When we look at the crypto money markets, we see that the assets are recovering at small rates. EOS is one of the assets that experience recovery in price.
What is EOS?
One of the best-known infrastructure providers, EOS is a blockchain-based, decentralized system that enables the development, hosting and execution of commercial-scale decentralized applications.
Founded by the block.one company in 2017, the founder of the platform is Daniel Larimer, who also serves as the CTO of the block.one company.
Launched in June 2017 as an initial coin offering, EOS has raised $2.5 billion in one year in the ICO, making it one of the largest ICO initiatives.
Why is EOS Rising?
Binance, the world’s largest cryptocurrency exchange in terms of trading volume, has completed the integration of Tether into the EOS network and offered deposits and withdrawals for stablecoins on EOS to users. The arrival of USDT on the platform was seen as an important milestone for EOS. The fact that Tether is integrated into the EOS network also means more and easier transactions on the network from now on. Users will now be able to seamlessly transfer USDT inside and outside the network without having to use a third bridge to convert their USDT to EOS.
The integration of EOS into the Tether network is also seen as a testament to the network’s progress in the competitive environment of Web3.
After these developments, there was a steady rise in the price of the asset. The asset, which has increased by more than 5% in the last 24 hours, has lost 12.3% in the past 30 days. This recovery has been a huge boost to the EOS ecosystem.
EOS Price Analysis
Experts think that EOS, which previously reached prices above $ 14 with a market value of more than $ 12 billion, can increase by more than 30% with the support of USDT. Additionally, rumors of potential partnerships with Twitter of the asset’s payment system are also circulating on some news sites. However, these rumors should be approached more cautiously and should not be taken into account when making investment decisions.
For the asset, which is currently priced at $1, if it rises, resistance levels to follow are located in the $1.22 and $1.49 zones. In a possible bearish scenario, the first immediate support for EOS is in the 79 cent region, and our other support level is in the 70 cent region.
