EOS has been presented as a replacement of Ethereum, but its price climb once again looks unsustainable. EOS broke above $20 again before starting to slide - and triggered new talks of displacing Ethereum. EOS, which has a supply about 10 times larger than Ethereum, is still far from the three-digit prices. However, Ethereum just a year ago was in the price range of EOS.
The extremely active EOS trade on OKEx may be one of the reasons why Tethers (USDT) are rising in volumes. EOS is paired with the fixed-price token, and profit taking or stop losses are showing that the USDT is a necessity when it comes to securing crypto gains. In the case of EOS, the wild series of volume records, unprecedented BTC and dollar prices, may be broken by skeptics. The involvement of Brock Pierce in the project, the talks of price manipulation, and the potential troubles around the elections for block producers may shake the confidence in this project.
I agree to some extent, but note that Ethereum had an active main-net while EOS still has to go active (EOS software is already available for test net though, and all seems well on the surface at least).