentralization. Applications that require some decentralization, such as decentralized Twitter or gaming, will do well on EOS.  

5. Dan Larimer revealed his plan to increase the network speed to 1,000-6,000 TPPS, which will make EOS  the fastest available network in the crypto world.

Here are the reasons to sell EOS cryptocurrency (i.e., the bear case):

1. It's prone to security breaches.  EOSBet, a gaming application based on the EOS blockchain, had a bug in its smart contract because of which it was misused, and $200,000 was taken out of the EOS ecosystem. This security breach is a strong detractor for potential future investors.

2. A dApp powered by EOS has come under attack after severely botching an airdrop. It erroneously distributed a large number of coins to its users. The issue was solved by reversing the transactions via Trybe, a blockchain-powered content ecosystem that can access user wallets.

3. The lack of improvement in EOS' overall governance and oversight is a major concern that can repel potential investors from pouring their money into this cryptocurrency project.

Over the last 30 days, EOS.X gained 2.73%, which is 2.97 percentage points higher than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


EOS price: are hackers driving it down?

Carla Olson | 6:04 am ET, 11 Sep 2018

EOS (EOS.X) is trading at $4.95, down 1% from yesterday.  Its price is on a downtrend, reversing the gains from late August and the beginning of September.  The fall in EOS price led to a decrease in its market cap to about $5.4B which is 2.4% of the total market capitalization of all cryptocurrencies.

There are some positive developments for EOS.  Recently Ledger, a hardware cryptocurrency wallet company, announced the inclusion of EOS on its platform. Ledger intends to expand its services by the introduction of more cryptos into its platform. This will help enhance the customer experience.

However, EOS has also been in the news because a hacker exploited an EOS-based betting platform to win $24,000.  The betting platform DEOSBet, which is operated independently from EOS, has been drained of a significant chunk of its operating funds in a robbery where the 'lucky' hacker won $24,000.  The decentralized dice betting game paid its jackpot 24 times to the hacker.

What is EOS price forecast? Are there chances of a price hike in the upcoming days? 

Here are the major technical indicators:

  • MACD is above the zero line which indicates a buy signal. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is below level 50 which is an indication of the cryptocurrency overselling.  RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $4.70;
  • A new major resistance level is forming at $5.43.

 Over the last 30 days, EOS.X lost -16.56%, which is 17.26 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


EOS: will the bearish trend continue?

Carla Olson | 8:04 pm ET, 11 Aug 2018

EOS (EOS.X) is trading at $4.98, down 5% from yesterday. The break of short-term support zones in EOS price has paved way for more declines, which means we are still in the sell-off mode.

What is EOS price forecast? Will the bearish trend continue for much longer?

EOS price is below the 12-day exponential moving average (EMA), as well as below the 26-day EMA, which is an indication the bearish market trend could continue.  

However, there are some good news in the EOS' ecosystem.  A blockchain startup Havven, which offers cross-blockchain payments, is going to bring its stable coin, i.e., a cryptocurrency tied to a stable asset, to the EOS network.  The startup aims to issue USD on the Ethereum as well as EOS network, thus enabling cross blockchain payments. The stable coin will adjust its supply according to market shifts, so as to maintain the price of a fiat currency.

The primary entity behind the EOS, Block.one announced it is pursuing a $1 billion investment fund for the ecosystem growth. In the cryptocurrency world, EOS is the 5th most valuable crypto with a market cap of $4.9 billion USD.

The EOS platform offers solutions for individuals, businesses, as well as organizations. It has the potential to measure a degree of flooding and find fire boundaries for disaster management. It also may be able to identify oilrigs and asses their impact on the environment.  To provide platform-based services to their customers, EOS' partner companies use EOS white-labeled solutions.

 Here are the major technical indicators:

  • MACD is in the bearish zone.  MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is moving into the oversold territory, indicating exhaustion among the sellers. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $4.66;
  • A new major resistance level is forming at  $5.40.

Over the last 30 days, EOS.X lost -32.67%, which is 28.47 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


11 best cryptocurrencies for August 2018

Carla Olson | 8:59 pm ET, 05 Aug 2018

After a significant dip in the second quarter of 2018, cryptocurrencies are becoming popular again among retail investors, appearing in the mainstream media headlines every day. There are a few cryptocurrencies that have grabbed investors' attention.  What are the best cryptocurrencies to invest in in August this year?

Before we share with you our top 11 list, here is our little hack: use the cryptocurrency investment idea tool to stay up-to-date on the best investment opportunities in the altcoin space.

