EOSIO Blockchain Experiences Significant Transition
The EOSIO blockchain underwent a pivotal hard fork on September 21, officially transitioning to the Antelope protocol. This move was celebrated by EOS community leader La Rose, who remarked on Twitter, “After a multi-year struggle for independence, the EOS community has proven that Web3 truly does empower individuals. This is beyond just a hard fork; it’s EOS Independence Day!” Following this shift towards a more decentralized framework, EOS has introduced a new yield initiative aimed at offering users increased rewards for staking their cryptocurrency. La Rose further stated, “Starting today, you can anticipate more chances to earn higher APY% by staking $EOS + $USDT. Given that liquidity rewards are tied to Total Value Locked (TVL), Yield+ is expected to decrease the liquid supply of $EOS as more tokens are committed to smart contracts.”
Historical Price Movements of EOS
In 2017, EOS faced a bearish market but gained traction towards the end of the year. The price dropped from $4.08 on July 3 to $1.30 by July 15, further plummeting to $0.53 on October 28. However, a robust bull rally propelled the EOS token to $12.38 by December 19, marking a staggering increase of 2,235% from its October low in less than two months. The price subsequently dipped to $7.84 on December 22, closing the year at $8.76. In early 2018, EOS continued its bullish trend, peaking at $16.23 on January 13, only to succumb to bearish pressure, dropping to $4.65 by March 18. A subsequent bull run saw EOS reach an all-time high of $22.89 on April 29, but the price fell again, hitting $4.63 on August 15 and further collapsing to $1.74 by December 7, reflecting a decline of over 92% from its peak. It ended 2018 at $2.56.
Price Trends in 2019 and Beyond
The EOS token experienced a slightly bullish market in 2019, reaching $8.51 by May 31. Nonetheless, the price fell to a low of $2.20 on December 17, closing the year at $2.58. The year 2020 was similarly unremarkable for EOS, which turned bearish after reaching a high of $5.36 on February 14. The price fell to $1.84 by March 12 but managed to climb back to $3.87 on August 16, ultimately closing the year at $2.59. In 2021, the market saw bulls regain some control, pushing the price to $5.49 on February 13. However, it fell to $3.69 by March 25, then surged to $14.37 by May 11, before bottoming out at $3.26 on July 20. The year ended with EOS at $3.03 on December 31.
EOS Price Movement in 2022
The start of 2022 marked a downturn for EOS, as January saw the price drop below its initial launch value to $2. The decline continued throughout the year, reaching a low of $0.8232 on June 18. Leading up to the Antelope hard fork, EOS began to rally, peaking at $1.86 on September 10, a 126% increase from its June low. However, the cryptocurrency struggled to maintain this momentum post-hard fork, plummeting to a 90-day low of $0.94 on October 13. By December 21, EOS was trading at $0.8889, reflecting an 8.3% decline over the previous week, although it was up 5.9% over the past month, according to CoinMarketCap.
Future Price Predictions for EOS
As of December 21, short-term sentiment for EOS was bearish, with 10 indicators suggesting bullish trends and 19 indicating bearish signals, according to CoinCodex. Nonetheless, short-term predictions indicated that the price could rise to $0.9952 by December 26. Moreover, various algorithm-based forecasting services provided moderately optimistic long-term price forecasts. DigitalCoinPrice predicted an average price of $2.12 for EOS in 2023, with projections of $3.78 in 2025 and $12.40 by 2030. Price Prediction estimated an average of $1.34 for 2023 and an optimistic $19.45 for 2030. Conversely, Wallet Investor labeled EOS a “bad” investment, forecasting a drop to $0.154 within a year and a closing price of $0.198 by 2025. Investors should approach these predictions with caution, as past performance does not necessarily predict future results. It is essential to conduct thorough research and consider individual risk tolerance, market expertise, and investment strategies before making any financial commitments.
