Crypto

EOS Price Moves up Again Through Slow and Steady Approach

A lot of eyes in the cryptocurrency industry are on the top markets. Since Bitcoin dictates the pace for all altcoins, tokens, and assets, its momentum is of great interest to many people. The EOS price is currently benefiting from this positive spell, although it might not necessarily regain the $5.5 level and turn it into support right away.

EOS Price Momentum has Some Promise

When it comes to the different cryptocurrency markets, one has to wonder when the next breakout will occur. As of right now, it seems unlikely any major changes are expected, albeit one never really knows what the future will hold in this regard. For EOS, the current momentum seems promising, although there is some bearish pressure on EOS/BTC as well. This is in line with most of the alternative markets as of right now.

To put everything in its proper perspective, the EOS price has gained 1.53% to rise to $5.48. It is not that far removed from the $5.5 level, although one never knows for sure if such “crucial” levels can be reached in the coming hours and days. What is slightly more worrisome is the EOS/BTC dip of 1.55%, which can eventually drive the value down to 0.001 BTC or lower in the near future. That would be a worrisome development, although it might not necessarily happen for some time to come.

On social media, there are a lot of tidbits of information to browse through. TrexCryptoMania shared an interesting picture which depicts further growth of the EOS dApp ecosystem, as well as its trading volume and transaction volume for the past week. All of these statistics are impressive in their own regard, albeit they may not have any impact on the price whatsoever. Even so, everything looks good where EOS is concerned, whereas ETH seems to be dropping off all across the board.

Speaking of which, it would seem both Ethereum and EOS were top performing cryptocurrencies in the past week. However, Ethereum noted some big losses as well, whereas EOS seemingly managed to hold its own quite well without any major problems. How both markets will correlate throughout this week and the months to come, could prove to be rather interesting to keep an eye on.

Related Post

As has been the case for quite some time now, it seems EOS is subjected to arbitrage opportunities on a nearly daily basis. As of today, there are several options to explore in this regard, with profits going as high as 1.43%. While this might not necessarily be that appealing to some traders, any profit is better than having to deal with financial losses.

As the EOS value seems to push toward $5.5 once again, one has to wonder how things will pan out in the very near future. As long as Bitcoin remains in the green, it seems rather likely to assume all other top markets will see a very similar pattern. The overall crypto trading volume still remains on the low side, for some reason, but that isn’t deterring most of the markets at this time.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Cheems Surge On BSC Network: A Rising Star With Growing Market Value

The Cheems token on the Binance Smart Chain (BSC) is gaining significant momentum, surging by…

1 hour ago

Lester Token Crashes 40% Following Official Announcement

The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market…

1 hour ago

From $30K To Millions: The Wild Journey Of $Quant And Xiaohaige’s Memecoin Stunts

In a bizarre turn of events, a young live-streamer known as Xiaohaige created the memecoin…

1 hour ago

Whale “convexcuck.eth” Makes Bold $CVX Move, Nets Significant Profit Amid Price Surge

The crypto whale known as "convexcuck.eth" has made waves in the DeFi world, spending $2…

2 hours ago

$ELIZA Token Launch Marred By Insider Trading Allegations

The launch of $ELIZA, a token introduced by Andreessen Horowitz (a16z) partner @shawmakesmagic, has sparked…

2 hours ago

Cardano’s Rally Highlights Diverging Moves Among Investors

Cardano ($ADA) has been making waves in the crypto market, breaking away from the altcoin…

2 hours ago