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The EOS price has soared 8% in the past 24 hours to trade for $0.8857 as of 02:08 a.m. EST.
Trading volume has also exploded nearly 300% coming on the back of the EOS network’s new tokenomics. CEO @BigBeardSamurai proposed on X a new tokenomics model that burns 80% of the future total supply.
– Burn 80% of future total supply 🔥
– Turn off inflation
– Cap supply at 2.1B tokens
– 4 year halving cycles
– Mint ~950M $EOS
– Staking rewards w/ lockups
– $RAM market supportI'll be meeting with the BPs this evening to propose the new tokenomic model for #EOS 🚀
View… pic.twitter.com/jcFntvwCBy
— Yves La Rose (@BigBeardSamurai) April 24, 2024
The proposal is intended to solve key problems on the EOS network’s tokenomics. First, that a large number of inactive users’ EOS is dormant in centralized exchanges (CEX), while truly active users on the blockchain and new users have not received effective incentives.
It also aims to solve the concern that there is no positive flywheel in the bull market to help use low circulation and low market cap ecosystem projects to absorb EOS inflation.
Finally, high liquidity with the expectation of inflation increases the difficulty of market making, and the market value ranking of EOS continues to decline.
Proposed Solutions
- Utilize EOS to incentivize active users and new users with new mint tokens, while activating inactive users.
- EOS + RAM with positive flywheel, continuously absorbing EOS inflation, activating ecosystem vitality.
- Stop inflation with 2.1B token supply cap, burn approximately 80% of the future total supply.
EOS Price Prediction As Network Proposes Tokenomics Revamp
The EOS price is stuck in the lower section of the market range, but the upside potential appears capped because of the spiking volume of bearish activity (grey toward the right side of the chart).
The Relative Strength Index (RSI) remains subdued below the ‘50’ mean level, suggesting bearish sentiment abounds. This is reinforced by the Moving Average Convergence Divergence (MACD), which remains in negative territory.
Unless the bulls can haul the EOS price past the 50% Fibonacci placeholder at $0.9999, the EOS price risks a correction that could see the altcoin drop to the $0.7798 support level. This is an area where there is a lot of bullish activity. The large spikes in the bearish volume profiles show this (yellow) on the chart below.
If this support area fails to hold, the altcoin could fall to the grey area of the volume profile where bearish activity abounds. Here, seller momentum could invigorate the fall to send the altcoin lower. In a dire case, the EOS price could drop all the way to the $0.6361 base.
TradingView: EOS/USDT 1-day chart
On the other hand, enhanced buyer momentum could see the EOS price push north. A decisive candlestick close above $0.9999 on the daily timeframe would invalidate the bearish thesis. Enhanced buying pressure could send the EOS price above the $1.1000 level, or higher, reach for the $1.2000 threshold.
In a highly bullish case, the EOS price could reclaim the range high of $1.3612, levels last tested on March 7. Such a move would constitute a climb of around 55% above current levels.
Meanwhile, traders are flocking to buy 5SCAPE, a world-first AR/VR presale that’s already raised more than $5.5 million.
Promising Alternative To EOS Token
5th Scape is out to be a game-changer in the VR and AR space, bringing in a new age for this technology.
The project focuses on VR games with the currently in-development Cage Conquest MMA a key part of its plan.
Exciting update from #5thScape! Cage Conquest, our inaugural game, is on track for its release in Q2 as planned. Our team is actively working on listing it on the meta store for beta testing 🛠️, aiming to gather crucial feedback for an enhanced experience. Get ready for an epic… pic.twitter.com/lgUIod5vCj
— 5th Scape (@5th_scape) April 22, 2024
There are plans to feature other forms of VR and AR content as well, including educational experiences, social applications, and creative tools.
🌟 Unlock new dimensions with 5th Scape! Dive into adrenaline-pumping battles, precision archery, and high-speed racing—all within the limitless virtual realm. Holding 5SCAPE tokens unlocks exclusive benefits like free games, discounts, and seamless in-world transactions.
The… pic.twitter.com/LNO30KXRPW— 5th Scape (@5th_scape) April 20, 2024
5th Scape’s 5SCAPE token is a utility token within the ecosystem. Token holders have unlimited access to premium VR content, voting rights, and potential staking opportunities for holders.
Step into new worlds of imagination. 🕹️🚀@5thScape is building a next-gen #VR and #metaverse ecosystem to redefine virtual reality.
Collect rare digital assets. The possibilities are endless!
Join the community – https://t.co/ewBcsEeltG#gaming #innovation #blockchain pic.twitter.com/hUe3cDDYnT
— 5th Scape (@5th_scape) February 11, 2024
5SCAPE Token Use Cases
The 5SCAPE token has multiple use cases. For starters, it provides access to premium VR content, such that holders receive exclusive access to games, experiences, and features within the platform.
It is a Play-to-Earn (P2E) token as well, with this mechanism enabling players to get incentives with 5SCAPE tokens that can be traded upon listing.
The project plans a staking mechanism, with details to be unveiled later.
5th Scape Project Tokenomics
With a total token supply of 5.21 billion, the 5th Scape presale aims to sell 80% of the whole 5SCAPE token supply, with a fundraising goal of up to $15 million.
With 5SCAPE set to list at $0.01, buying now at $0.00327 locks in gains of almost 206% by the time of launch.
Also Read:
- The VR Industry Is All Set To Receive A Massive Boost Thanks to 5th Scape (5SCAPE)
- If You Believe In The Future Of AR/VR, 5th Scape (5SCAPE) Is The Best Project To Invest In
- How To Buy 5th Scape – 5SCAPE Token Presale Review
- 5th Scape Crypto Price Prediction – 5SCAPE Price Potential for 2024
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