So now that the EOS ico is over, could the fact that there is a lack of daily new tokens to the tune of 2m EOS per day that had been thrown onto the market mean that prices will rise?
I am torn. I expect that EOS hype will fade once it went live. However there are a few less tokens that are being thrown onto the market, which ahould lift it up.
There is also the daily volume that hs been much closer to that of ETH which has much higher marketcap.
I think these two factors could make the price rise quite a bit.
What do you think?
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I agree with both of your thoughts. The 24 hour volume is only lower than BTC, ETH, and USDT. That to me is a good sign as a holder. Once our tokens are moved onto EOS and unfrozen you might see some selloff though. The only people trading are people with their coins on an exchange. I am just leaving mine where they are. The amount of airdrops that will happen from the Genesis snapshot will be plentiful, and many people may sell off once they know they are in for that.
I also watched a video by a guy who bet EOS would get to 1000$ by the end of the year. I'm not that bullish but the two reason he stated were the large amount of airdrops that will come. As well as the fact that dapps need to lock up tokens to use it, more users more tokens needed to lock up. Plus the airdrop tokens are gonig to sell of some of their tokens to buy EOS so they can have the badwidth to run their token.
I have told my friends we will hit 32$ sometime this year. That's as much as I could confidently tell them. I told them to buy at 2$ though so it's not a bad start into crypto for them at this point.
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Honestly, I don't think there is something we can say. It is just too chaotic, too many moving parts, some already priced in, others not. Airdrops might be priced in already as well, at least the first X. Also, I expect some of the block producer candidates have collected quite some EOS. If they won't get elected, they might dump.
It is just too unpredictable what is going on. Let them first release one stable reliable mainnet and then I'll take another look ;-)
Edit: about the inflation, I don't think we'll see any effect of this. People simply don't look at this in this market. % of supply issued is one of the most overlooked metrics in the space. Check out https://onchainfx.com for instance and check Stellar and Ontology and try to determine whether their current marketcap is justified ;-)
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True, this really shows how immature and young this market really is. It's almost as if only high schoolers are buying in without any previous knowledge of how markets really work - supply and demand.
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Is it fully launched now? I think it's hard to say what will happen with EOS. I'm not sure even @dan knows. lol
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The volume on EOS is impressive even from 6 months back. It's really hard to say what will happen short term but by end of year I believe the price will be much higher than $14. EOS is going to be a top #2 or #3 coin soon. I knew I should have bought more at .50 cents back last Oct. I went on a trip the week after and the price was already at a $1.50. That was when sentiment was very low and time to buy. If EOS really takes off with adoption now is still good time to get in. It's a hard call. I do love this project.
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I don't think it will inflate from supple. It's a complete GARBAGE ERC20 token, plus they announced they have over 620 bugs on their GitHub -- probably be a while before this project comes to fruition me thinks...I'm interested for short-term trading only.
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Well actually the mainnet has not gone live just yet, all the BPCs are auditing the code and taking the security measures for the official launch. EOS should spike after this the mainnet is launched, which should happen within the next few days. Greetings from #EOSVenezuela @knircky
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I'm still not quite sure what to think about EOS to be honest mainly because I do not like there CEO's. Lately I often read some post predicting EOS at $1000 USD by end of this year but that all reminded me of McAfee's "$1 million Bitcoin - eat my dick in national TV" bet ;)
I do think the hype will continue but the eventual direction (up or down) will show itself after we seeing how they further implement themselves after the ICO.
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I think the price will drop big time. It's so inflated currently and it's just a matter of time before people start taking profits.
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I think that you are right, the excess demand in relation to the supply that occurs in the market would cause a rise in inflation in the coming days.
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I totally agree with you.
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Actually I thought EOS would be doing better at this point in time, I think with the turbulence in world affairs people are afraid to invest there surplus money.
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EOS will get the mainnet bump once its launched and I do think that the organic “scarcity” of the token will also play into it as well. I think that it will stablize after the hype dies down and will then rise and fall based on use. For the short term would say look to take profits on half your holdings in intervals as the price rises and then when it plateaus, hodl for the long term. Bu I am not a financial advisor and I don’t currently have any EOS so I have no dog in this fight! Thanks for the post @knircky!
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with end to backup supply, eos price will go up......
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Community will move on when they find a new craze. Be fearful when everyone's greedy.
I think its OMG's turn now. At least i hope.
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Thank you for the info, great job
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I am not an expert on EOS but as far as I have heard from it.
I believe the price could rise up high.
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Thank you for the info my friend @knircky, good post.
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Oh if you figure this one out let me know. Been torn if I should sell and let the price drop before rebuying or not. Don't have a ton, but still want to play it right and feel like a deer staring into the headlights of an oncoming car. Just frozen right now.
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The new life of eos grow up by day, some eos closer price to ETH. it is make me confius what eos we have to catch.
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With less supply coming in, the prices should rise. In theory at least!
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yes, I think that because it is the principle there is always a high demand and therefore inflation, however in a few weeks this could be leveled and get some balance
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Currently most of the volume for EOS trading comprises of wash volumes as EOS wallets on all exchanges are under suspension. So once the Mainnet launches and everyone's EOS tokens are available, I expect some dumping. This dumping will be proportional to the time EOS Mainnet takes to go live. Longer the time, more the users want to sale and exit from it. Not everyone has got liquidity to hold the tokens for long time.
But after that, I expect a significant pump in its prices owing to reasons described very well by @drpuffnstuff.
The daily supply reduction of 2 million is only 0.2% of all tokens. Though it's not substantial, but combined with the need of staking and greed of availing regular airdrops; prices are bound to shoot up. So I guess within first hour of its launch should be a good time to get into it.
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too many factors to rightly say
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Currently the volume of EOS is $ 1,023,290,000 with a marketcap of $ 12,569,661,622 while the BTC has a volume of $ 4,672,350,000 with a marketcap of $ 130,351,390,682, as we can see the BTC has a marketcap 10 times higher than EOS but barely has a volume 4.5 times higher, this is an extremely positive point for EOS, but I think you have to be careful, EOS has generated very high expectations and at the end of the ICO many people will be outstanding if they start to execute everything promised, not to be like that would come a strong fall, but if they finally meet we will see EOS about $ 30 this year
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