Is EOS Worth Hodling?

EOS is one of the cryptocurrencies with fantastic initial coin offerings. It attained an all-time high price of $22.89 on April 29th, 2018 according to CoinMarketCap. Many hoped that it would have given a better yield since most cryptocurrencies like Bitcoin, Ethereum, Litecoin, and XRP that are within the top five cryptocurrencies at that time were experiencing a correction. However, the present record shows that EOS is the worst performer among the cryptocurrencies above. This has led to the question if EOS is EOS Worth hodling considering that every investor has profit as their aim?

To answer this question, we shall consider the following:

1) EOS performance in relation to Bitcoin and Ethereum

According to data available in CoinGecko, in the past 1 year, the price of EOS Worth has reduced by 63.4%. Bitcoin price has also reduced by 26.5% while Ethereum price has increased by 37.8%. It could be seen that a crypto investor who hodls Bitcoin would have minimized his losses while an Ethereum investment would have made the Investor gain $37.8 for every $100 ETH holding.

2) Activities in the Blockchain

According to the official EOS website EOS.io, it will be noted that the last active event in the blockchain was conducted over a year ago. This inactivity shows that the team might not have any new development or upgrade to conduct. It is not advisable to hodl a crypto asset with no recent commits or developmental programs on the horizon.

3) Attraction of developers

In recent times, no EOS token had been listed in top exchanges like Binance excluding Everipedia. The concentration of most of the EOS tokens on decentralized exchanges like Newdex and Defibox makes it hard for the tokens and EOS Worth to gain more adoption. This calls for attention since more successful projects on the EOS blockchain mean more relevance to the EOS coin.

4) Low activities

According to Bloks.io, the EOS blockchain can complete 3996 transactions per second. However, in recent times, less than 40 transactions are completed every second in the blockchain. This shows that the blockchain is almost inactive since it represents about 1% of its capacity. Platforms like Ethereum blockchain are faced with scalability challenges due to the high activities that are required to keep them running.

Conclusion

EOS might not be a good option for an investor who wants to gain unless the investor wishes to gamble with it.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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Chukwuemeka Raphael

Chukwuemeka Raphael is an author and cryptocurrency news writer/analyst. As a Mathematics graduate and trained analyst, he combines his Math knowledge and strong reading culture in contributing content and analysis for the development of cryptocurrency and blockchain space.