EOS, the coin that powers EOS.IO, could be one of the most popular cryptocurrencies in 2021.
Most investors are now intimately acquainted with Bitcoin. You’re probably well-versed on Ethereum. Other altcoins, such as Cardano, are catching on.
EOS could be the future cryptocurrency.
If you want to make money with cryptocurrencies, you should keep this altcoin on your radar.
Can EOS Be Profitable?
At its core, EOS is concerned with resolving issues discovered on the blockchains of other cryptocurrencies.
One of the significant issues that cryptocurrencies confront is that some networks execute transactions exceptionally slowly. Consider how crucial it is for people to adopt and use a currency. In fact, a one-minute delay in completing a transaction may discourage users from using the coin.
According to CryptoVantage, even the lauded Bitcoin takes an average of 10 to 20 minutes to conduct a transaction. Therefore, it could take up to an hour.
One of the primary reasons Bitcoin has evolved into a store of value investment rather than a potential rival to the currency. It also creates a significant hole in the cryptocurrency sector for a coin that can compete with traditional modes of payment in terms of speed and reliability.
The widespread use of cryptocurrencies to solve everyday problems ranging from spending money to transferring money overseas to smart contracts is the fuel driving cryptocurrency values higher and higher. Truly, a barrier to public adoption is a barrier to profit.
EOS is working to address this issue.
In actuality, the network’s goal is to process millions of transactions per second.
That is, it meets two of Money Morning’s top cryptocurrency analysts, Tom Gentile’s significant criteria for a lucrative cryptocurrency to purchase: It provides users with value and is functional.
Tom noted that a free blockchain that can process millions of transactions per second is desirable and useful.
The EOS price is currently trading just inside its 52-week average of $2 to slightly more than $7 per coin, hovering around $6.50.
Tom is a trader as well as a bitcoin expert. He’s not just looking for cryptocurrencies with high adoption potential; he’s also looking at their price movements to ensure that there’s upside potential and that the time is appropriate to acquire. For Tom, EOS is trading within its 52-week average is critical for investors to keep an eye on the coin.
Thus, he says that he would not be surprised if anything significant happened.
A rise in institutional investor interest is paving the way for a boom in many minor digital currencies.
But keep in mind that these under-the-radar players are far less expensive than Bitcoin.
Some are so hot that even a tiny bet might turn into a modest fortune by 2021.
One is currently trading for $5 and can generate a 328 percent profit in a matter of years.