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.
$EOS #EOS— Crypto Michaël (@CryptoMichNL) November 12, 2019
Long call (26 October), but up 21% and reached to T2.
If we're able to break the range high around 4100, I'm expecting continuation towards 4700-4800 on this one.
Interested in the group? DM me or mail; [email protected]https://t.co/BMOpIwwIzm pic.twitter.com/OHuHw55lpi
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.
#eos has sustained 578 transactions per second for days while using a fraction of its capacity. Much More than the all time tps highs of the next 5 most active chains combined. All before #eosio 2 which gives a 5x increase in capacity. #proofOfScalability— Daniel Larimer (@bytemaster7) November 12, 2019