Is EOS run sustainable?
We’ve written a lot about EOS in the past months as it's been so impressive. But we still think perspective is needed to appreciate this runup.
On April 3rd, EOS traded for $6. Yesterday, the coin was above $22. Granted, a few licensing deals were announced that would perhaps improve the adoption of the coin in coming months, but gains of almost 4 times your money are hard to come by - especially in a month. If you look back further, EOS fetched 45 cents (yes, 0.45 USD!) in early November before BitCoin led the entire market higher. If my math is right, that's a gain of 50 times your money - just amazing. Possible only in crypto guys.
You have to wonder if these gains are sustainable. Boy, I wish I could tell you. We do own EOS and We won't sell it; that’s a great coin for long term holding. Yet, some pullback must come sooner or later, perhaps it is starting now. But there is still room to grow short term (until the main net is launched in early June), but probably after some consolidation first. EOS is also propelled by the fact that there will be a lot of airdrops to EOS token holders (remember to register your EOS tokens to be sure, however some exchanges like Binance can support airdrops).
Our impression is the market has temporarily coalesced around the notion that the EOS value proposition - relative to its overall price - continues to make it the biggest steal in the marketplace. As we know, the market can be very fickle and turn on a dime. If nothing else, this coin deserves closer attention and greater scrutiny, and we will continue to monitor it like a hawk and listen to what people are saying about it.
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EOS was never 8 cents. Lowest was around 45 cents.
For me it's crazy high given the fact it's not live yet. Also nothing world shocking announced...
That's right. But it is not the last run. Same will happen in May for Tron (already huge gains). Funny, all those coins with flashy Whitepapers from top 20 seem to doing so well on hype, isnt it? ;)P.S. Thanks for correcting the price.
I really wonder what will be the future for blockchain technology. Sooner or later we will need to find a real problem to solve or it will all crash down :)
But for now lets enjoy the hype !!!
Blockchain will stay here, it is bigger than cryptocurrencies. We will perhaps need one met blockchain to rule them all. So far, they are scattered. ICX for example aims at creating communication among all of them. That's a good start.
No I mean I agree Blockchain is a very nice and solid concept. Only I don't see a real existing problem it could solve. It's all a nice to have but nothing that will give a boost to the economy...
How about supply chains for Halal food? (noone does it now)
Or control over food in general? (it is done by WAbi, Tefood, Ambrosus)
Or control over authenticity of products? (Vechain)
Or preventing car-clocking? (Vechan, Car Vertical)?
There is more, believe me ;)
True but this can be done in a million different ways...
There is one incredibly good use case for blockchain. Elections. Imagine elections run on top of the blockchain - you cannot erase, revert or cancel a vote. No one can tamper with elections anymore as all that is written there once, cannot be undone. Run on a private blockchain (elections are supposed to be private) with smart contract overlooking everything. The only problem is... the politicians. They will never go for it, at least not in 90% of countries because they know it would change politics forever. Same for electoral mandates that would automatically be terminated once some major fuckups are proved.
Indeed sounds like a good application. We should start election coin :)
it is very good application sir
Is it quantum computers you are referring to?
To the question in your title, my Magic 8-Ball says:
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