EOS Price Getting a New High
The cryptocurrency market starts to recover and it will take some time to set a new all-time high marks. If we speak about EOS, we can say that it reached a new all-time high over the past few hours. EOS cost $18.69 at the top, which is a record amount for this new altcoin.
Also interesting, that a day ago EOS valued about $13. It appears the digital currency increased nearly $5,6 in price, which represents a 50 % surge in a day. It is expected to see such a small dip after setting a new all-time high. Cryptocurrency holders will have profits hoping to buy it cheaper repeating the same history. In the financial sector It is a very common type of behavior
Currently, EOS has market cap of nearly $11billion, which doesn’t mean that the price won’t drop in the next few weeks. Everything is possible, but for now the digital assets price looks solid and before the weekend we can probably see push to $20.
EOS is one of the hottest commodities on the cryptocurrency market right now, with over $4.15bn in 24-hour volume. Others can may expect to see other currencies generating such a high rate of volume, but it’s not the case right now. Most coins don’t even come close to $1bn in daily chart. But situation can change, as exchanges rolls out support for altcoins.
One slightly worrisome aspect about EOS is how over 65% of its trading volume originates from the Bithumb exchange. This platform is notorious for pumping and dumping altcoins on a regular basis. Although their price isn’t included any longer, they do seem to generate an interest in EOS which is far less prevalent in other parts of the world. Binance, the second exchange by trading volume, generates $300m in volume compared to Bithumb’s $2.7bn.
It’s hard to say how this all will effect on the EOS price. At this moment, reaching $20 seems like a trivial challenge. In the cryptocurrency world there are billions of dollars, which can be shaved off any currency’s market cap in the blink of an eye. It will be a very exciting trading weekend for those brave enough to take a few risks along the way.
