Friday, June 9, 2023

EOS outperforms Bitcoin Cash


Despite the fact that crypto market still suffers drawdowns, some tokens still manage to break the general trend for a fall. So far, EOS is among these lucky ones – it managed to gain 4.52% in the last 24 hours, which is one of the best results in the top 10 currency-level in the market. Due to this growth, EOS at the time of writing is traded at $ 13.2, although no one knows how long it will be able to hold its position.

Probably, almost all have noticed that today is not the most favorable day for the whole digital money industry, and the situation may worsen even more by the weekend.

Bearish pressure on the market is growing, and the general market capitalization has again fallen below $ 19 billion. In other words, while there is no demand for the cryptocurrency. However, experts believe that this is not surprising, since such a pattern on the market is observed from the very beginning of this year.

Despite the fact that last year, especially its second half, passed extremely well for the cryptocurrency, the following months the market was in a state of adjustment. However, the volatility of crypto market did not go anywhere – a clear example was just the EOS token, which over the past 24 hours managed to reverse the general negative trend and slightly increase in price. This is an excellent indicator for EOS, because not so long ago it was on an equal path with the rest of the cryptocurrencies.

Nevertheless, analysts are sure that very soon volatility can play in the opposite direction for this token.

However, so far, EOS has seen an increase of 4.52%, due to which its price successfully took the position at $ 13. Of course, while this is not the indicator that many of its users would like to see, given its absolute maximum of $ 18.4, which EOS has achieved not so long ago. Unfortunately, volatility is always present in cryptocurrencies, and it is not yet known how long EOS will be able to retain its position. On bitcoin, altcoin also earned about 5.34%, which undoubtedly will play a role in the future, analysts are sure.

The volume of trading over the past 24 hours from EOS amounted to $ 1.595 billion, which tells us about the growing popularity of the token on the market. Given the fact that over the past few days all crypto market quite noticeably sagged, such volumes of trade that EOS demonstrates inspire confidence in this token. Analysts are not yet sure whether the current situation in the market can be called another bearish trend, but they believe that cryptology soon expects some kind of global changes.

The bulk of the EOS trade volume is generated by the OKEx crypto-exchange. Top-3 supplement the Bitnumb and Huobi exchanges, which is quite an interesting set for altcoin. Upbit and Bitfinex complete the top 5. Among the listed five crypto-instruments, three are trading in a pair of currency / EOS, and the other two are USDT / EOS. Thus, there is an extensive capital gain on the market for this token, which in principle explains the rise of EOS in the last 24 hours.

Analysts can not yet say with certainty how long the token will be able to hold $ 13. However, the situation for EOS looks pretty promising.

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