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EOS Gains More Than 16% Following Recent Slide In The Crypto Market

EOS is up around 16% in the last 24 hours, now valued at $12.85. This comes following a considerable dive across the board with most altcoins being down more than 15%.

Bitcoin had been floating around at approximately $9000-$9500 for a while until it started to step back a bit. It stabilized once again at around $8000-$8500 until it took yet another dive just 2 days ago. Amidst this recent dive, it was revealed that the US is launching a criminal probe into potential manipulation of the price of Bitcoin which caused the price to fall even further.

In these situations, altcoins actually suffer even harder than Bitcoin itself does, as the entire market depends on Bitcoin. When the market says sell, altcoins suffer from their own price falling in terms of BTC or ETH, but also in terms of USD as Bitcoin is falling. This is why most altcoins yesterday, were down more than 15%.

However, today, the market is looking a little bit more pleasant for investors, if you ignore the fact that the market cap is down around $60 billion from what it was just 3 days ago.

One of the coins which really has had quite the day in terms of trading is EOS. It is, at the time of writing up 16.39% in the last 24 hours, valued at $12.85. One of the driving forces behind this surge could be the upcoming launch of the EOS Mainnet the 2nd of June.

eos price 25th of may

Source: https://coinmarketcap.com/currencies/eos/#charts

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