Ellipsis price prediction: Major upgrade for the swap platform

• Updated

Ellipsis holders can migrate to the new EPX token

The Ellipsis logo overlaid on a world map                                 
The swapping platform’s fees are split evenly between EPS holders and liquidity providers – Photo: Shutterstock
                                

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Ellipsis Finance launched last year to allow investors to securely swap tokens on the Binance Smart Chain with little slippage. It has recently started implementing a new upgrade for it to continue achieving this goal.

However, this second version of the platform involves its token EPS migrating to a new cryptocurrency under the ticker EPX. While both EPS and EPX have been largely downtrending, what might happen to the EPS token? And what does that mean for an Ellipsis price prediction?

What is Ellipsis (EPS)?

Ellipsis Finance originated as an “authorised fork” from the Curve Finance protocol. This new project allows users to swap coins on the Binance Smart Chain, which it claims is secure and has low slippage.

The ecosystem uses a pool system that is similar to PancakeSwap and Uniswap. Investors can stake tokens into these pools, which provide liquidity for users wanting to swap their tokens.

Launching as a fork from the Curve Finance protocol has proven to have its advantages. Its whitepaper states: “The Ellipsis team will receive support from the Curve Finance team and will commit to Curve Finance core values: a trustless and decentralised architecture, zero deposit or withdrawal fees, no lock-ups on liquidity and extremely efficient stable coin exchanges.”

However, in exchange for this agreement, holders of Curve’s veCRV token will receive 25% of the total supply of Ellipsis tokens, which were airdropped over the past year.

The EPS token

One cryptocurrency in particular is central to Ellipsis Finance, the EPS token. The main use of its native token is for investors to stake it and earn fees from the swapping platform. It can also be utilised when an investor locks in tokens to the liquidity pools, making them eligible for a share of the profits in the EPS coin.

Ellipsis finances this by charging a trade fee every time a user exchanges one cryptocurrency for another. These fees are split in half between liquidity providers and EPS stakers.

However, the drawback is that the newly minted EPS rewarded to investors has a vesting period of 90 days. If recievers want to withdraw the tokens before this period ends, they will be charged a 50% early exit penalty.

Ellipsis price history

The Ellipsis swapping platform and its token saw impressive initial growth after it launched in March 2021. Towards the end of the month, $750m of funds was locked into the crypto project.

EPS saw considerable volatility on its first day, according to CoinMarketCap. It opened at $19.45, rose to a high of $21.29, sank to a low of $2 and closed at $2.16 – all on 24 March 2021. Aside from this, the token saw steady growth as it climbed to a high of $5.65 six days later on 30 March.

This surge continued into the following month. Ellipsis saw its total value locked (TVL) rocket to $2.89bn on 4 April 2021. On the same day, EPS reached a high of $6.19.

While the TVL climbed even further later that month to $3.46bn, the token did not see the same trend. EPS dropped to a low of $2.44 by the end of April 2021 and continued depreciating for the rest of the year.

The growth in the swapping platform eventually fell victim to the same bearish pattern. By the end of 2021, the TVL was fluctuating between $500m and $600m.

EPS reached its all-time low of $0.09438 on 13 May 2022. This came after the crypto crash that sent shockwaves into the decentralised finance (DeFi) market.

The new upgrade

Ellipsis Finance announced in April 2022 that it was upgrading to version 2.0 of the platform. Along with this update came news of a new token under the ticker EPX. This was designed to be an improved version of EPS.

New features were unveiled for EPX, along with the existing functions of the original EPS token. Holders of the new token are able to have more of a say in the Ellipsis Finance ecosystem. For example, they are rewarded for gauge voting, where holders determine the token rewards per liquidity pool.

EPS holders were able to migrate their token to the new EPX upgrade on 23 May. EPS has largely fallen over the remainder of 2022, and as of 26 July 2022, EPS is trading at $0.1826.

EPX hit an all-time low of $0.0004593 on 18 June but is currently trading at $0.0005358 (up only 16% from the all-time low). 

But does it have a future after the migration is completed? Let’s take a look at the Ellipsis price prediction.

Ellipsis (EPS) price prediction

The long-term bearish trend experienced by the swapping token has led to some pessimistic EPS price prediction forecasts. WalletInvestor calls it a “bad” one-year investment, with the token expected to drop to $0.01 in a year. Its Ellipsis price prediction for 2025 says it will stoop even lower to $0.009.

The Ellipsis crypto price prediction from DigitalCoinPrice suggests a gradual upward trend but says a new all-time high is out of the picture. The token is expected to hit $0.36 in 2025 and $0.83 in 2030 but will not surpass $1 again this decade, according to the site’s Ellipsis coin price prediction.

PricePrediction.net is slightly more bullish over the future of EPS. Its Ellipsis price prediction for 2022 says it will average out at $0.15. It will then climb above $1 in 2028 and hit $2.89 in 2030.

TechNewsLeader is the most ambitious regarding the Ellipsis token, expecting it to surge from $0.24 in 2022 to $2.12 in 2028. Its Ellipsis price prediction for 2030 anticipates it being worth $4.35.

FAQs

As of 26 July, there are 723.7 million EPS in circulation and a maximum supply of one billion (72%), according to CoinMarketCap.

It might be. Ellipsis has been rallying after updating to a new version of the platform. However, this new upgrade will replace EPS with the improved EPX token.

It is imperative that investors conduct their own thorough research before reaching a decision to purchase Ellipsis.

Ellipsis price predictions vary depending on which forecaster you consult. WalletInvestor expects the token to eventually fall to $0.01, whereas TechNewsLeader suggests it will surpass $4. Tokens can be volatile, so you should never invest more than you can afford to lose.

It depends. Ellipsis has partnered with the Curve Finance protocol to give investors a secure place to swap cryptocurrencies on the Binance Smart Chain. However, the TVL on the platform and its EPS has been on a long-term bearish trend.

Ultimately the decision to invest rests with you. Investors should always do their own due diligence before purchasing any token.

Further reading

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