Asian Cryptocurrency Trading Update: EOS Leads on Mainnet Launch, NewsBTC

FOMO Moments

Current performing altcoins are EOS, Ethereum, Tron and Decred.

Ultimately there has bot some good news to lift crypto markets spil the week comes to an end. The SEC’s decision not to consider Ethereum spil a security has provided a long needed boost to cryptocurrencies. The markets are still way down but are trading slightly higher overheen the past 24 hours clawing back some of those losses. Bitcoin has not done much and has made just 1.7% to $6,620, only $400 above its low for the year. Ethereum has bot the big driver of market movement, originally hopping 10% on the news but now trading at $513, up 5% on the day. Altcoins are generally ter the green, bouncing a little from a week of intense losses. The leading coin if the day during Asian trading this morning is EOS.

Coinmarketcap is presently reporting an 8% leap for EOS which is trading at $11.07. This time yesterday EOS wasgoed around the $Ten.25 level and overheen the week it has shed overheen 21%, down from $14 this time last Friday. The past month has seen similar losses for EOS which traded around the $14 level this time last month. Against Bitcoin EOS has made 6.4% on the day to 168000 satoshis from 157500 sats this time yesterday. BTC has bot falling, but altcoins quicker, so weekly losses on Bitcoin have bot 7.8% from 182000 satoshis this time last Friday.

The EOS mainnet is now eventually live which has driven this momentum. The gains have bot even greater than Ethereum’s which is already pulling back. The EOS ERC-20 tokens are now frozen and supporting exchanges will convert to the fresh blockchain. It has reached the voting threshold to elect the 21 block producers with 15% or 150 million ‘votes’. However there are big concerns about the decentralization of EOS spil presently it equates to a petite number of entities controlling a large portion of the network.

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Regardless, EOS is the top performing altcoin at the uur, traded primarily on Asian exchanges Huobi and OKEx te USDT. South Korean trade on Bithumb and Upbit also accounts for 20% ter KRW. Total trade volume has remained constant at around $1.Trio billion however market cap has fallen to under $Ten billion spil cryptos proceed their downward slide.

Total crypto market capitalization overheen the past 24 hours has clawed back Trio.2% primarily on the SEC ruling and presently stands at $287 billion. Volume has remained stable at $16 billion but the bears are still ter control spil markets have plunged 16% overheen the past week. A few other altcoins are performing well during the morning’s Asian trading session and they include Ethereum, