EOS is a blockchain platform developed to maximize security, performance and developer experience. Built in 2018 by a decentralized group of block producers, the platform offers a faster and easier alternative to the existing blockchain platforms, like Ethereum. It boasts a third-generation layer 1 protocol, ensuring a very high transaction speed with low latency, facilitated by its delegated proof-of-stake consensus mechanism. This creates a voting system among token holders to decide which block producers will be responsible for validating transactions on the network, instead of miners, as seen on proof-of-work systems like Bitcoin. Additionally, its unique approach to resource management supports large scale dapps and its foundation grants funds to dapps based on EOS.

With a market cap of $1.42 billion, EOS is the 42nd biggest asset in the cryptoverse. Its price volume has spiked 60% in the past 24 hours, with a volume-to-market cap ratio signaling a consolidated trend. The EOS weekly technical chart confirms this trend and hints towards a bearish candle forming in the daily chart. Currently trading around $1.2 with a 2% intraday loss, EOS has $1.5 to $1 as major resistance and support, respectively. It is also trading above the 100 daily moving average, while the RSI of 55 points out the asset's neutral zone.

Crypto analysts have suggested a potential rise in the EOS token price, thanks to its grant fund that boosts the ecosystem. However, financial losses may occur when investing in or trading crypto assets, so bearing these risks in mind is essential.



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