EOS has been tagged as an Ethereum killer on several occasions. The reason being EOS allows its users to build an application on top of its network. The numbers in February show something similar, but the question is how close EOS is when it comes to surpassing Ethereum in the global market.
The total value locked has gained more than 200% in February, but it still has a lot to cover before it officially kills Ethereum.
The TVL of EOS rose by 273% in the last month.
EOS stood at $69.54 million at the beginning of the month. It went on to be at $273 million on February 23. The growth continued as of March 01 when the figure was $283 million, representing an increase of 9% over the month.
There is a bit of a struggle for EOS when it comes to trading on the market. Its current value is $1.98, down by 13.57% since the past seven days as at the time of press. Based on EOS coin price prediction, the value of EOS is estimated to reach $4 by the end of the year, but the journey to that figure is difficult at the moment.
Even though EOS gained in total value locked, it lost 56 ranks in the global market as per its market capitalization. Experts say that Ethereum and other major networks also negatively affected the position of EOS, costing the network its position in the list of top assets.
When compared to Ethereum, the total value locked for EOS is somewhat unimpressive. Considering the fact that Ethereum has got billions of dollars locked in the market, EOS clearly has a long way to go before it surpasses Ethereum. EOS enthusiasts are still disappointed over this fact.
EOS has had one of the biggest ICOs, raking in more than $4 billion to the network.
EOS is now making progress with two of its major contributors, namely EOS REX and DeFiBox, the two DeFi lending dApps.
EOS has a long way to surpass what Ethereum has achieved. There will always be doubts over its performance, but the continuous process of improvement is sure to bring it back in the list of top-performing assets in terms of market capitalization.
The future for EOS is also bright because lending platforms now exist on the EOS network, something that many expect to cause the network to bounce back.
