RATE Group | EOS, Bitcoin Cash Drop Biggest as Top Cryptocurrencies Correct Lower
51494
post-template-default,single,single-post,postid-51494,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

EOS, Bitcoin Cash Drop Biggest as Top Cryptocurrencies Correct Lower

04 Dec EOS, Bitcoin Cash Drop Biggest as Top Cryptocurrencies Correct Lower

Posted at 17:28h in Cryptocurrency News by

[ad_1]


bitcoin price dominoes ethereum etherdelta crypto

EOS continues to face more rapid capitulation than its peer blockchain projects after falling another 11% in a day.

The EOS/USD rate on Tuesday established an intraday low at 2.41-fiat, down 28.27% from its weekly high at 3.36-fiat. Meanwhile, the maximum drop noted in the EOS market capitalization this week touched $861 million, according to the data available at CoinMarketCap.com.

EOS/USD 7D MARKET CAP AND PRICE | SOURCE: COINMARKETCAP.COM

The downside action in the EOS market stems from uncertainties related to the blockchain that powers the token. Investors and traders are worried about EOS longevity as a “decentralized” blockchain project, with new reports proving how highly centralized the project has become lately. For a project that raised $4 billion in an initial coin offering round, the EOS as an asset must appear overvalued to many owing to its latest hype-bust.

EOS was among the investors’ favorites mainly because it was the only coin to have surged better…

[ad_2]

Source link

Tags:
, , , , , , ,