A trader and analyst @CryptoMichNL has shared a possible scenario through which EOS coin may increase in price and touch the $4.2 level. To do that, it has to get over the $3.6 mark. All prices on this chart are in Satoshis.
At press-time, EOS is trading at $3.48, which means that the milestone mentioned by the trader is very close.
Presently, EOS is one of the top-ten cryptocurrencies, which holds spot number 8 by the market capitalization volume. The network allows developers to create dApps and smart contracts, similar to Ethereum and Tron.
As reported by U.Today earlier, EOS has been ranked coin number 1 in the recent Chinese research paper prepared by the Chinese CCID Research Institute.
EOS has been evolving to increase the amount of transactions per second on its network. As per its co-founder Dan Larimer, the network has been doing 578 TPS while using just a ‘fraction of its capacity’.
Recently, EOS conducted a major upgrade EOSIO 2. Larimer states that this upgrade has provided a x5 increase in the capacity of the EOS chain.
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