As more ERC20 tokens turns out to be either exit-scams or abandoned projects (read about the newest one Oyster Pearl exit scam here , EOS has a weekly volume of 175,000,000USD compared to ETH 15,000,000USD. That is more than 10 times higher volume for EOS. And at the same time Ethereum is priced at 5 times higher mcap than EOS.

My take on this: ETH has been around since 2014. In 2017 there was a huge speculative bullmarket mainly due to hundreds of projects being built on Ethereum network. People threw money at anything with a “whitepaper” “roadmap” and an idea. I remember the memes on how people did their due diligence. Whitepaper? Check. Roadmap? Check. Solid buy!

Now, as it turned out of course, some were scams, and some still are – while others are abandoned projects. Without going into detail, most people involved in the crypto space are aware that the ETH network struggles with congestion and slow transaction times. And nothing really seems to happen.

Meanwhile on EOS, transactions are going through at lightning speed. You can dice with auto-bet, and this shows in the numbers. $175,000,000 is not small money. It’s quite astonishing to be honest.

So while 40-50k users on EOS are using the platform daily pushing the volume higher than any protocol has ever seen except Bitcoin, it is only number 5 on CMC at 4,6B USD compared to ETH’s 20B USD.

Does this mean EOS should be worth more than ETH? Yes it does. ETH is about promises, and most of them unfortunately broken at this point. EOS is a fully working fully scaled blockchain. But, does it mean EOS will go up in price? Not necessarily. It could very well mean that ETH is incredibly overvalued. I would bet on that. So hopefully EOS can maintain more of its current mcap than ETH. I do unfortunately, like I wrote yesterday (I wrote that I thought we would see another fall 1 hour before the fall 😀 . of course just “luck”) still believe that the crypto market is currently overvalued. I hate to be such a party pooper, especially in these dark times. And I do realise that many things are priced in, like promises and hope and future utility. But right now, the way I see it, all the other projects are basically working on creating a cheap copy or a worse version of EOS…Sure, EOS is not perfect and it still need some work to be done. But we have seen the capability of the EOS community to adapt and find solutions and make problems short term instead of completely stagnating and crippling problems like ETH.

Either way I think we will see the flippening in 2019. EOS will have a higher mcap than ETH next year. That is my prediction.

What do you think?

Is EOS extremely undervalued or is it ETH that is extremely overvalued?

 

If you liked this you can also check out some of my other articles!

Review of The Different Gambling Platforms On EOS

How to Trybe: The Basics

How I think Blockchain will evolve 

Not a member of TRYBE yet? Join now! referral link

EOSmastering on Steemit

Donations accepted! (eos account) eosmaster1ng

Disclaimer: This is not investing advice. I am not a professional. Just a regular guy talking about cryptocurrencies on the Internet. 

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Responses

      1. Nicholas

        Yep, its clear, but we all know, the volume of cryptokitties is NOT the volume of eth… 😉
        Right now, the fanatic cryptoguys watch only the exchange volume, no dapps, no otc, nothing. Only the exchanges.

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    1. EOSmastering Post author

      Litecoin is so old..if you don’t live under a rock (which surprisingly many people are..) you’ve heard about LTC. It’s like the little brother of BTC. But, EOS is brand new. Mainstream media is not interested. They have to protect their interest which is the status quo. They dont want it to be possible to make money writing as an uneducated person on Trybe. They hate zero cost producers on Youtube who has ten times as many followers as them at almost no cost, staff anything. But we just keep doing what we’re doing, and these dinosaurs will eventually be gone. Things take time to change. This reinvention of gambling and soon gaming will make the headlines soon..and if they don’t who cares. At that point no one will ever read a mainstream newspaper again, because they realise how they were lied to and kept away from investing in the biggest opportunity in their lifetime.

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  1. Zeus69

    Hey, you scaring me “(I wrote that I thought we would see another fall 1 hour before the fall . of course just “luck”) still believe that the crypto market is currently overvalued. ”
    Thanks @EOSMastering, great article though.
    Regards,
    Mark (Zeus69)

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    1. EOSmastering Post author

      Thanks man @zeus69 Well all is not lost..and I really hope I am wrong. It’s just that volume, interest, adoption, utility and TA is pointing towards further downside. As much as I want the market to boom, I just don’t see it happening short term. But on the other hand..what is the potential impact for something like EOS..it could be incredibly massive. Price in the future for EOS and you could talk about mcap in the hundreds of billions – or a price per EOS of 500USD. Not impossible, just not very likely anytime soon. I tend to agree with those who believe that EOS is fair value at 4B. And that it is ETH that is grossly overvalued. We’ll see a flippening for sure..in 2019 I suspect.

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  2. CryptosDecrypted

    I agree that the numbers are compelling. In the short term EOS and ETH may struggle, medium to longterm things are looking much rosier and the gap between the two should narrow even as both prosper (ETH will eventually scale imo).

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  3. Workin2005

    Well said @eosmastering. I think ETH will do well in the future, but it certainly could correct further short term. Still, I don’t see it in the same league as EOS. For all the criticism of EOS, it’s delivered a working product that blows away the competition IMHO.

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    1. EOSmastering Post author

      I don’t know..do they? EOS is just the system..it’s up to the community to evolve it, and I think the evolution we have seen here has been amazing. Airdrops evolved into airgrabs. Now there are staking and dividends. We can trade and rent and lease resources and we have Scatter which is like metamask x 10. Games are being developed and decentralized exchanges popping up. There has not even been many scams. I’m pretty amazed at the level of transparency (thanks telegram) interaction between devs, founders and holders..people get jobs, join projects because they talk to devs on chats..its so cool to watch. People really get the chance for the first time in their life (for many) to really shine. I hope people see how beautiful the free market is and how it enables so many people that otherwise were lost. Sure..people have to take a lot of responsibility to enjoy freedom..but thats a learning process. When it comes to the threshold of joining EOS..well, its not that hard if you are all ready in crypto. Buy EOS, create a wallet, send to that wallet. Download scatter and import private keys. And you’re good to go.

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