EOS
About EOS
The price of EOS (EOS) is $0.47670446 today, as of Sep 01 04:40 a.m., with a 24-hour trading volume of $41.57M. Over the last 24 hours, the price has decreased by -2.12%. EOS currently has a circulating supply of 1.51B and a market cap of $720.68M.
EOS is the native cryptocurrency of the EOS platform, which supports the EOSIO blockchain platform.
EOS was announced in 2017 by blockchain incubation and investment firm Block.one and was released as an open-source software in June 2018. As outlined in the EOS white paper, the project was created to build decentralized applications (dapps) with a focus on efficiency and scalability.
EOS holds the record for the largest initial coin offering (ICO) to date. Starting in June 2017, Block.one held a yearlong ICO for EOS, raising a record 7.12 million ETH, the native token of the Ethereum blockchain, valued at $4.2 billion at the time. The token sale featured 350 distribution periods of at least 2 million tokens a day, totaling 900 million tokens by the end of the ICO. Ninety percent of the total EOS tokens were distributed to ICO participants, while the remaining 10% were reserved for the EOS team.
Because the EOS blockchain was still under development at the time of the ICO, Block.one issued EOS tokens on the Ethereum blockchain using the ERC-20 standard. On June 2, 2018, ERC-20 based EOS tokens were frozen, and they were replaced with native EOS tokens on the EOS blockchain via a token swap that took place on June 16.
EOS is an inflationary asset with an uncapped supply. The blockchain’s delegated proof-of-stake (DPoS) model generates EOS through staking rewards in order to fund transactions and pay block users. The DPoS mechanism has an inflation cap set at 5% of annual inflation.
EOS price has a long history of prolonged periods of sideways activity intersected with brief price increases and decreases.
Two days after it was launched, EOS’ price surged 996% to $5.50 before sharply falling 79% over the following 13 days. From there, the asset remained range-bound at between $0.45 and $2.0 for about four months until the late 2017 crypto bull run started to take effect. By Jan.18, 2018, EOS price peaked at $18.69 before crashing to $4 by the end of March.
A second resurgence in April 2018 pushed EOS’s price to its all-time high of $22.89. By the end of 2018, the crypto asset had experienced a significant wave of selling as investors lost confidence in the project, leaving EOS down at $2.59. Over the next two years, EOS; price rarely peaked above $5, except for a brief spike to $8.60 in May 2019.
In April 2021, EOS broke above $14.71 as a new bullish cycle took over the crypto market. That was the highest price in almost three years.