The EOSmarket price is picking up again, following a few days of relatively successful daily auctions. With more than 100 auctions remaining for the extended ICO, and a main net launch coming in a few months, the EOS digital asset may enjoy more weeks of high activity and visibility.
EOS grew by more than 12% on Wednesday, reaching $6.28, up from recent lows. Yet EOS has not managed to stay confidently above $10. The daily prices reached in the past few days were between $5.37 and $6.70, still relatively low compared to earlier auctions where the price was above $10 for a spell. EOS climbed to position six on CoinMarketCap, and has a theoretical possibility to displace Litecoin (LTC), if it keeps the trend.
One of the reasons behind the rise is the expansion of trading on KuCoin:
The EOS market price is highly dependent on Asian sentiment, and precisely because it is capable of dramatic moves, appreciating within days. Otherwise, there are many skeptics believing there is no true utility to the token itself, and the main net will have to prove its usability.
At the moment, Bithumb remains the most active market for EOS, while exchanges like Bittrex for now refuse to add the asset. The trading on Binance has picked up and EOS is again among the top 10 traded coins. However, the interest may shift within days. The advantage of EOS is the relative decoupling from Bitcoin. EOS is traded directly in Korean Won prices, as well as USD and Tethers (USDT).
The opinions on EOS continue to vary between enthusiasm and skepticism. While EOS offers volatility and an opportunity to trade, the price also corrects sharply and often, posing risk for over-investing.
As the price of ETH has dropped, the contributions to the daily auctions have grown, from about 15,000 ETH to above 25,000 in the past few days. The price of Ethereum slid to $457.08, and some suspect a form of market manipulation.
This article appeared first on Cryptovest
