After a somewhat exciting day across all cryptocurrency markets yesterday, things are back to normal. We’ve seen small to big retracements for all major cryptocurrencies, with one notable exception. The EOS price is the only currency in the top 10 which is still in the green as of right now. Thanks to a small 1.48% gain during the past 24 hours, the EOS price is still well above US$14 for the time being.
EOS Price Hangs on by a Thread
It is always interesting to see how cryptocurrency markets evolve over time. In most cases, currencies will remain linked to Bitcoin first and foremost, and it seems that situation will not change anytime soon. In fact, we’ve seen all cryptocurrencies lose value for the past few hours thanks to yet another Bitcoin price dip. The world’s leading cryptocurrency has become somewhat of a bore in this regard.
One exception right now is the EOS price, which is still up by 1.08% on the day. This represents a small increase, even though the altcoin has noted a 4.5% gain over Bitcoin and a 2.69% gain over Ethereum. These are solid gains across the board for EOS, although reaching US$15 will take a fair amount of time. Right now, the markets are still far too unstable to speak of sustained growth, but things will turn around eventually.
Over the past 24 hours, we have seen the EOS price go as high as US$15.60, and as low as US$13.20. Such wild price swings create exciting opportunities for EOS price speculators, as a US$2.40 value increase and others like it can certainly net a lot of profits in the long run. If this current price dip keeps up for a few more days, there could be some more interesting swings ahead of us.
With almost US$3 billion worth of 24-hour trading volume, things are looking quite good for EOS. The demand to buy and sell this particular cryptocurrency is certainly in place right now, although it is evident that the market can easily go either way. Right now, it seems the buying pressure is a lot higher than the selling pressure, but nothing has been set in stone.
The vast majority of the EOS trading volume currently comes from South Korea’s Bithumb exchange. With this platform generating almost 70% of the past 24 hour’s trades, it is evident the rest of the world is not too interested in trading this particular altcoin right now. Huobi is the second-largest exchange by trading volume, followed closely by Bitfinex. Not much has changed as far as these rankings are concerned, but that doesn’t have to be a bad thing.
For the time being, it remains to be seen what the future holds for the EOS price. There are no guarantees of future gains whatsoever, but things are still looking pretty good in general. If the momentum keeps up, we may see the EOS price move a bit closer to US$15, although finding stable support at that level will prove to be a big challenge. It’s a market well worth keeping an eye on today and over the next few days.