Of all the major cryptocurrencies, EOS has the most potential to outperform the market this year, according to Finder.com’s latest survey of fintech leaders. In fact, with the exception of Monero, all major coins are poised for at least double digit growth.
A Bright Future for Cryptocurrency
Despite a difficult six months, cryptocurrencies prices are due for a big rally in the latter half of 2018. Finder’s panel of ten crypto experts believes EOS will gain more than 200% between May 30 and Dec. 31, 2018. In doing so, it far outpaces all other digital currencies in terms of growth.
Coming in at second is Tron (TRX), the hyped up content creation ecosystem that has been subject to pump-and-dump speculation. (Tron’s price has somehow managed to skirt accusations that the project’s founder, Justin Sun, plagiarized a whitepaper and sold off billions of TRX tokens.) TRX is projected to grow 146% by year end.
At no. 3 is Cardano, whose ADA coin has managed to overcome recent downward pressure on the market. That comes as a breath of fresh air to ADA holders, who have been subject to huge losses since early May.
The cryptocurrency is benefiting from the launch of its first smart contracts testnet, which puts the project one step closer to fulfilling its vision.
Vaibhav Namburi of Five2One believes Cardano offers one of the best value propositions on the market, referring to it as “A smart solution to one of the biggest problems blockchain is facing: scaling.”
The consensus is betting on ADA growth of 145% by Dec. 31.
The fourth and final cryptocurrency on the list projected to grow triple digits is VeChain (VEN). The Internet of Things cryptocurrency has landed some reputable partners ranging from PwC to DNV GL, a risk management firm. It is forecast to grow 129% by year end.
Analysts predict VEN to rise in lockstep with bitcoin. The coin may also benefit from the growing hype surrounding IOT applications.
At 95% growth, bitcoin’s value is set to virtually double between May 30 and the last day of the year.
On Monero, analysts believe that it is being slowly overtaken by Zcash, another privacy coin that is becoming more widely accepted on exchanges. However, Clayton Daniel of Sproutsuper.com.au believes there’s still potential for the future:
“The moment people add value to increased privacy to expenditure, Monero will be in high demand. This could take years though,” he said.
The full prediction table is provided below:
|Cryptocurrency||May 30 Price||Price Prediction: July 1||Price Prediction: Dec. 31||% change to July 1||% change to Dec. 31|
The Rise of EOS?
EOS has catapulted into the spotlight recently as the project concluded its year-long crowdsale. After raising $4 billion, the cryptocurrency is looking to scale like no other project has before.
Dubbed the “Ethereum killer” by some, EOS is competing to become the next platform for building applications. However, getting there won’t be easy.
For starters, the mainnet launch has failed to go ahead as planned with multiple delays pushing back the implementation timeline. Since Block.one concluded its crowdsale, the EOS network has been a tremendous source of confusion for token holders.
It’s also important to note that the mainnet “launch” isn’t really a launch in the traditional sense of the term. Rather, it simply refers to the dissemination of the new software code and not the introduction of the new network.
The last status update provided by EOSCountdown.com occurred over two days ago. At the time of writing, EOS tokens remain frozen amid preparation for the mainnet, which is currently without a date.
Experts polled by Finder believe the mainnet distribution will eventually be sorted out, putting EOS on track for huge gains. This puts Ethereum potentially at risk of being overtaken.
“Ethereum is at risk of other coins like EOS doing the same thing, but better,” said Fred Schebesta of Finder.com and Hiveex.com. We’ve perhaps already seen the best growth we’re going to see from Ethereum in a while.”
Year-end price predictions for EOS range from $23 to $50. At present, it is valued at $14.72.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.