The good news is that markets have not crashed this morning and total market cap is hovering around $300 billion which is above the last low. The not so good news is that most cryptocurrencies are still in the red and very few have made gains. Bitcoin failed to break resistance at $8,000 and is still trading just below it. This has stalled any momentum that altcoins may have seen during the morning’s Asian trading session. A couple are trading in the green though and one performing a little better than the rest at the moment is EOS.
Coinmarketcap reports that EOS is currently trading 11% higher this morning which puts it above all other altcoins in the top 25. The token is trading at $6.12, up from $5.50 this time yesterday; the weekly picture is pretty flat with EOS trading at around the same level this time last Wednesday. Over the past month EOS has fallen quite heavily by 33% from over $9 in late February. In terms of BTC the altcoin is trading 11.5% up at 78065 satoshis, higher than the 69658 sats it was at the same time yesterday. The all-time high for EOS came in mid-January when it reached $18 or 125000 satoshis.
The developer behind the EOS platform, Block.one, reportedly signed agreements for a further $100 million in investments into the blockchain project. Additionally the testnet version of the EOS network will be launching in early April according to Reddit posts. Price action has taken an upswing as a result while most other altcoins are still floundering.
EOS is traded predominantly in South Korea on Bithumb and Upbit which share 55% of the total trade volume. That volume has increased to $924 million in the past 24 hours, putting the market cap of EOS at $4.6 billion. Cardano and Stellar Lumens have been battered in the past two months enabling EOS to overtake them and claim 6th spot in the market cap charts.
The only other altcoins performing well this morning are Tron, Ethereum Classic, Qtum and Binance Coin. Just outside the top 25 is Ontology which has been on a roll for the past few days, ONT is up 47% this morning and is the best performer in the top 100.
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 fundamentals.
The post Asian Altcoin Trading Roundup: Top Cryptocurrency is EOS appeared first on NewsBTC.