RATE Group | Why did EOS suddenly jump 33%, more than any other cryptocurrency?
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Why did EOS suddenly jump 33%, more than any other cryptocurrency?

19 Dec Why did EOS suddenly jump 33%, more than any other cryptocurrency?

Posted at 03:26h in Cryptocurrency News by

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What prompted EOS to outperform the market yesterday? It’s relative valuation against Bitcoin may hold the key. 

After a brutal month of declines and blast after blast of adverse news, EOS rallied above the rate of a recovering market yesterday. At points, it recorded a 33% uplift over 24hrs (between 4am December 17th and 4am this morning, GMT), and briefly broke above $2.60 valuation for the first time in two weeks according to CryptoCompare.

Having dipped back as low as $2.40 in recent hours, it currently sits at the $2.50 mark – a 15% rise on its price 24hrs previously.

Around 44% of the trade in EOS since in the last 24hrs has been in pairs with Tether (USDT), with BTC accounting for another 24% of the pairings share. The largest portion of that USDT business is done via OKEx, which began offering margin trading – albeit limited to 3x leverage – on EOS back in September. It accounts for about 35% of the EOS/USDT pair volume; more than twice the amount of…

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