NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Blockchain Platform EOS Raised $4 Billion and Has Dropped Over 30% Since

Yashu Gola
Yashu Gola
1 year ago
2 mins read
EOS, cryptocurrency

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In the period between June 2017 and 2018, Block.one raised $4 billion via the sales of its native cryptocurrency, EOS. More than a year later, the token associated with the Cayman Islands-based startup has lost over 30 percent of its value due to massive price declines and a lack of authentic users.

The EOS-to-dollar exchange rate currently sits at approx $2.79 after peaking at $23.02 in April 2018. Like in the case of every other cryptocurrency, EOS too became a victim of massive dumping that occurred during the 2018’s so-called crypto winter. But unlike the benchmark cryptocurrency bitcoin, many smaller assets failed to revive a strong bullish price rally.

Low Buying Sentiment for EOS

Entering 2020, EOS remains inside a strong downtrend. It is specifically bad for a platform that was hailed as a crucial player in the emerging blockchain sector. As WSJ pointed back in 2018, projects like EOS have lured thousands of developers and investors to build decentralized applications (or dapps), but they haven’t been able to attract users.

EOS, cryptocurrency, bitcoin
EOS declines to continue as demand fades | Source: TradingView.com, BitFinex

It is the same factor that is hurting the buying sentiment in the EOS market. Developers need to purchase the tokens if they want to build dapps atop its blockchain. But the lack of users leads those products to fail which, in turn, hurt the demand for the cryptocurrency.

Investors who purchased the first batches of EOS did not see the demand falling. In fact, more and more users entered the market during the crypto boom after reports indicated a rise in dapp transactions on the EOS blockchain.

As it turned out, bot activity contributed to 75 percent of those reported transactions, reported AnChain.AI, an AI-powered blockchain ecosystem security company, in June of 2019. EOS investors also suffered because of claims that the EOS blockchain remains pro-censorship and centralized.

Vaporware

The result of all this is an overhyped, underperforming startup unable to accommodate users. Ever since its initial coin offering, the EOS market cap has slipped about 37 percent from its opening day valuation.

EOS, cryptocurrency
EOS investors among the major ICO losers | Source: Matt Casto

Matt Casto, an analyst at CMT Digital, said that underperforming tokens are turning into vaporware – projects that fail to deliver the intended product.

“Only 33% of tokens that raised at least $50mn trade at a market cap greater than their ICO proceeds,” he tweeted on Tuesday. “The tokens that had less public awareness seemed to have printed massive ROIs relative to their ICO sale price but are now down +95% from those prices. IOTA is one that comes to my mind.”

Time will tell as to whether or not platforms like EOS will be able to attract more users in the future, but presently it remains a significant problem for the blockchain that is likely to continue hampering its price action.

Featured image from Shutterstock
Tweet123Share213ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

XRP Price Corrects After Strong Rally

XRP Price Corrects After Strong Rally — Support Levels in Focus

XRP price started a fresh increase and traded above the $3.00 zone. The price is now correcting gains and might...

Aayush Jindal 4 hours ago
Ethereum Price Rallies Above $3,000

Ethereum Price Fails to Hold Momentum Above $3K — Correction Ahead?

Ethereum price started a fresh increase above the $3,000 zone. ETH is now consolidating gains and might correct lower toward...

Aayush Jindal 4 hours ago

Bitcoin Exchange Inflows Spike After $123,000 Peak – Signs Of Short-Term Cooling?

Bitcoin (BTC) surged to a new all-time high (ATH) of $123,218 earlier today, pushing its market cap beyond $2.4 trillion....

Ash Tiwari 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

memecoins, crypto, trump, memecoin

Top Crypto Exchanges Made $172 Million From TRUMP Memecoin Listing – Report

Rubmar Garcia 2 hours ago
Solana

Solana (SOL) Pulls Back — Can Buyers Defend The $155 Line?

Aayush Jindal 3 hours ago
Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Samuel Edyme 3 hours ago

Premium Sponsors

Press Releases

  • Ove 3 kriptovalute ispod 1 dolara mogle bi pretvoriti 200 USD u milijune do 2027.

    Ove 3 kriptovalute ispod 1 dolara mogle bi pretvoriti 200...

    28 minutes ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    Aceste 3 monede sub 5 lei ar putea transforma o investiție...

    2 hours ago
  • How XRP Users Can Make $1 Million from $100 in No Time at...

    7 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    11 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.