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Why is EOS not rising (Why is EOS falling so sharply in 2020)?

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Why is EOS not rising? Editor\’s note: This article is from Xiaozha\’s talk (ID: x

Why is EOS not rising (Why is EOS falling so sharply in 2020)?

Why is EOS not rising? Editor’s note: This article is from Xiaozha’s talk (ID: xiaonazha88) and has been authorized for reposting by Odaily Star Planet Daily.

Today, around 4 o’clock in the afternoon, the price of EOS started to fall, and at its lowest point, it has already dropped by over 90%; now it is hovering around $9.

Why is this being said? Because there are several reasons in the EOS community that some people believe EOS is not worth chasing after:

1. EOS has a large number of people in its community who are interested in EOS. These people are loyal fans of EOS enthusiasts.

2. The EOS community is quite active, but it also often generates some misunderstandings. For example, recently, I saw a tweet stating that if a development team wants its project to perform better, they may invest their money into their favorite chain.

3. Many friends in the Ethereum ecosystem are now aware of these two terms, but I haven’t heard of the relationship between them. In fact, technically speaking, they are all for making money, not speculation. But if someone asks me how I can believe in it, I don’t know the answer either. (I am a member of the EOS super node b1)

Why is EOS falling so sharply in 2020?

Recently, a wave of “Why is EOS falling so sharply” has occurred in the blockchain industry. According to the data statistics from CoinMarketCap, as of June 2nd, the total market value of all circulating cryptocurrencies with EOS as the leader has dropped to about 140 billion dollars. In the first half of 2020, with the official launch of the EOS mainnet, the continuous rise of EOS on-chain data, and the continuous improvement of the EOS ecosystem, the EOS public chain has gradually matured and developed, causing the prices of public chain projects dominated by EOS to skyrocket and plummet.

Since 2020, with the factors such as the increase in the use of the Ethereum network and developer activities, EOS has always had a high market share; at the same time, due to the low transaction fees of EOS, its price fluctuates greatly (like Bitcoin); in addition, the number of Dapps on Ethereum has grown rapidly, but still has not met the application needs of DeFi. Since the first quarter of 2019, the number of products built on the Ethereum network has increased, while the application scenarios have shown exponential growth. However, despite this, as the usage of the Ethereum network continues to increase, development costs will gradually decrease; in addition, according to Etherscan data, the number of active addresses on the Ethereum blockchain has been declining for the past five months, with Uniswap and Sushiswap being the most prominent, decreasing by 30% and 35%, respectively.

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