EOS: Seen Headed to $30, But Skeptics Eye it with Caution

EOS has once again displaced Litecoin (LTC) from position 6 on CoinMarketCap, as it moved above $11. Altcoins, as well as Bitcoin, have grown steadily over the weekend. EOS added around 2.6% to $11.60, and is up a net 40% in the past week. But speculative interest may push the asset above $30, at least when it comes to predictions and expectations.

!EOS!

The EOS volumes have returned, and the asset has revisited its peak against BTC last seen toward the end of last year. This time, altcoins are not only gaining in dollar terms, but taking more ground from the leading coin.

The driver of EOS prices is, at the moment, the general recovery of altcoins and the search for new and promising assets. The other upside are the expectations for the launch of the main net, where the EOS token would serve a purpose to secure block production.

https://twitter.com/bitfinex/status/986624457170137090

More exchanges are supporting the token registration, with Bitfinex, the largest market, participating in the program. This means that EOS would not need to be moved off exchanges for registration. Currently, EOS is, for about two more months, an Ethereum-based token.

There are less than 60 auctions left for EOS, and in the past day, the auction price has grown. Two auctions saw a price above $11, as the auction usually moves in unison with the market price.

Because of the prominence of EOS, the asset was added for eToro trading recently. But while some claim eToro holds EOS tokens on behalf of the traders, the activity won’t affect the open markets that much. The eToro service does not provide actual exchanges to crypto, but there have been talks the service may soon release an option for individual crypto wallets for the handful of assets traded.

Additionally, the most active EOS trading still happens on exchanges that are well-supplied with Tethers (USDT). Tethers are adding artificial liquidity, allowing users to switch to EOS and trade, without actual funds moving into the market. EOS is seeing the largest volumes on Huobi,OKEx and Bitfinex.