EOS: Slowing Down, Will it Hurt Eager Buyers?

The EOS project sees the asset appreciate wildly, with no actual news in sight beyond hype.

EOS remains both attractive and frightening, once again attempting a gain to stand above $18. But some believe the run would fizzle out soon. One indicator is the lowered EOS trading, sliding slightly to around 12% of all crypto deals. Not even the Asian market activity could repeat the $20 price.

EOS gained around 11% overnight to $18.80, with volumes near their peaks, with only a slight retreat. But some see the asset slide to as low as $14 before attempting another climb.

Social media users are warning against jumping onto the EOS train, with the belief that the price climb is a concerted manipulation.

https://twitter.com/8bitandstuff/status/989875197963620352

Since the EOS ICO is sitting on a lot of Ethereum, some skeptics believe the project may be pumping the price of the token deliberately, especially given that the EOS wallet is frequently seen moving tokens to exchanges. The trades afterwards cannot be traced, since they happen off the blockchain.

The EOS daily auction price slid immediately from peaks near $19 to $15 after the markets saw selling. EOS auctions usually move in coordination with the markets.

EOS has a peculiar trading profile, as Tethers (USDT) give the coin a boost in the past days. But EOS is also tied to BTC, meaning any setback in BTC may stem the climb. The rise in EOS prices is highly dependent on the influence of BTC. In BTC prices, EOS is slightly lower, at $18.70, and trading with a premium in USDT markets.

But recently, EOS gained a small fiat on-ramp, through the PayFair escrow platform. This would allow even newcomer investors to purchase EOS. At this point, it would be better to buy EOS from a big exchange, to be able to register the coins. Buying EOS before the mainnet launch creates technical difficulties for registration.

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