EOS Booms Suddenly, Is More In Store?

The EOS digital asset continues to surprise, but there are still doubts it is a safe enough investment.

Christine Masters,
27 mins ago


EOS skeptics are often surprised by the market - this digital asset seems to have endless upward potential and rises easily. EOS added up to 45% in a single day, to trade above $8.22, displacing Litecoin from position 5 on CoinMarketCap.

The EOS market price is somewhat similar to the daily auctions. With around 100 auctions left, the market may continue to react. Curiously, after days of strong daily auctions, one of the days saw a large anomaly. Usually, the EOS price at auction was around $6. But on auction day 297, the price only reached $0.03, and the auction gathered 187 ETH where it usually collected around 28,000 ETH.

The next auction, day 298, is seeing EOS bidding at $0.29, with the potential to rise until the end of the day. This anomaly may rekindle talks of price manipulation. In the past, the project has been accused of recycling Ethereum to boost the auction price, and later manipulate the EOS price on the markets. The EOS daily auctions have been suspiciously consistent in terms of ETH tokens gathered, with relatively low fluctuations.

Additionally, there is talk of Antpool by Bitmain trying to buy influence as a block producer in the upcoming mainnet to be launched in June. At this point, it is possible that a considerable market pump may take EOS higher, to make it inaccessible for others to easily become block producers.

The EOS network still has governance issues, due to the substantial rewards of staking EOS and producing blocks. Some users believe it would be fair to airdrop part of the reward to users.

EOS, at this point, remains attractive for trading due to increased activity. However, it must be taken as a risky asset, due to the potential for price manipulation.

Additionally, EOS is making an airdrop of DAC tokens to all Etherescan addresses with more than 100 EOS. The snapshot is expected on April 15, and may lead to some accumulation of EOS for the sake of the airdrop.

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