Monday, May 20, 2024

    Asian Cryptocurrency Trading Update: EOS Adds $2 Billion to Market Cap

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    FOMO Moments

    Weekends are usually pretty flat in crypto land but this one has been rather bullish with gains all round. Market capitalization has grown for the third day in a row and is creeping back towards $350 billion. Technical indicators for Bitcoin are bullish and it has gained 1.6% on the day trading at $7,630. Ethereum has also made solid gains of 2.5% over the past 24 hours and is just below $600. Altcoins have been boosted by the momentum and most are trading in the green in Asia this Sunday morning. One streaking off ahead of the pack at the moment is EOS.

    According to Coinmarketcap EOS is the best performing altcoin in the top 100 at the moment with a huge increase of 16% on the day. Currently trading at $14.50 EOS is up from $12.48 this time yesterday. Over the past seven days EOS has made 19% trading up from $12.26 this time last Sunday. Over the past month however it has fallen with nearly every other cryptocurrency, losing 22% from $18.80 this time last month. Against Bitcoin EOS has made 15% at 191000 satoshis from 166500 sats this time yesterday. Weekly gains on BTC have been around 13.5% from 168000 satoshis this time last Sunday.

    Over the past couple of days the EOS team has been releasing updates on the mainnet launch which has been a resounding success. has published a number of guides on converting ERC20 tokens to the new EOS blockchain and advising on how to register addresses. There is also an ongoing weekend launch party which is driving momentum at the moment;

    “EOS Go is proud to host over 50 teams and prominent EOS contributors during a full weekend of launch party live video shows. Everyone is coming together in EOS, to help the entire community stay updated during launch. This is a historic event that will only happen once, let’s celebrate!”

    Asian exchanges have been dominating EOS trade over the past 24 hours with OKEx leading with around 18%, Bithumb and Huobi are second and third with around 14% of the volume each. EOS trade volume has steadily climbed from $970 million to over $3 billion indicating extremely bullish momentum. Market cap has therefore shot up to over $13 billion in the past day as $2 billion extra has been added and EOS comfortably leads the crypto recovery.

    For the fourth day in a row crypto markets have climbed and total capitalization currently stands at $344 billion, up 3.3% on the day. The seven day chart has entered bullish territory but the longer term monthly view is still bearish.  Most of the other altcoins are trading higher today as $10 billion has been injected into the markets over the past 24 hours. Those enjoying solid growth during Asian trade this morning include Bitcoin Cash up 8%, VeChain up 9%, OmiseGO up 7%, Ontology 10% higher today, and Zilliqa up 11%.

    More on EOS can be found here:

    FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.

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