EOS plunges over 10%, losing recent bullish momentum
Investing.com – EOS saw a sharp decline on Friday, as the digital currency plunged 10.23% in just 24 hours, trading at $0.7810 as of 17:00 local time (21:00 GMT). This was its biggest intraday drop since March 3, indicating a deep correction after a previous rally.
The decline has brought EOS’s market capitalization down to just $1.2228 billion, accounting for just 0.05% of the total cryptocurrency market capitalization. This marks a significant decline compared to its record high of $17.5290 billion during the market’s peak.
Over the past 24 hours, EOS has fluctuated between $0.7798 and $0.8676 – a relatively wide range, indicating that volatility is dominating investor trading behavior.
However, looking at the broader picture over the past 7 days, EOS has still recorded an impressive gain of 35.31%, recovering from a low of nearly $0.54 and peaking at nearly $0.88 before selling off again.
However, at its current price, EOS is still 96.60% lower than its all-time high of $22.98 reached on April 29, 2018 – a long way off in the recovery journey of this coin.
Cryptocurrency Market Update
While EOS has plummeted, Bitcoin has increased by 2.23% to trade at $84,157.6 on the Investing.com Index, continuing to maintain its role as the market leader. Bitcoin's market cap is $1,666.1 billion, or 61.96% of the total cryptocurrency market cap.
Ethereum, the second-largest cryptocurrency, also saw a modest gain of 0.40%, currently trading at $1,818.91. Ethereum's market cap is $219.3 billion, accounting for 8.15% of the total market.
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