1. Bitcoin

Bitcoin is by far the most popular cryptocurrency today, garnering a plenty of investors' attention. We think Bitcoin may be a good opportunity to invest in now because: 

  • It is the most established cryptocurrency.
  • Stock market volatility and political uncertainty are good for Bitcoin. In general, political unrest is not good for the stock market, because its value is tied to established companies that depend on government services.  But given the political climate across the world, and decreasing faith in government institutions, Bitcoin is becoming increasingly more popular.
  • It's easy to invest in it: investing in Bitcoin is as simple as buying a stock on an online exchange. You can use also a zero-cost brokerage such as Robinhood to do that.

Bitcoin (BTC.X) is trading at $7,654.54, up 0.27% from yesterday.  Over the last 30 days, BTC.X gained 20.64%.2. Stellar Lumens

Stellar is also based on the blockchain technology.  It connects banks, payments systems, and people with a goal to move money quickly, reliably, and at little or no cost.  Here are the  main reasons why one should consider investing in the cryptocurrency now:

  • Stellar offers low-cost transactions and accounts. 1 USD will cover about 400,000 transactions, and there are various licensed exchanges where Stellar Lumens can be purchased. 
  • There is a good market opportunity for the cryptocurrency as Stellar is the first distributed ledger protocol which received Sharia compliance certification in the money transfer and asset tokenization space.
  • Security is one of the main focus areas for Stellar, and the company solved security-related challenges in a very creative and effective way. Stellar's nominal base fee, paid by transaction initiators, deters malicious attacks that can flood the network. Whenever there is a suspicious account submitting transactions, this base fee increases. 

 Stellar (XLM.X) is trading at $0.27, down by 0.75% from yesterday.

Over the last 30 days, XLM.X gained 39.58%, which is 18.94 percentage points higher than the 30-day return of Bitcoin (BTC.X).3. IOTA

IOTA has a market capitalization of $2.5 billion USD today. It focuses on the emerging machine-to-machine (m2m) economy of the Internet-of-Things (IoT) and other applications where a scalable decentralized system may be warranted. 

Unlike other cryptocurrencies that are based on the blockchain technology, IOTA  makes use of its unique infrastructure known as Tangle. We think IOTA is a good investment opportunity now, because of the following reasons:

  • It has good scalability, no-fee transactions, and no blocks.  It targets the up-and-coming market opportunity called the Internet of Things (IoT), which could reach more than 1 billion transactions by 2020, thus necessitating a secure, cheap and scalable micro-billing mechanism for everyone.
  • Its partnerships with the mainstream companies such as BOSCH, Volkswagen, and Porsche seem to be very promising.
  • It can be easily bought in a hasslefree manner using many exchanges (e.g., Coinhako).  With the growth in the ecosystem every day, buying or selling IOTA will become even easier.

IOTA (IOT.X) is trading at $0.91, down -2.8% from yesterday.

Over the last 30 days, IOT.X lost -12.87%, which is 33.52 percentage points lower than the 30-day return of Bitcoin (BTC.X).4. EOS

EOS is one of the most used blockchains in the world today. It has a market capitalization of $6.3 billion USD.  

EOS is a blockchain project that enables horizontal scaling of decentralized applications, allowing developers to efficiently create high performance distributed applications. It is a good investment opportunity because:

  • It is simple to use, and accounts are easily recoverable in case of security breaches. This is very helpful for the mainstream public that doesn't have much experience with private keys and account security issues.
  • The EOS network is pretty efficient with handling volume bottlenecks on high transaction days.
  • EOS has zero transaction fees. When a smart contract is executed, EOS requires the user to stake tokens which are returned back to him or her after the execution.

EOS (EOS.X) is trading at $7.04, down by 3.68% from yesterday.

Over the last 30 days, EOS.X lost -12.01%, which is 32.65 percentage points lower than the 30-day return of Bitcoin (BTC.X).5. Ethereum

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It is one of the most promising coins in the crypto world and one of the best long-term investment choices for crypto investors because of the following reasons:

  • Since many Initial Coin Offerings (ICOs) intend to release their tokens on the Ethereum network, its price is expected to appreciate over time.
  • It has the potential to transform the financial system just like Uber and Airbnb did in their own industries. The Casper and Sharding technologies depict significant milestones in its development.
  • A decreasing trust in the traditional financial markets is prompting traditional investors to look into the most established cryptocurrencies such as Ethereum.

 Ethereum (ETH.X) is trading at $418.08, down by 1.82% from yesterday.

