Even though weekends are customarily terrible times to trade cryptocurrencies, this weekend is moulding up rather easily already. All markets are in the immature right now, and several currencies have conspicuous vital gains in the past 24 hours. The EOS cost has successfully overcome most of the issues progressing this week. In fact, we are now looking at an EOS cost of $18.3. Very considerable gains, nonetheless the marketplace will sojourn indeterminate for quite some to come.
Another leg up for the EOS Price
When all cryptocurrencies start to recover, it is only a matter of time until someone sets a new all-time high. In the box of the EOS price, that new all-time high has been reached over the past few hours. At the top, one EOS was valued at $18.69, which is an comprehensive record for this comparatively new altcoin. Maintaining this movement will be a struggle, though, as the cost boost is rather high over the past 24 hours.
More specifically, a day ago, that same EOS was valued at almost $13. Although this is a “mere” $5.69 increase, it does paint a nearby 50% swell in value over 24 hours. Things are retracing a bit as we speak, with the EOS cost hovering nearby $18.3 for now. Such a small drop after environment a new all-time high is only to be expected. Holders will take profits, wish to buy back in cheaper, and repeat the same cycle. It is a very common form of function in the financial sector.
Thanks to these plain cost gains, EOS now nears the $11bn market cap symbol as well. It is conspicuous how distant this altcoin has come in discerning succession. This doesn’t indispensably meant the EOS cost won’t fall in the subsequent few weeks, though. Anything is probable in cryptocurrency, and gains can get wiped out very quickly. For now, though, the EOS cost movement looks solid, and a pull to $20 might manifest before the weekend is over.
With over $4.15bn in 24-hour volume, EOS is one of the hottest line on the cryptocurrency marketplace right now. Some people would design to see other determined currencies beget such a high volume of volume, but that is not the box right now. There are some exceptions, but most coins in the tip 20 don’t even come tighten to $1bn in daily volume. A conditions that will positively change as we see exchanges rolls out support for pronounced altcoins.
One somewhat worrisome aspect about EOS is how over 65% of the trade volume originates from the Bithumb exchange. This height is scandalous for pumping and transfer altcoins on a unchanging basis. Although their cost isn’t enclosed any longer, they do seem to beget an seductiveness in EOS which is distant reduction prevalent in other tools of the world. Binance, the second sell by trade volume, generates $300m in volume compared to Bithumb’s $2.7bn.
How all of this will play out for the EOS cost relocating forward, is formidable to predict. Based on the stream momentum, reaching $20 seems like a pardonable challenge.At the same time, this is the universe of cryptocurrency, where billions of dollars can be shaved off any currency’s market cap in the blink of an eye. It will be a very sparkling trade weekend for those dauntless enough to take a few risks along the way.