Altcoin Analytics: EOS Tops in News Roundup

Over the past 24 hours, market price movements have been bullish, however, we have already seen a similar picture in previous weeks, so it is too early to write off the bears. Bitcoin struggled to reach $7,000 and is now trading at $6,950, which is 1.7% higher than yesterday’s price. Altcoins are also generally showing signs of growth, but one of them is clearly on fire today. And this is EOS

According to Coinmarketcap data, the price of EOS has increased by 45%. Yesterday at this time the altcoin was trading at a price of $6, today it is $8.8. On the monthly chart we also see a 45% gain as EOS has traded around the $6 mark for the past four weeks. The reason for the gain is this bullish breakout. Paired with Bitcoin, EOS also increased by 45%, now it is trading at a price of 127,000 satoshi, yesterday at the same time the price was 87,800 satoshi. EOS's month-on-month gain against Bitcoin is much larger, with EOS doubling its value from 63,000 last month.

There were no updates on the Twitter feed as to what caused the gain. Bullish sentiment emerged on the Korean crypto exchanges Buthumb and Upbit. These two crypto exchanges represent 45% of total trading volume, followed by Bitfinex with 14%.

Total EOS trading volume increased by 860%, from $228 million to $2.2 billion in the last 24 hours. Now the total capitalization of EOS is almost $7 billion, which displaces Litecoin from the fifth position of the charts. It is unclear whether this trend will continue or whether the altcoin will fall in price during the European and American trading sessions. 

The total market capitalization of cryptocurrencies rose 4.8% this morning to $227 billion. Despite this, this mark is quite a bit higher than the mark where the major depreciation began on March 18, so it is too early to write off the bears. Other altcoins including Ripple, Cardano and NEO also rose in price in Asian markets.

According to https://www.newsbtc.com