The latest cryptocurrency news put EOS in the spotlight as the one altcoin which has surged by 10% against the US dollar in one day, reclaiming its position as the fourth largest cryptocurrency behind Bitcoin, Ethereum and Ripple.
In only 24 hours, the EOS price managed to rise from $2.71 to $3.06. This comes after the 30% Litecoin surge and its amazing performance last week which managed to overcome EOS with a 30% increase, the surge in price.
Fueled by the momentum and relying on the strength of several major crypto assets such as EOS, Ethereum and Ripple, the valuation of the crypto market has managed to rise by $2 billion, going from $120 billion to $122 billion.
According to analysts, this surge is good for the market. As the prominent analyst with a handle “DonAlt” said, EOS has been showing exceptional strength.
“EOS is back at the level it was before BTC broke 6k. (!) Showing exceptional strength. A bit more confirmation and I’ll jump in,” he tweeted.
Traders now foresee EOS retracing in the near-term subsequent to a 10% rally. In the days to come, however, EOS is expected to maintain its momentum against both Bitcoin and the US dollar.
Earlier this month, the independent US-based provider of cryptocurrencies, stocks and mutual funds ratings known as Weiss Ratings, said that EOS is ahead of TRON when it comes to DApp usage and adoption.
“EOS has a DApp called Dice, and it’s beating another DApp, TronBet by about 60% in volume and 30% in transactions. People shilling TRON need to understand that EOS is still way ahead,” the experts at Weiss Ratings said.
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