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 Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • 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 Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

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

Ethereum

Ethereum Daily Chart Turns Green As ETHBTC Prepares For Lift-Off

In a recent post on X, crypto analyst CRYPTOWZRD shared a bullish daily technical outlook for Ethereum (ETH), highlighting a...

Godspower Owie 3 hours ago
Dogecoin

The Dogecoin Bullish Reset: A Clear Roadmap To $0.35

Dogecoin’s price action over the past week has seen it trending upwards. This movement has seen the meme cryptocurrency make...

Scott Matherson 4 hours ago
Bitcoin

Bitcoin Flips Key Support, Bulls Now Target $117,000

Bitcoin (BTC) has reached a critical turning point, successfully flipping a key horizontal support zone that previously acted as resistance....

Godspower Owie 6 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

Crypto airdrop season begonnen - belangrijkste ETH airdrops van 2025 onthuld

Crypto airdrop season begonnen – belangrijkste ETH airdrops van 2025 onthuld

Lars Diederiksen 55 minutes ago
Bitcoin

Analyst Says Bitcoin Is A Strong Buy If It Overcomes $118K — Here’s Why

Opeyemi Sule 27 minutes ago

Kommt 2025 noch eine Altcoin Season?

georgsteiner 2 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望:ビットコイン提携とETF開始で次の暗号資産の巨人となるか

    ドージコイン...

    19 hours ago
  • 鯨が一晩で4,000万XRPを売却、リップル 今後は3ドルのサポートを維持できるか

    鯨が一晩で4,000万XRPを売却、リップル...

    19 hours ago
  • 暗号資産トレジャリーの苦境とQ4に狙う仮想通貨プレセール

    ...

    20 hours ago
  • 10月に上昇が期待される仮想通貨おすすめ6選

    ...

    20 hours ago
  • 新しい仮想通貨が投資家を最速で億万長者に導く ― 既存の「買うべき仮想通貨」を超えて

    ...

    20 hours ago

Newsletter

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.