Over the last 30 days, ETH.X lost -7.15%, which is 27.80 percentage points lower than the 30-day return of Bitcoin (BTC.X).6. NEO

NEO is the first Chinese cryptocurrency to be globally accepted.  Founded in 2014, its mission is to reinvent the way commerce is done.  

NEO entered the top 15 coins by market cap and its capitalization is north of $1.7 billion today.  We consider it to be a good investment option because of the following reasons:

  • NEO is not just a cryptocurrency, but also a project that helps in the creation of digital assets, smart contracts, and other applications on its blockchains.
  • In the NEO platform, a straightforward transfer of shares, equity, and assets is possible because users are able to issue and trade assets. In order to prove an asset's ownership, tokens are distributed.
  • The platform is powerful enough to process 10,000 transactions per second, so there is virtually no transaction latency. This capability attracts a huge number of partners from all over the world, besides China.  

NEO (NEO.X) is trading at $29.19, down by 2.89% from yesterday.

Over the last 30 days, NEO.X lost -10.87%, which is 31.51 percentage points lower than the 30-day return of Bitcoin (BTC.X).7. NEM

NEM is a blockchain built for enterprise-grade performance.  Here are the reasons to invest in NEM now:

  • Compared to Bitcoin, NEM has more real-time case uses.
  • It is the best option for portfolio expansion. No programming knowledge is needed to use the platform as it is quite user-friendly.
  • With cryptographic signatures, NEM is capable of acting as an authentication and notary-type service. It is targeting the retail industry with its blockchain technology. The customers' loyalty points can be converted into money which would reduce the shortcomings such as mistakes in the loyalty points program. 

NEM (XEM.X) is trading at $0.16, down by 2.08% from yesterday.

Over the last 30 days, XEM.X lost -7.8%, which is 28.44 percentage points lower than the 30-day return of Bitcoin (BTC.X).8. Ripple

It is one of the popular cryptocurrencies among the crypto traders. XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. XRP consistently handles 1,500 transactions per second and can scale to handle the same throughput as Visa.

We consider Ripple to be a good investment option because of the following reasons:

  • It is used in the real world today to enable high-speed and low-cost money transfers worldwide.
  • Ripple is going to build more financial market partnerships in the upcoming period, which means its applicability will spread over time.
  • xRapid, used for payment providers and other financial institutions that want to minimize liquidity costs, is gradually being adopted in the market. It can complete international settlements in a short span using XRP as a bridge currency. 

Ripple (XRP.X) is trading at $0.44, down by 2.71% from yesterday.

Over the last 30 days, XRP.X lost -3.7%, which is 24.34 percentage points lower than the 30-day return of Bitcoin (BTC.X).9. Litecoin

It was created by Charlie Lee with the intent to make a lighter version of Bitcoin.  Litecoin is a peer-to-peer currency that enables instant, close-to-zero cost payments to anyone.  Here are the reasons why it may be a good investment option now:

  • A Bitcoin transaction needs 10 minutes to execute, whereas Litecoin takes around 2.5 minutes. The transaction cost for Litecoin is smaller compared to Bitcoin: $0.23 vs. $2.83.
  • This digital currency can be bought easily.  Because of its popularity, it is traded on Coinbase (the top digital currency wallet and exchange).
  • Litecoin was the first crypto asset to be traded on eToro. It's potentially on the upside because of its robust usage, evidenced by the number of active addresses per day. 

Litecoin (LTC.X) is trading at $77.47, down by 0.78% from yesterday.

Over the last 30 days, LTC.X lost -2.64%, which is 23.28 percentage points lower than the 30-day return of Bitcoin (BTC.X).

10. Ethereum Classic

Ethereum Classic is the continuation of the original Ethereum blockchain, prior to the July 2016 DAO hack.  Here are the reasons why it may be a good investment option now:

  • Currently, Ethereum Classic processes 48,000  transactions per day and is soon expected to reach the 100,000 mark, upon being licensed on Coinbase.
  • The Ethereum Classic Development Team (ETCDEV) has big plans around IoT, since Ethereum Classic has the most secure blockchain.  There is a pretty decent probability that the company will capture a share of the IoT market.  ETC's scalability will be enhanced after the inclusion of side chains.  
  • Its partnership with a South Korean exchange Zeniex will help ETC enter the Asian market per Memorandum of Understanding (MoU) signed between the two companies.

Ethereum Classic (ETC.X) is trading at $15.21, down by 5.26% from yesterday.

Over the last 30 days, ETC.X lost -3.72%, which is 24.37 percentage points lower than the 30-day return of Bitcoin (BTC.X).

