Home / Crypto Currency / EOS Price Keeps Surging as it Becomes the Fifth-Largest Cryptocurrency by Market Cap

EOS Price Keeps Surging as it Becomes the Fifth-Largest Cryptocurrency by Market Cap

Even though yesterday was a pretty eventful day for most cryptocurrencies, it seems the momentum remains pretty brittle. More specifically, we see the Bitcoin price going in the red again, although in far less spectacular fashion. One currency well worth keeping an eye on is EOS, as the EOS price is absolutely surging as of right now.

The EOS Price Trend Remains In Place

It is always interesting to see how particular cryptocurrency markets evolve. This is especially true given the most recent negative pressure we have seen affect all cryptocurrency markets. In the case of the EOS price, it seems things are heading in the right direction, for the time being. Thanks to solid gains over the past few days, EOS is now the fifth-largest cryptocurrency by market cap.

These past 24 hours, we have seen the EOS price rise by another 33.96%. Although such gains are almost synonymous with cryptocurrency, the year 2018 hasn’t given us much to be excited about in terms of gains. For EOS holders, things are certainly heading in the right direction, as these most recent gains put the EOS price at $8.59. Quite a nice gain compared to yesterday’s $6.6, although it remains to be seen how long this momentum can last.

As one would come to expect from such gains, the EOS price is booming due to solid gains over both Bitcoin and Ethereum. More specifically, there is a 34.17% gain over Bitcoin, as well as a 31.9% gain over Ethereum. This once again confirms the gains over Ethereum are smaller compared to Bitcoin, which can only be considered to be a good thing for those who have high expectations for the Ethereum price.

The demand for EOS also appears to be growing as we speak. More specifically, the trading volume has peaked to $2.488bn, which well beyond what we usually see for this particular altcoin. Even so, it is evident this trading volume is mainly dominated by speculators and manipulators, as it is highly doubtful the EOS price will remain at this level for much longer.

In terms of the EOS trading volume itself, Bithumb is the leading trading platform as of right now. Their lead over Upbit is quite substantial, and Bitfinex is even further behind. This does mean we have three fiat currency pairs in the top three right now. In most cases, this indicates fresh capital is entering the EOS ecosystem as we speak, which is pretty interesting to keep an eye on.

How all of this EOS price action will play out, remains to be determined. Although we have seen solid upward momentum for several days now, there will be a correction eventually. When that happens, it is not unlikely the EOS price will drop to $5.5 or potentially lower once again. It will all depend on how all other top cryptocurrencies evolve, as Bitcoin and Ethereum still dictate the pace for most other currencies.

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NEO Price Notes Strong Momentum to Strengthen Support at $17

In the world of altcoin trading, there isn’t too much to get excited about these days. After all, most of the top 20 currencies are in the red right now with little improvement in sight. NEO is still trying to note some sort of uptrend, although sustaining a value of over $17 will be quite challenging. NEO Price Surpasses $17 It is always interesting to see how things evolve in the world of altcoins. A lot of people flock to Bitcoin first and foremost, yet the world’s leading cryptocurrency has been a bit of a letdown throughout 2018. Some altcoins try to benefit from this stagnating price momentum, and NEO is seemingly reaping the rewards at this time. Over the past 24 hours, the NEO price has surpassed $17 again. It is not the first time this happens this year, although any uptrend to remain above that value has been pushed down fairly quickly. It remains to be seen if this latest push will yield any results, although the current trend looks promising. A 3.5% increase in USD value and a 4% gain over Bitcoin are quite telling. Looking at the social media activity pertaining to NEO, it is evident some interesting things are happening. A NEO technical article competition is being organized as of right now. This venture runs between now and December 19th. The best articles will receive a financial compensation to be paid in NEO, which makes for an interesting opportunity. More technical articles will help raise awareness about NEO in the long run, which can only be considered to be a good thing. Call for #NEO Technical Articles!!!We are running a competition to encourage participants to share their experiences and knowledge focusing on the technical aspects of #NEO #Blockchain. Submission is open until Dec.17! Find more detail here: https://t.co/CLiBcPX1Qn pic.twitter.com/abv4XzMN4i — NEO Smart Economy (@NEO_Blockchain) October 18, 2018 Interestingly enough, not everyone thinks the NEO price will continue to move up. DaVinci, for example, sees an ascending triangle forming for NEO, which could effectively cause the market to see a pretty steep correction later this week. For the time being, the support seems to hold its own quite well, although a dip below $17 can be quite problematic. Ascending triangle on #neo Havent opened any trade though.. waiting for grey line to break, so bears can take over.. pic.twitter.com/kyvCHg35fl — DaVinci (@crypto_DaVinci) October 18, 2018 One interesting announcement has been made regarding an upcoming NEO fork. Known as Neo Super Fork, a clone of NEO will be created, and an airdrop will occur for all existing token holders. Users will receive the newly created NEOX token for every NEO they hold in their wallet at the same of the snapshot. That fork will occur on November 10th, which gives NEO owners something to look forward to. $neo fork le 10 novembre. Projet non affilié à #neo. Distribution à 2:1. Voyons voir comment les choses evoluent ! pic.twitter.com/EA1YuIhjep — CryptoFrenchy (@FrenchyCrypto) October 18, 2018 Based on the current circumstances, it will be interesting to see how the NEO price evolves in the near future. There is a pretty strong uptrend brewing, although key support levels can still be broken with some ease. Its overall trading volume of $206m shows there is sufficient interest in this altcoin right now, albeit things can always turn around when people least expect it. The post NEO Price Notes Strong Momentum to Strengthen Support at $17 appeared first on NullTX.

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