- EOS crypto has underperformed.
- EOS crypto’s current inflation rate is below 2% per year.
EOS is a blockchain platform aimed at supporting decentralized applications (dApps) with faster transactions and enhanced scalability. It utilizes a delegated proof-of-stake consensus model and features the EOS token for transaction fees and governance. Created by Dan Larimer, EOSIO raised $4.1 Billion in its initial coin offering, migrating from Ethereum to its own blockchain.
The open interest of the EOS crypto has declined by 5.5% in the last 24 hours followed by an advance of 28.2% in the derivatives trading volume of the crypto. Furthermore, the traded value of the crypto is $473.4 Million.
The market cap of the crypto further has witnessed a decline of 1.3% in the last 24 hours while the trading volume has witnessed an advance of 13%. The value for the traded volume of the crypto is $295.2 Million.
The current market cap of the crypto is $1.309 Billion and the market cap ranking of the crypto is #86 CoinMarketCap. The volume/market cap ratio of the crypto is 22.41% and the circulating supply of the crypto is 1.119 Billion EOS.
EOS Token Supply Overview
The total supply of the EOS crypto is also the same as the circulating supply while the max supply of the crypto is infinite. Moreover, the fully diluted market cap of the crypto is 1.306 Billion.
Development Activity Vs Open Interest In USD
The open interest in the EOS crypto is already high and aligning with the trading price while the weighted sentiment has witnessed a huge decline and seems to be highly volatile.
The development activity for the crypto also seems low and static which shows lack of activity in the crypto community.
EOS Crypto Technical Analysis
The EOS crypto price was in a declining triangle pattern for a long time and the price further broke above the pattern. The breakout led to a strong surge in the crypto price and the price has advanced by 80% since then.
At the higher levels, resistance levels could be broken in the upcoming days.
EOS/USD Chart by TradingView
The EMAs highlight bullish behavior on the daily chart of the EOS price chart. This is because the 20,50 and 200-Day EMAs are trading in a golden cross.
The Average Directional Index is trading at a level of 44 which indicates strength in the trend of the crypto.
The MACD and the signal lines are trading in a bullish cross and have surged above the zero level with time. The histograms also indicate buyers’ presence followed by the green histograms on the chart.
Summary
Despite the underperformance, EOS shows potential with recent bullish movements, surging 80% after breaking a declining triangle pattern. Technical indicators including the golden cross of EMAs, bullish ADX, and MACD support further upward momentum.
While development activity seems low, high open interest and a positive sentiment highlight optimism on the EOS chart.
Technical Levels:
- Support Levels: $0.520 and $0.670
- Resistance Levels: $1.920 and $3.160
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.