EOS has had quite a stunning couple of days, with double digit jumps making it briefly the 5th largest cryptocurrency in the market. It has since slipped back to #6, but continues to do well, and may very well regain its position in the top 5 soon.
Much of the growth is from the fact that there is an Airdrop scheduled for April 15th. Anyone holding 100 EOS in their wallet as of the 15th will receive an equal amount of eosDAC. Many investors believe that these are both going to be very profitable options in the long run, and having the option to get the free eosDAC’s is almost irresistible.
Despite the rapid price increase over the past several days, many people still look at this as a great buy due to the airdrop option. Of course, the entire crypto market is looking quite green too, which helps to further push this coin up on the positive news.
If you are thinking about investing in EOS before the airdrop, however, it is important to keep in mind that immediately after the airdrop has been completed, there may very well be a selloff. Those who bought in only to get the free currency from the airdrop may want to sell off quickly so they can get into other projects.
In situations like this with other coins in the past, this has resulted in a quick drop, and potentially FUD fueled selloffs. Given that EOS is one of the top tokens, however, may help give it some stability.
Regardless of what happens, EOS has had a great week, and may very well have several more days of green.
