The native token of the EOS protocol reached a new high and is now trading at $4.11 which almost a 12 percent increase from the starting position of the day.
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In the latest altcoin news we compare the prices of the other top cryptocurrencies.
For example, Bitcoin and Ethereum but also other top coins managed to gain between 2-7 percent. Cardano’s Ada surged up to 10 percent. The EOS to dollar rate was 4.08 which is a 0.73 percent down from the highest point of the session.
If we talk about volumes, the exchanges’ analyses show about $2.631 billion worth of trading volume over the past 24 hours. The trading activities seem to be well-distributed across all crypto trading platform and the exchange seem that they host no more than 7 percent of the total EOS daily trading volume. The asset traded against Ethereum, USDT and Bitcoin to the maximum point.
The EOS rally came right after the Weiss Crypto Ratings issued their annual crypto report. The study provided how the emerging trends in the crypto industry mostly focusing on projects that could potentially have a maximum chance of success in the upcoming year. Weiss awarded EOS with an A-score because of its promising technology and that is attractive for the long-term investors but of course an attractive reward for all the short-term investors.
Martin D. Weiss, the Weiss Ratings Founder stated:
“Despite lower prices since early 2018, our rating model gives us hard evidence that a critical segment of the cryptocurrency industry has enjoyed remarkable growth in user transaction volume, network capacity, and network security. Equally important is our finding that an evolution in the underlying technology often powers these improvements. Therefore, for those willing to take the risk, the best time to invest could be very near.”
The same report showed that XRP was in a better position than EOS but the XRP token managed to secure only 2.46 percent in the past 24 hours. Ethereum on the other hand, is the main competitor to EOS which also received an A- score because of its scalability issues.
While the price surge of EOS could be a result because of the strong market push, the Weiss report shows that intraday boost could be a sign of a bullish sentiment for the asset. There is no clear sign whether the rally can continue in the following days.
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