While most cryptocurrencies are still trying to recover from a setback over the weekend, there are always exceptions to keep an eye on. The EOS price, for example, is preparing for another run at $20, by the look of things. Thanks to another 6.7% gain over the past 24 hours, the EOS price is certainly successfully bucking the overall bearish trend plaguing the cryptocurrency industry.
EOS Price Rise is Pretty Surprising
There will be a time throughout 2018 when most cryptocurrencies will set a new all-time high. For EOS, that all-time has already occurred this year, but it is possible there will be another all-time high later this year. With the EOS price recovering from this weekend’s onslaught rather quickly, the positive momentum is in effect once again. As a result, the EOS price is now back above $18.
While such gains are pretty impressive as of right now, it remains to be seen if the EOS price can remain above $18 for an extended period of time. There is a good chance this altcoin has not seen its actual correction just yet, which may effectively spell some interesting things to come where this coin is concerned. At the same time, EOS is also the only currency to note a 6.7% gain in the past 24 hours, whereas most other currencies are in the red and will continue to be for most of the day.
It is also peculiar to note how the EOS price is rising thanks to gains over both Bitcoin and Ethereum. To put this into perspective, EOS has gained 9.37% over Bitcoin and 13.9% over Ethereum. Again, it is the only altcoin to make any major gains in this regard, but it is possible things will turn around in the future. If Bitcoin and Ethereum can recover as well, the future will be pretty interesting for all cryptocurrencies. This will also positively impact the EOS price in the long run.
With $1.617bn in 24-hour trading volume, EOS is in much bigger demand compared to some of the other top cryptocurrencies. This is a pretty remarkable trend, although it is possible this EOS “hype” will calm down eventually. There is no reason for the EOS trading volume to slow down anytime soon, though, but the cryptocurrency world often evolves in very interesting directions.
OKEx is the biggest trading platform for EOS as of right now. Its lead over Bithumb is pretty steep, and Upbit is even further behind. One positive trend for EOS is how there are three fiat currency pairs in the top five, which is far better than most other cryptocurrencies on the market right now. It’s also interesting to note how there are no EOS/BTC pairs in the top five, although things may come to change in the near future.
For the time being, the EOS price looks pretty solid, but maintaining any momentum in the cryptocurrency world is pretty difficult, especially in 2018. If this trend keeps up, however, there is a good chance the EOS price will surpass $20 at some point. Only time will tell if that is even remotely possible, but in this industry, anything can and will happen at some point. The bigger question is if and when other cryptocurrencies will recover as quickly.