EOS (EOS-USD) has resumed its downtrend after a brief period of recovery in Q1 2019. This is not unconnected with the trend that we have seen so far with several altcoins in the market that are paired with Bitcoin (BTC-USD). BTC has gained a lot of strength recently, especially in the last week, where the BTC/USD pair has gained more than $1700. This analysis piece aims to identify the possible price moves as we gradually inch towards the halfway point of the year.
On May 7, 2019, EOS carried out an earlier planned initiative to remove excess EOS tokens in circulation. A total of 34,171,037 EOS tokens were burned, in a move to reduce the inflation rate of the EOS token from 5% to 1%. This move is expected to shore up the value of each individual token and could be a long-term boost for token holders.