EOS dips amid surging EOS RAM prices, block producers crash
EOS slipped 2.2 percent on Monday, a day after EOS New York tweeted that a number of block producers “crashed” amid rising RAM prices. The self-funded top 21 Block Producer on the EOS blockchain said the block producers whose systems crashed after the network’s RAM usage “exceeded 1 GB” were not following the guidelines outlined in their contracts.
CoinGape, a cryptocurrency news outlet, reported that EOS RAM fees have gone up from 0.1 EOS/KB to 0.57 EOS/KB at one point.
The RAM prices have surged as both demand and supply have risen. Prices are expected to further rise, as more developers adopt the digital token's network to build their decentralized applications, driving demand for RAM.
Amid such high prices, Indian crypto exchange Bitbns added RAM for trading on its platform on July 6.
The digital coin was trading at $8.61 as of 1202 GMT, and had risen over 5 percent in the last one week. It has a market capitalization of $7.71 billion and is ranked as the 5th most valuable cryptocurrency, according to CoinMarketCap.
The coin is an alternative to Ethereum, created by Dan Larimer, and is designed for large-scale development of large enterprises.
According to Smartereum, the expectation for the digital currency's prices by the end of this year is at around $37 while the five-year forecast is about $143. Experts believe investing in this cryptocurrency would yield a significant amount of return, as valuation of this platform is expected to rise significantly on account of increasing number of companies using this platform for decentralized applications.
The coin's price can go up from $8.633 to $23.823 in one year. In five years, the price is predicted to be $93.604, according to Walletinvestor.
Meanwhile, according to Cryptosphere , the forecast by the end of this year 2018 is also around $37 and the five-year forecast is about $143.