EOS (EOS) began a descending trend 53 days ago and despite the recent 27% weekly gain, the altcoin is not showing any signs of a reversal. 結果として, investors are questioning whether the former top-5 cryptocurrency has what it takes to turn around after Daniel Larimer, CTO of the development company behind EOS, resigned in late 2020.

EOS price at Bitfinex in USD. ソース: TradingView

The emergence of competing proof-of-stake smart contract platforms like Solana (ソル), 水玉模様 (ドット) と雪崩 (AVAX) possibly weighed on this 2017-era project. One potentially bullish catalyst could be the fact that Block.one, the company responsible for the EOS token launch, owns over 160,000 ビットコイン (BTC), according to data compiled by BitcoinTreasuries.net.

EOS might not be the preferred smart contract network of the day, but a handful of working finance, ゲーム, 交換, and decentralized social applications are running. The transaction cost for the user is either negligible or usually covered by the wallet or application, which makes it a great contender for nonfungible tokens (NFT) and social networks.

The top decentralized apps on EOS. ソース: DappRadar.com

Having deep pockets is an excellent strategy to land some heavy partnerships and Block.one secured over $300 million from investors, including Peter Thiel, Mike Novogratz and Alan Howard. The EOSIO developer reportedly came up with another $100 million cash injection for Bullish exchange, which completed its seven-week testnet on Sept. 15.

そのウェブサイトによると, all Bullish exchange transactions and states will be validated and stored on EOSIO-based blockchains, enabling instant auditing and upholding integrity. さらに, the company expects to make $3 billion of assets available to the Bullish liquidity pools.

Retail traders lost confidence after September’s crash

To understand how confident traders are about EOS holding the recent $4.50 サポート, one should analyze the perpetual contracts futures data. This instrument is the retail traderspreferred market because its price tends to track the regular spot markets. Unlike quarterly futures, there is no need to manually roll over the contracts nearing expiry.

In any futures contract trade, ロング (バイヤー) とショーツ (売り手) 常に一致している, しかし、それらのレバレッジは異なります. その結果、, exchanges will charge a funding rate to whichever side demands more leverage, and this fee is paid to the opposing side.

Neutral markets tend to display a 0% に 0.03% 正の資金調達率, に相当 0.6% 週あたり, indicating that longs are the ones paying it.

EOS perpetual futures 8-hour funding rate. ソース: Bybt.com

Data reveals a complete absence of bullish bets since Sept. 19 when the cryptocurrency market plunged and caused EOS to drop from $5.25 に $4.15 2日以内に. しかしながら, the recent rally’s inability to boost leveraged longs can be explained by the EOS price being 25% below the $6.40 peak just 30 数日前.

Top traders sold during the recent rally

この期間中にクジラと裁定取引デスクがどのように自分たちを配置したかを理解する, one should analyze the top traderslong-to-short ratio.

この指標はクライアントを使用して計算されます’ 連結ポジション, スポットを含む, perpetual and quarterly futures contracts. This metric provides a broader view of the professional traderseffective net position by gathering data from multiple markets.

OKEx top traders’ EOS long/short ratio. ソース: Bybt.com

上に示したように, インクルード 1.90 long-to-short ratio seen on Oct. 3 still favors longs but is the lowest level since the Sept. 19 価格の暴落. 興味深いことに, 最近の 27% weekly gains happened while the top traders were reducing their bullish positions. その間, 現在 3.0 long-to-short indicator sits slightly below the previous 30-day average of 3.50.

Both retail and pro traders seem unconvinced that the Bullish exchange launch will be enough to break the prevailing bearish trend initiated in mid-August. For EOS to regain investor confidence, it seems essential to show that their decentralized applications are gaining traction as the competition gains ground in NFT and DeFi sector.

ここに記載されている見解や意見は、 著者 必ずしもコインテレグラフの見解を反映しているわけではありません. すべての投資と取引の動きにはリスクが伴います. 決定を下すときは、独自の調査を行う必要があります.