Home / Crypto Currency / EOS Price Retakes $6.6 Level Thanks to Brief Positive Momentum

EOS Price Retakes $6.6 Level Thanks to Brief Positive Momentum

Today may certainly prove to be a rather interesting day for all cryptocurrency markets. Although it is still early to say whether or not the upward momentum can remain in place, things certainly look pretty interesting for some currencies. The EOS price, for example, has increased by 11.5% of over the past 24 hours, although it remains unclear when the next big dip will materialize.

The EOS Price is on the Move Again

Every time we see any cryptocurrency gain value, there is an immediate concern as to how things can turn around pretty quickly. This is especially true over the past few months, as all markets have been battered for no apparent reason. Even the EOS price took a massive tumble in the past few months, and things may still head in that direction for quite some time to come

With this new 11.52% gain in the past few hours, the EOS price is looking up once again. That in itself is pretty interesting, even though most of the top 10 cryptocurrencies are in the green as well. If this trend keeps up for a few more hours – or hopefully days – we may see things improve again in a major manner. For the EOS price, finding stability near $6.5 still remains a top priority.

It is also impressive how the EOS price is gaining on both Bitcoin and Ethereum as of right now. Even though these two top currencies are putting in some solid gains of their own, it seems EOS still trumps everything as of right now That doesn’t necessarily mean things will remain that way, though, but it is good to see regardless.

With over half a billion USD in 24-hour trading volume, the demand for EOS is certainly increasing. For now, this still doesn’t reflect upon other cryptocurrency markets as of right now, although things are improving gradually. If the EOS price is destined to keep going up, the volume will need to double in the coming hours. It seems pretty unrealistic that will happen, albeit stranger things happen in the cryptocurrency world.

South Korea is clearly showing some love for EOS as of right now. With both Bithumb and Upbit showing a lot of trading volume, there is a fair amount of fresh capital flowing into this ecosystem. Huobi is in third place, albeit its volume is a lot less impressive than people may want it to be. Even so, all of these pairs show there is positive momentum on the horizon for cryptocurrency, which can only be considered to be a good thing.

How things will play out for the EOS price, remains to be determined. As of right now, the situation looks rather promising, but there is still a lot of room left for volatility. It is not entirely impossible we will see another EOS price dip in the coming hours, although the bearish momentum seems to be fading overall. At some point in the future, we may all look back on early 2018 as an anomaly, rather than an actual trend for the rest of the year.

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Institutional Investor: Crypto Will be Worth Trillions, Launches Hedge Fund

After leaving his position as an executive at Steven Cohen’s Point72 hedge fund, Travis Kling decided to start his own crypto-focused fund. This was a big and bullish announcement back then, but it still wasn’t enough to save the crypto market, which crashed only a month later. The following nine months were almost completely ruled by the bears, which has brought a lot of damage to the crypto world. Still, according to new reports, Kling has never given up on this project, and it seems that he will finally be ready to launch the new hedge fund over the next month. The dates have not been set yet, and it is possible that the fund’s launch will be as soon as in about two weeks. Former Point72 Manager Plans the Launch of His Own Crypto Fund The fund has been expected for a long time now, and according to what is known, it will be based in Delaware. Some reports even managed to find out that the name of the fund will supposedly be “Ikigai”. While nobody known for sure when the fund’s launch is actually going to be, it is known that it will happen in October. At first, the fund will be backed by a certain amount of capital that Kling’s unnamed partners have invested. However, later down the line, after the project starts its development properly, Kling plans to search for additional investors. Additionally, he will also add $15 million on November 1st, according to the reports. Eventually, by the time the mid-2019 arrives, Kling hopes that the fund will grow and expand to around $100 million. He even expects Ikigai’s venture branch to rise to $33M in capital invested. As for the foreign investors interested in the fund, they will be capable of allocating capital through investment vehicle based on the Cayman Islands. A Multi-Trillion Asset Class? During one of his recent interviews, Kling stated that he truly believes in the project, as well as the concept, and those willing to back it. This, more than anything, indicates that the project is more than just an attempt to generate large profits. Kling stated that he expects this to become a multi-trillion asset class that will expand to touch everyday life. He stated in an interview: It’s still very early, but the development and growth of this technology will be exponential. The firm will have a 13-person team that is said to be located in Los Angeles, while the fund will seemingly follow the regulations implemented by the Delaware government. Many believe that Ikigai’s launch will come on October 1st and that most of the allocated capital will remain in cash, at least at first. This is due to the fact that the investors are still trying to find a secure way into the crypto world. The post Institutional Investor: Crypto Will be Worth Trillions, Launches Hedge Fund appeared first on NewsBTC.

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