The Enterprise Operating System, known as the cryptocurrency EOS, is in the latest crypto news because of its huge increase which made the coin push more than double compared to the growth of Bitcoin in only a few days.
The base token EOS had been pushing the $3 mark while Bitcoin was trading in the $4,600 range. However, when BTC broke upwards and went above $3,750, EOS went along with it and followed the rise.
As the one-day charts show, EOS is far above the $3 mark and is resting comfortably at $3.62 at press time, demonstrating an even higher surge than the one the altcoin did yesterday. When it comes to the total markets, EOS gained more than 35% in the 5-day period, increasing its price by more than a third.
The total market cap of EOS is still a net loss from the amount raised for its ICO ($4 billion). The market cap right now is coming closer to the ICO amount and sits at $3.28 billion. EOS doesn’t have far to go in this manner – all it needs is another $1 rise and it is even with the ICO prices.
What’s interesting is that of all the smart contract platforms, EOS has some of the highest usages. For all of this, it is hard not to note that EOS is taking some time to pick up real steam when it comes to widespread notoriety.
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“By using Coinify, we are not running into the knife. It is still not clear to me how blockchain is any better than other database technologies. The transactions are so far more expensive and slower than a normal payment method. Decentralization brings only cumbersome improvements. None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works.”Herren said that the decision comes after the prolonged bearish correction on the market where most of the crypto assets lost nearly a third of their value. Despite the fact that investors didn’t really get scared of the decline in prices, institutional adoption is still uncertain regarding making more profits. For example, back in 2018 in June, the Expedia hotel booking platform deleted Bitcoin out of their options and in the same year couple of months back, Reddit also stopped accepting cryptocurrency for its gold membership plans. Years back, Bitcoin became popular because of its attractiveness as a cheaper alternative for expensive payment processors. But as the technology got more popular, the network was unable to handle a higher number of transactions such as Visa or MasterCard and that’s why retailers didn’t choose crypto for making transactions. The Swiss retail giant brings bitcoin back into the retail game. However, traders who are into crypto or those who just hold on to it for better days can now use their coins to purchase something from the retail platform.
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