Crypto Price Analysis: EOS leads the Market as Top Cryptos Continue to Recover

Following steep declines in prices across the crypto markets lately, most coins are spotting greens form the lasts 24 hours as they attempt a recovery. Chief gainer among the top 10 coins is EOS which was gained over 10 percent it the space of 24 hours.

Other cryptocurrencies are trading in green albeit with very little 24 hour gains. Bitcoin [BTC] has gone up to $3,567 after it reached a yearly low of about $3,280 on Friday. Ether [ETH] continues trading at double digits as enthusiast hopes it breaks the $100 mark soon. ETH is starting the new week just like it ended the last, just above $92 to the dollar.

Crypto Market Still Down From Last Week

In general, the crypto market is still suffering from last week losses. Bitcoin SV is the only non-stablecoin which is trading better than it did by this time last week. Interestingly, EOS lost heavily in the last week, about 30 percent down day-on-day. Only bitcoin cash [BCH] fared worse among the top 20 coins; it lost 35 percent. Ripple’s XRP, the second largest token by market cap is up by less than 1 percent with a market cap of $12,668,319,841 compared to Ethereum’s $9,667,275,632.

EOS Leads top Coins

At the time of writing, EOS is trading 8.2 percent better than it did 24 hours ago, notably higher than other cryptocurrencies in the top 20, according to data from CoinMarketCap. It has a market cap of over $1.77 billion and $866,729,203 in trade volume in the past 24 hours a lot of which happened on the OKEx crypto exchange.


The gain by EOS can be explained by two factors; first, it seems to be making up for its loss last week as it was the worst performing coin among the top 10 cryptocurrencies. As the market tries to recover, it is expected that it will rise faster than others.

Also, EOS was among major tokens mentioned by Coinbase crypto exchange last week in its new token listen to efforts. As Smartereum reported, the prominent U.S.-based exchange announced that it was “exploring” 31 tokens to be listed on its platform including EOS and other top coins like Stellar Lumens [XLM], Cardano [ADA] and NEO.

The exchange explained that it was working to list most of the top digital assets on its platform. The statement read:

“As we announced in September, Coinbase’s goal is to offer support for all assets that meet our standards and are fully compliant with local law. Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap…Our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet. Finally, as per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, which allows us to add assets efficiently and responsibly.”

Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.