Finance

EOS price analysis: EOS/USD spikes above $9 as crowd waiting for eosDAC airdrop

  • EOS gained more than 44% in two days ahead of the airdrop.
  • The upside is likely to be short-lived.

EOS price spiked by more than 44% percent on Wednesday, outpacing all major cryptocurrencies and continued growth on Thursday, The coin touched $9.1970 – the highest level since February 20 – during early Asian hours. Currently, EOS/USD is trading at $8.8280, with 3.5% gains on the day. 

EOS amazing rally seems to be associated with the upcoming eosDAC airdrop, scheduled on April 15. All Ethereum wallets with at least 100 EOS tokens will be credited the equivalent amount of eosDAC tokens on the specified date, according to the official statement of the project. Considering that only those who have at least 100 EOS will qualify for airdrop, the upcoming event might have triggered the feverish demand on EOS tokens. 

“All Ethereum accounts that have 100 or more EOS tokens in them at the snapshot on the 15th April will automatically receive the airdrop. Any accounts with less than 100 tokens will not automatically receive the airdrop but will be eligible (until 15th May 2018) to apply through a method, which will not require any personally identifiable data, detailed closer to the date of the snapshot.”

If this is the true reason for EOS stellar rise, then will see a similarly sharp drop as soon as the airdrop is over. We won’t be surprised to EOS collapse in the beginning of the next week.

EOS/USD, the daily chart

View more information: https://www.fxstreet.com/cryptocurrencies/news/eos-price-analysis-eos-usd-spikes-above-9-as-crowd-waiting-for-eosdac-airdrop-201804120513

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