The crypto-markets are in the green this morning. Bitcoin (BTC) is finally back at levels above $9,000 and is trading at $9,180. Ethereum (ETH) is edging closer to $700 with its current value of $684. Ripple (XRP) also looks like touching the $0.90 value today as it is trading at $0.863. Bitcoin Cash is still very much kicking in the 4th position and trading at $1,354.
This then brings us to the new occupant of the number 5 slot according to coinmarketcap.com and by using market capitalization. EOS (EOS) has finally occupied the slot in a comfortable manner as shall be explained.
The token is currently trading at $18.95 with a market capitalization of $15.737 Billion. Cardano (ADA) which is a distant 6th has a market capitalization of $9.29 Billion; which is 59% of the market capitalization of EOS. It is therefore with this analysis that it is safe to say that EOS is now Officially a top 5 coin.
The current momentum evident with EOS might even allow the token to edge out Bitcoin Cash (BCH) from the number 4 position. For EOS to do that, its market capitalization would have to be above the current marketcap of BCH which stands at $23.797 Billion. This means that the value of EOS would have to rise to $27.90.
With the current momentum of the token, this value might be reached by the time the Main Net version of the EOS platform is released in June. The exact date put forth by online EOS fans is June 3rd and with the release, the platform will be able to do the following:
- Support at least 1,000 transactions per second
- Interchain communication as EOS can run several blockchains in parallel
- A blocktime of 0.5 seconds
- Token migration to occur in exchanges
- Election of block producers
- Vertical and horizontal scaling of decentralized applications
- Smart contract capability
In conclusion, EOS is destined for more action in the markets as we proceed towards the release of EOSIO 1.0.