- EOS is up 5% on a daily basis, $5.3 in focus.
- EOS account creation cost is reduced by 25%.
EOS, the 5th largest coin with the market cap $4.8B and average daily trading volume $700M is changing hands at $5.27, 5% higher on a daily basis. The coin is moving in lockstep with Bitcoin and other cryptocurrencies, recovering from the recent slump. EOS/USD stays well above critical $5.00, though the recovery is still slow amid weak buying interest during Asian hours.
While the short-term market movements are shaped by speculative money flows and technical factors, long-term perspectives are defined by fundamentals and ecosystem development. In this sense, EOS has something to write home about. The developers team has been working on reducing the account creation costs and their efforts paid off.
According to EOS New York block producer, EOSIO v1.2.1 update allowed to reduce the cost by 25% so far.
That’s what the company writes in its blog:
“This reduces the recommended minimum amount of KiB one should purchase for a new account from 4 to 3. Furthermore, all existing accounts need only to stake, unstake, or buy RAM to free up 1400 bytes of RAM.”
It is vital to maintain EOS account creation cost at reasonable levels to foster wide adoption and attract new users on the platform. Considering that dApp developers have to pay for the resources they use do deploy their applications on the network, 25% cost reduction removes a lot of barriers to development and promotion.
EOS/USD, 1-hour chart
Looking technically, EOS/USD is capped by SMA50 (1-hour chart) at $5.37. Once it is cleared, the upside may be extended towards $6.00 with SMA100 (1-hour) on approach. On the downside, the strong support is produced by $5.00. The fact that the price regained this level quickly may be regarded as a positive factor. The next barrier is seen at $4.83 (Thursday’s low).
EOS/USD, 1-hour chart
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