The EOS RAM market has been live since the launch of the EOS main net. It started off slow then ramped up with a huge blow off top. It looks to be continuing a consolidation. Volatility also started off at very high levels and has recently begun to stabilize.
On EOS, RAM is used for holding account data, token data and any smart contracts you may be entered into. Currently the total RAM available from the block producers is 64GB which will be increased in the future. @dan is suggesting that small amounts of RAM get added to every block, once an increase is agreed to, in order to avoid market shock. The RAM price will effect the cost of new account creation, using dApps and even air drops.
If you own EOS and want to do more research or buy and sell RAM please check out these links:
https://buyeosram.io/
https://eos.feexplorer.io/#
https://t.me/eosram