Even though weekends are never a solid indication for the future of cryptocurrency prices, it seems the EOS community couldn’t care any less. With the EOS price surging by over 15% in the past 24 hours, it is evident positive momentum has become more tangible in this industry today.
The EOS Price Surge is Real
While there are a lot of high expectations associated with EOS, it is one of these projects which still has nearly everything to provide to the masses. Even so, the current EOS price momentum cannot be denied whatsoever, as it is quite a spectacular sight to behold. More specifically, the recent 15.53% EOS price increase has surged to nearly $14 again, which is somewhat surprising at this time.
To put this into perspective, the EOS price is gaining value because the main net launch is coming a lot closer. That in itself will herald some major changes for the EOS ecosystem, which can directly influence the project’s token price. Even so, the $14 level will be difficult to reach and sustain, as there will be plenty of profit taking once this value is achieved.
It is also intriguing how the EOS price surge materializes thanks to solid gains over both Bitcoin and Ethereum. The EOS/BTC ratio has increased by 12.25% over the past 24 hours, whereas the EOS/ETH ratio has gone up by 12.44%. This further confirms the EOS price is increasing all across the board, even though it remains to be seen how this scenario will look 24 hours from now.
Perhaps the most impressive development is how the EOS trading volume is on the rise as well. Even though this has always been a very liquid market, a trading volume of over $1.738bn is very impressive. Especially when considering how the weekend usually leads to fewer trades it seems this particular altcoin is planning to do something else entirely.
As one would come to expect, the Asian exchanges are doing their part of the lifting. Huobi is in the lead with its USDT pair, followed by Bithumb’s KRW market and OKEx’ USDT pair. Bitfinex’s USD pair and Upbit’s KRW pair complete the top five. There are some very interesting pairs in this top five, and they all generate over $137m in 24-hour volume as well.
For the time being, it remains to be seen how high the EOS price can go today. This current trend is very impressive already, but no uptrend can be sustained indefinitely, especially not in the world of cryptocurrency. Even so, today is proving to be a day which few people had expected to see, which always leads to surprising developments.