While many of us are accustomed to using centralized cryptocurrency exchanges to buy digital assets as well as conduct various transactions, cryptocurrency was originally conceived as digital money operating on a decentralized network. Launched in 2009, Bitcoin was a pioneer in the world of digital assets. However, 6 years later, it had a serious rival in the face of Ethereum, a decentralized financial system offering benefits in the form of smart contracts and dApps (decentralized applications). Since then, the cryptocurrency space has been flooded with thousands of projects with various types of native tokens. And if you are a crypto investor, choosing the next new token with good potential for further growth is a daunting task.
High volatility is one of the problems of cryptos that discourages those who want to store their wealth in digital assets. However, relatively recently, stablecoins, tokens with a stabilized price by linking to national currencies or commodities, have entered the crypto scene. And to enable traders and investors to seamlessly exchange stablecoins with little slippage, Ellipsis Finance was introduced in 2021. As a decentralized stablecoin exchange, Ellipsis Finance has attracted the attention of many crypto enthusiasts. Below, we will discuss the features of the Ellipsis Finance platform, its native EPS token (and its current value), and provide EPS price prediction for those considering this coin as an investment vehicle.
Launched in 2021 and is an authorized fork of Curve Finance, Ellipsis Finance is a decentralized Stablecoin exchange based on Binance Smart Chain. Unlike many other DEXs, Ellipsis leverages pools of liquidity to provide low-slippage, seamless execution of large volumes of exchange transactions. The liquidity providers in Ellipsis are the people who make deposits and receive liquidity tokens in return. The pooling system used on the platform resembles those used by PancakeSwap and Uniswap. Based on Binance Smart Chain, this crypto platform provides high security and less slippage, making it a very promising crypto project.
Supported by Curve Finance, Ellipsis (EPS) benefits from Ethereum offering many advanced tools such as smart contracts. Initially, the creators of Ellipsis introduced EPS as a native token platform and many were interested in EPS price prediction for the near future. However, in April 2022, an update was announced with the release of the EPX token. Although EPS is still available, de-facto EPX has become its successor token. The release of the updated version of the platform demonstrated the Ellipsis team's commitment to innovation. For example, the new version of the platform has improved scalability as well as offering faster and more secure transactions. A key feature was the introduction of smart contracts, allowing users of the platform to automate a multitude of tasks.
As the first Ellipsis native token, EPS hit the market in the spring of 2021. It has been a good year for the cryptocurrency space as many tokens have seen significant price increases. And this excitement around digital assets has helped EPS achieve meaningful results in the market. Investing in EPS allows you to earn from transaction fees. In addition, depositors contributing to the liquidity pool receive a portion of the profits of the decentralized Ellipsis exchange. In addition, EPS holders have access to some of the management features of the platform. Each EPS token holder gains voting rights in the governance of the platform. The more tokens a user has purchased, the stronger their voice. Ellipsis also rewards those who have agreed to hold their tokens for 90 days or longer with commissions. On the other hand, digital coin locking can be a potential barrier for those who wish to gain earlier access to their tokens. With several uses and a rather high price at the start, EPS has attracted the attention of many crypto enthusiasts and investors, and therefore the initial EPS price prediction was very optimistic.
EPS is a very young token, which on the one hand was lucky to be born when the crypto market was booming. On the other hand, 2022 was a very bad year, as the Russian military invasion of Ukraine had a very negative impact on the global economy and the cryptocurrency market in particular. At the end of March 2021, the EPS of the coin stood at a record $21.30. However, a price correction followed as the market saw EPS as an overvalued digital asset. So, on March 25 (the day after it peaked), the coin dropped to $2.50. However, April 2021 marked a recovery in EPS value and the coin was trading at around $7. Another decline followed, and by mid-summer, the coin was available at an extremely low price of just $0.40. In August, there was a turning point due to increased user interest in NFT. On the back of good news coming from the market of non-fungible tokens, the coin's price briefly crossed the $1 mark. However, the EPS price prediction (based on the analysis, the prediction of the average figure) was not very optimistic and even the new Bitcoin price record did not save EPS from falling.
