Crypto Trading EOS Surpasses Ethereum in Trade Volume

EOS has gained by a total of more than 35 percent compared to last Wednesday. It reached a peak of $22.79 on April 29. Its mainnet is coming in June.

EOS traded around $3 billion in volume in the past 24 hours, surpassing Ethereum, which managed a volume of only $2.4 billion during the same period. EOS started fomo moment runs last week.

EOS gained by a total of more than 35 percent so far when you compare the current price to that of last week Wednesday. It was trading at around $13 although it reached a new all-time high of $22.79 on April 29. And although the cryptocurrency fell to below $17 yesterday, it later recovered back to $19. The possible cause for the massive increase is the upcoming launch of EOS mainnet to be on June.

Additionally, the largest chunk of today’s $3 billion trade volume traded in South East Asia in the morning of Wednesday. The major exchanges OKEx, Bithumb, Upbit and Huobi shared 70 percent of the volume between them.

The cryptocurrency now has a market cap of $15.6 billion in the fourth place after Bitcoin Cash. Bitcoin is also hovering around $9,000 over the past 24 hours and thus past what was thought as possible to stir even a larger interest in the market. While it was a good turn of events for EOS, it wasn’t so for Ethereum whose prices dropped 6 percent Tuesday after Wall Street Journal reported regulators are exploring whether it and other cryptocurrencies should be considered as securities.

This happened even as the total market cap for all the coins and altcoins climbed 4% to $423 billion. However, the total volume fell by 25 percent in the last 24 hours to $23 billion. Wednesday also brought a good morning for Verge with a gain of 12% and Aeternity on 10%. Cardano, Stellar and Lisk which gained around 9 percent each.

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David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.

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