The EOS crypto price (EOS) has been declining today after a surge in the past week. The red trend is notable as it was one of the only cryptos to maintain a gaining momentum during the recent bearish sessions when the other major cryptocurrencies were seen dropping. If you are new to this crypto then let’s first discuss what is EOS crypto all about.
What Is EOS Crypto?
The EOS crypto is the native digital currency of the EOS Network. The popular crypto price-tracking website, CoinMarketCap, defines EOS as:
“An open-source blockchain platform that prioritizes high performance, flexibility, security, and developer experience. As a third-generation blockchain platform powered by the EOS virtual machine, EOS has an extensible WebAssembly engine for deterministic execution of near fee-less transactions. EOS is the market’s most scalable, divisible, and programmable digital currency. EOS is a Delegated Proof of Stake (DPoS) network where stakeholders have the authority to select node operators. Due to the decentralized nature of the token distribution on EOS, power doesn’t reside in the hands of block miners, but rather all parties involved in the EOS Network.”
EOS Crypto Price Performance
The crypto had been surging lately even during the recent bearish sessions, which is why even a slight decline is notable enough. The EOS price was down by 0.57% and it traded at $1.70 at the time of writing on Thursday, August 25, 2022. The market valuation of the token stood at $1.69 billion, decreasing by 0.56%. Further, the 24-hour trade volume slumped by a huge 32.34% to $622.51 million.
The day’s low was $1.66, while the crypto had earlier surged up to $1.80, thus, widening the losses. Another fact that should be highlighted is that the coin’s price was stagnant at $1.70 (according to the EOS CoinMarketCap page) for a long period of time. However, it is still up over 8% from its price eight days ago. It was seen that the EOS crypto price prediction analysis saw an alternation after the recent price action (in the past week).
As reported earlier by Crypto Venture News, the EOS crypto’s value was up by 22.87% and it traded at $1.57 at the time of reporting on Wednesday, August 17, 2022. The market capitalization of the digital currency stood at $1.56 billion, gaining by 22.82%. In addition, the 24-hour trade volume skyrocketed by a whopping 357.79% to $966.32 million. This gain was due to the announcement made by the parent organization that mentioned the launch of a Yield+ Incentive Program. The EOS crypto price prediction statistics currently show that it is estimated to reach $2.5 by the end of this year.