EOS Price Surpasses $5.75 Thanks to Bullish South Korean Traders
Things are still looking pretty solid for most cryptocurrency markets as of right now. Especially the EOS price is noting some major gains over the past 24 hours. After being called out by John Oliver a while ago, the currency is now back above a value of $5.75. A pretty interesting trend, although sustaining it will be a major challenge for any coin, especially EOS.
EOS Price is on the Move Again
After the troublesome first few weeks of 2018, it is pretty interesting to see how cryptocurrency markets are recovering as of right now. Although the EOS price has seen its fair share of dips ever since hitting an all-time high of nearly $18, it seems the current trend is showing some positive signs. While there is still a lot of lost value to be recovered, this current 22.5% gain should not be overlooked either.
After the massive crash of early 2018, we have been looking at an EOS price of just over $4 for some time now. This makes the current gains all the more impressive, considering there was a very real chance the EOS price would dip even lower. Thankfully, it seems this week is off to a good start in this regard, although it is still too early to tell whether or not we will see any further positive change sin the near future. Anything is possible in the cryptocurrency world, though.
It is also worth noting the EOS price is rising partially thanks to solid gains over both Bitcoin and Ethereum. More specifically, EOS has gained a shocking 19.54% over Bitcoin and a stunning 2.82% over Ethereum. All of this, combined with the rising Bitcoin value, effectively propels the EOS price to back over $5.75. It is quite interesting how altcoins thrive when Bitcoin is doing well, even though it remains to be seen how long this optimism will last.
With $790.6m in 24-hour trading volume, the demand to buy and sell EOS is certainly there as of right now. Even though the overall cryptocurrency trading volume is still below $18bn as of right now, it seems these numbers will continue to improve for the foreseeable future. That is, until the next piece of regulatory news or market shenanigans comes to marketing to send all cryptocurrencies into a death spiral once again.
The way things look right now, Bithumb is the go-to place to buy and sell EOS. That in itself is always interesting to keep an eye on, even though it goes to show the rest of the world isn’t as interested in this altcoin. Bithumb currently generates nearly 44% of all trades, followed by Bitfinex and Huobi. It seems the Western world is following South Korea’s volume, which may indicate the EOS price will drop pretty soon. Only time will tell how all of this plays out.
For the time being, the EOS price trend seems to be in place rather firmly. That doesn’t mean the EOS price will rise to $6 later today, though, but it is not impossible either. As long as Bitcoin and Ethereum continue to show some positive momentum, things will get very interesting for all currencies Whether or not this means all markets are in a permanent state of recovery, remains unclear. Volatility still lurks below the surface, and the markets are not out of the woods by any means.
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