As mentioned above, 2022 was a very bad year. In addition to the Russian military invasion of Ukraine, the cryptocurrency market was negatively impacted by China's ban on digital assets. By May 2022, the price of EPS was just over 15 cents and continued to fall. Around that time, EPX, a token issued on Ellipsis 2.0, was introduced. At launch, the new version of EPS was priced at only about $0.0017. Further bad news about the unlinking of the UST value from the underlying asset (the US dollar) led to a drop in the value of EPX. As a result of another collapse, by early summer 2022, the coin was trading at just $0.00071. All these factors worsened the EPS price prediction (based on the analysis, the prediction of the average figure) and therefore many investors turned their backs on the Ellipsis project. In September, another price low of $0.00039 was reached.
As a v1 token, EPS is still available at the time of writing. It is trading at $0.0281 (current price) with around $300,000 in daily trading volume. Notably, CoinMarketCap and CoinGecko, two reliable sources with data on digital assets, have not published any data on EPX. This indicates extremely low interest in the platform from both experts and the community. However, with a capitalization of around $20 million, EPS is still a promising token. And so it makes sense to look at EPS price prediction to find out whether this digital asset has the potential to grow further.
So, keeping all of the above in mind, let's take a look at EPX (Ellipsis) price prediction for the near future. Before we proceed with the prediction (based on the analysis, the prediction of the average figure), it is worth pointing out that EPX is a very young digital asset. That means that any EPS price prediction (based on the analysis, the prediction of the average figure) can be very inaccurate since it doesn't take into account many different factors and things which may occur in the future. Keep in mind that most crypto experts create price predictions using a special algorithm that only takes into account technical characteristics, leaving out features like project goals, roadmap, growth rate and others. So, here is what crypto experts say about the future of Ellipsis and EPS:
While EPX does not look like a promising investment vehicle, EPS could be a more interesting option for those looking for a digital asset to put their money into. According to some experts, EPS could reach $1 in 2023. However, we think such EPS price prediction is too optimistic considering the current state of the crypto market.
Cryptocurrencies are highly volatile digital assets. This means that even investing in strong market players like Bitcoin and Ethereum always carries a high risk of losing money. There are plenty of crypto investors who are constantly on the lookout for new and promising options to buy. Bitcoin has long gone through a phase of rapid growth where its price has gone from almost nothing to several thousand dollars. And the main goal of such investors is to find projects with potential comparable to what Bitcoin once had. Before investing in Ellipsis and similar projects, you should not only familiarize yourself with EPS price prediction but also do some research with the following things in mind:
Finally, learn about the uses of the cryptocurrency you are considering. The more use cases for a digital asset, the higher its intrinsic value, and the more prerequisites for its adoption by users and investors respectively. As for EPS, it has several use cases. By providing liquidity pools, you will be able to earn a portion of Ellipsis' profits. In addition, as a token holder, you will be able to participate in the management of the platform.
There are many factors to consider before deciding whether to invest in EPS, including the project specifications and technical documents. In addition, you need to look at the project's latest news and find out how successful the team is in realizing its goals. Today, the crypto space is 18,000+ tokens of various types. Among them, there are both promising digital assets and tokens launched just for the purpose of fundraising. Many crypto projects fail as their teams lose credibility and stronger competitors emerge. Potential vulnerabilities in the protocol, loss of community support and poor media coverage are also factors that cause cryptos to fail. Being too young a project, Ellipsis is difficult to properly evaluate. So, you should not rely solely on EPS price prediction to make investment decisions.
It is a decentralized stablecoin exchange launched in the spring of 2021. The main purpose of Ellipsis is to enable users to exchange tokens securely in Binance Smart Chain with minimal slippage.
It is a digital asset with a value that is linked to some other currency that has a more stable exchange rate, or to a commodity or financial instrument. Introduced as an alternative to traditional digital assets, stablecoins are able to withstand market volatility.
This crypto exchange was created by Mainul I Mondal, who is also known as a member of the World Economic Forum.
Ellipsis is a fork of Curve Finance, a platform that has been audited by MixBytes and ChainSecurity and continues to support Ellipsis. In addition, the Ellipsis platform has been audited by Hacken. However, this platform uses smart contracts which always carry certain risks.
EPX is a new version of the native platform token released after the launch of an updated version of Ellipsis Finance. Despite the release of the new version of the token, EPS is still available for purchase.
There is an EPS price prediction which promises a great future for Ellipsis. However, most of the predictions about the token's price are subdued or pessimistic, and this is largely due to the difficult situation in the cryptocurrency market in general.