Crypto markets have remained relatively stable as we enter the weekend and there have been no major movements in either direction. Total market capitalization has remained over $400 billion which is a good signal that more selling pressure has been suppressed for now. Bitcoin has remained over $9,000 for the past 24 hours and is currently trading one percent down at $9,130. Altcoins are a mixed bunch with a few posting good gains while some have lost a little ground. One steaming ahead of the group this morning in Asia is EOS.
Coinmarketcap reports that EOS is currently trading 16% higher during the morning’s Asian trading session. At the moment this altcoin is trading at $17.60 which is up from around $15 this time yesterday. Over the week EOS has been even stronger with gains of almost 50% from $11.20 this time last Saturday. The monthly view is more impressive with gains of over 170% from a trading range of around $6 this time last month. Against Bitcoin EOS is up 17% on the day to 193300 satoshis from 164000 sats this time yesterday. Over the week EOS has gained 54% against BTC, up from 125000 satoshis this time last weekend.
According to Forbes current momentum for EOS has been driven by benefits from several tailwinds, including an ongoing ICO and widespread faith in Dan Larimer, who currently serves as CTO of BlockOne and is leading the development of EOS. Positive sentiment is driving prices higher as investors look beyond Ethereum for the next big crypto platform.
The majority of trade has been on Asian exchanges this morning with OKEx, Bithumb and Huobi taking over 50% of the volume. EOS volume has risen over 115% from around $1.3 billion yesterday to over $2.8 billion today. Total market cap is steadily increasing cementing its position as fifth most popular cryptocurrency with $14.5 billion at the time of writing.
Total crypto markets have remained pretty flat on the day rising just under one percent to $415 billion. Other altcoins performing well during the Asian trading session this morning include Tron, Icon and Steem.
More on EOS can be found here: https://eos.io/
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.