EOS Price Leaps 11.68% in a Day to Hit Market Value of $3.7 Billion

EOS is surging ahead of other top cryptocurrencies this Wednesday.

The EOS protocol’s native token established a fresh session high at $4.11, up 11.68-percent from today’s open. In contrast, Bitcoin, Ethereum, XRP, and other top coins managed gains between 2- and 7-percent, barring Cardano’s ADA, which surged up to 10-percent. As of 1000 UTC, the EOS-to-dollar rate was 4.08, 0.73-percent down from the session high. The slip came as a part of an organic downside correction. EOS resumed its rally after finding support near $4.04.

EOS USD, EOS PRICE

EOS PRICE SURGES UP TO 11.68% IN A DAY | SOURCE: COINMARKETCAP.COM

Speaking of volumes, exchanges across the board posted $2.631 billion worth of trading volume in the past 24 hours. The trading activities looked well-distributed across the platforms, with exchanges hosting no more than 7.06-percent of the total EOS daily volume. The asset maximally traded against Ethereum’s ETH, Tether’s stablecoin USDT, and Bitcoin’s BTC.

EOS Fundamentals

The EOS rally followed the release of Weiss Crypto Ratings’ annual crypto report. The study provided an outlook of emerging trends in the cryptocurrency industry, primarily focusing on projects that would succeed in the coming year. Weiss awarded EOS the second position – and an A score – for its promising tech/adoption for long-term investors and an attractive risk/reward for short-term investors.

“Despite lower prices since early 2018, our rating model gives us hard evidence that a critical segment of the cryptocurrency industry has enjoyed remarkable growth in user transaction volume, network capacity, and network security. Equally important is our finding that an evolution in the underlying technology often powers these improvements,” said Weiss Ratings Founder, Martin D. Weiss. “Therefore, for those willing to take the risk, the best time to invest could be very near.”

The same report awarded XRP the top spot ahead of EOS. But the Ripple project’s native token managed to secure only 2.47-percent gains in the last 24 hours. It could be due to an ongoing legal battle between XRP investors and its issuance company Ripple Labs. Ethereum, EOS’ main competitor, received an A- score as it missed out on issues related to scalability.

While EOS’ rally could be a part of an overall market push, the Weiss report appears to have boosted intraday bullish sentiment for the blockchain asset. There is no clarity whether or not the rally can continue further. So, traders entering long positions from fresh higher-highs should place a stop loss just below their entry position. It would minimize the overall risk.

Trade safe!

Click here for a real-time EOS price chart.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Prove
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022
Mintable
Mintable CEO Zach Burks Talks to Us about the Opensea Stolen NFTs and Their Recovery
March 21, 2022
Crypto Crime
Crypto Crime Surges To Record Highs As Thieves Follow Market Buzz – Chainalysis 2022 Report
February 24, 2022
Bots Circumvent 2FA Login At Coinbase And Other Crypto Exchanges In 2022
Bots Have Circumvented 2FA Logins At Coinbase And Other Crypto Exchanges In 2022
February 17, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Russia
Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin29,742 0.07 % 1.21 % 2.49 %
Ethereum1,976.3 0.35 % 0.39 % 5.67 %
Tether0.9989 0.17 % 0.14 % 0.17 %
BNB330.61 0.24 % 1.22 % 7.85 %
USD Coin0.9989 0.16 % 0.08 % 0.04 %
XRP0.4077 0.17 % 0.51 % 7.16 %
Binance USD1.000 0.03 % 0.09 % 0.10 %
Cardano0.9566 0.22 % 0.68 % 6.96 %
Solana48.95 0.07 % 1.60 % 14.75 %
Polkadot9.980 0.14 % 0.13 % 9.70 %

bitcoin
Bitcoin (BTC) $ 29,772.00
ethereum
Ethereum (ETH) $ 1,984.10
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 331.73
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.40856
binance-usd
Binance USD (BUSD) $ 1.00
cardano
Cardano (ADA) $ 0.519991
solana
Solana (SOL) $ 49.01
polkadot
Polkadot (DOT) $ 10.01