EOS price rises, leaving other cryptocurrencies behind
As the majority of the top ten cryptos see only sideways momentum, the EOS price is well in the green.
At the time of press, the EOS price has risen to around $13, giving over 6 percent gains in 24 hours, according to the live price charts.
The EOS price has risen far more than most other currencies in the top 10, who have barely moved one percent in either direction.
According to Coinmarketcap data, EOS did rise to $13.94 late on Wednesday, before a correction closer to £14 on Thursday.
Is the EOS price rise only temporary?
After seeing healthy gains in the cryptocurrency market over recent weeks, values have leveled off in the last few days following a pullback last week.
After the bull run at the end of last year, it shouldn’t be too surprising that the rest of this year will be incredibly volatile.
Despite negative pressure on the market in the last week, the EOS price has still managed a breakout, albeit a relatively modest one.
Although this price rise for EOS is notable in the current climate, it’s perhaps the increase in trading volume for the number four cryptocurrency that’s more impressive.
With just $1.5bn in 24-hour trading volume, EOS is trading hand more than most other cryptocurrencies right now.
Its trading volume is now more than double that of the number four crypto, Bitcoin Cash, whose 24-hour volume stands at $725 million.
At this point, there’s no reason to suggest that we should expect a significant dip for the EOS price.
With the current unpredictability in the market, it remains to be seen if the EOS price can hold onto its gains.
So far, things look somewhat promising, but things can always turn around in the world of cryptocurrency.
If Bitcoin and the rest f the top ten see a price breakout, then maybe EOS will follow suit, onward and upwards.