11. Binance Coin

Binance is one of the largest and most powerful cryptocurrency exchanges with a market cap of about $1.5 billion USD.  Reasons for investing in Binance Coin include:

  • Binance processes about 1.5 million orders per second and over $1 Billion per day.  The company's native coin BNB has been the best performing coin since July 2017 (its inception time).
  • The interface is user-friendly, so investors can enjoy a seamless trading experience. 
  • The Binance exchange is one of the most secure exchanges in the world, so the chances of a hack or malicious cyber attack are significantly reduced. Also, its stability provides assurance to its users.

Binance Coin (BNB.X) is trading at $13.61, up 1.11% from yesterday.

Over the last 30 days, BNB.X lost 3.43%, which is 24.08 percentage points lower than the 30-day return of Bitcoin (BTC.X).Do you want a daily updated view of cryptocurrency news, price analyses and speculations?  Check out Finstead Bites, to get your scoop on cryptocurrencies and make your next bet.

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


EOS: what's the price prediction for the near-term?

Carla Olson | 12:52 am ET, 01 Aug 2018

EOS (EOS.X) is trading at $7.18, down 5% from yesterday.  After reaching a high near $9.00, the price of EOS declined against the US Dollar, reaching this week's low. 

What is EOS price forecast, i.e., prediction? What are some of the key developments that investors should be aware of?

A wave of spam has caused EOS to jump past Ethereum (ETH) in terms of crypto transaction volume. The massive volume was caused by the spam from Black twitter, which is a smart contract vehicle.  Black twitter, however, is not actually related to Twitter.  As per Blocktivity’s Capacity Utilization Index, EOS operated at just 0.16% of its capacity despite all the spam.  

The cost of launching decentralized applications (dApps) on the EOS platform has decreased because EOS block producers voted to double the network's RAM supply.  Decentralized applications need a lot of memory space for storing their temporary data. Developers can purchase memory with EOS on the EOS RAM market. Despite being an innovative solution for RAM distribution, the market-based approach is susceptible to shortages and price inflation.  

In a recent incident, developers were prevented from accessing necessary RAM to build and deploy dApps because hoarders and speculators took up about 85% of the network's RAM capacity. This increased the demand for scarce developer resources which caused a sharp rise of RAM prices beyond affordability.

In order to resolve RAM capacity issues, block producers voted to add new RAM to the network. RAM prices have since dropped drastically with 1MB of RAM costing approximately 235 EOS.

As EOS is gaining robustness and addressing issues around decentralization and RAM shortages, many investors are wondering how the cryptocurrency will perform in the near term.  Here are the major technical indicators:

  • MACD  has entered the bearish zone.  MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) dropped below 50, indicating that EOS is oversold. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at  $6.91;
  • A new major resistance level is forming at $7.52.

Over the last 30 days, EOS.X gained 2.1%, which is 25.33 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


EOS and Ethereum (ETH): where are they headed?

Carla Olson | 6:00 pm ET, 27 Jun 2018

Two cryptocurrencies that are increasingly being compared to one another are EOS and Ethereum.  Ethereum has the history and longevity and has been widely viewed as one of the most promising cryptocurrency investments.  But recently, EOS has been gaining momentum on Ethereum.

Here is what happened.  Even though the Chinese Government totally banned all cryptocurrency activities within its jurisdictions, it has recently issued a ranking of blockchain platforms through the China Electronic Information Industry Development (CCID), which shows that EOS  has outclassed Ethereum as the best blockchain platform available around the globe. 

CCID evaluated three dimensions to come up with rankings for all cryptocurrencies: technology, applicability, and innovation.  EOS scored better on all three dimensions than Ethereum.  The irony is, the last time CCID ranked cryptos, Ethereum scored significantly above EOS. 

This new ranking is somewhat controversial for EOS because of a recent couple of incidents.  A few days before the MainNet went live, a serious security bug was discovered on the EOS platform.  Also, there was a delay in attaining the 15% quota for staking tokens to allow for voting on the platform, along with a bug that brought the platform to a halt with transactions being frozen globally on the platform.  

EOS (EOS.X) is trading at $8.02, up 2% from yesterday. Over the last 30 days, EOS.X lost -35.88%, which is 19.47 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Ethereum (ETH.X) is trading at $436.55, down -1.75% from yesterday.  Over the last 30 days, ETH.X lost -23.21%, which is 6.80 percentage points lower than the 30-day return of Bitcoin (BTC.X).

You can compare any two cryptocurrencies on Finstead.com (see example below for EOS.X vs. ETH.X). 

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


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