In a fight for being the fourth largest cryptocurrency between EOS and Bitcoin Cash, EOS overtook Bitcoin Cash momentarily to become the fourth largest cryptocurrency in the world.
The market cap of EOS on November 25 at 16:00 UTC was at $2.74 billion and was the lowest point for the market cap in the one-day time frame.
The market cap experienced a spike from this point and took off to $2.96 billion, which is a substantial increase of $220 million in market cap.
Bitcoin Cash’s market cap at 16:00 UTC collapsed to its lowest point i.e., $2.70 billion. In comparison with the market cap of EOS and BCH at this point, EOS has overtaken BCH to regain the title of becoming the fourth largest cryptocurrency in terms of market cap.
The market cap of BCH, however, increased to $2.99 billion while that of EOS lagged behind and is currently at $2.96 billion. EOS held its position for a short time as Bitcoin Cash decided to take its spot back.
The constant battle between EOS and BCH has been going on for a while, and the cryptocurrency community speculates this to be due to the Bitcoin Cash’s hash wars that occurred causing the Split of BCH into Bitcoin Cash ABC implementation and the Bitcoin Cash SV implementation.
Ever since the start of hash wars, Bitcoin and other cryptocurrencies have been suffering a massive bearish trend.
As per the data obtained from CoinMarketCap, EOS is currently trading at $3.27 and has a decline of 8.24% in the 24-hour time frame. When compared over a span of 7-day the price of EOS has depreciated by a massive 28.60%.
Bitcoin Cash, on the other hand, is currently trading for $171.25 with a total decline of 17.16% in the 24-hour time frame, while the 7-day comparison shows a decline of 55.28%.