- EOS ICO was the biggest in history raising $4.1 billion.
- According to recent statistics, most major ICOs have not only survived but succeeded.
- EOS price is down by 90% since its all-time high at $19 in May 2018.
EOS ICO was certainly huge, raising $4.1 billion and getting featured on major publications like CNBC. Block.one funded EOS without a live product but still managed to have a lot of success. However, after its peak at $19 per token in May 2018, the digital asset simply collapsed and never managed to recover.
B1 is building products designed to leverage our #Bitcoin as more than just a store of value, and we have accumulated well beyond our previously announced 140,000 #BTC position. We are in internal testing and alpha stages. #EOS #EOSIO
— Brendan Blumer (@BrendanBlumer) December 17, 2020
Most investors think that Block.one leadership was one of the problems. Just recently, on December 17, 2020, Block.one announced that is focusing on building products designed to leverage their Bitcoin as more than just a store of value, which was not taken too well by investors.
EOS price could see a major fall towards $1 if this level breaks
EOS has been trading between $4 and $2 for practically the past year. The support level formed at $2.3 is the most crucial in the long-term. This level was defended several times in the past on April, May, June, November, and December of 2020.
EOS/USD daily chart
A breakdown below this crucial support level can quickly send EOS price down to $1 in the long-term as there is very little support on the way down. Additionally, Dan Larimer, CTO of Block.one has just recently resigned, adding more pressure to the bulls.
However, EOS bulls could defend the $2.3 support level and push the digital asset towards the 50-SMA and the 100-SMA on the daily chart, which both coincide at $2.8.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.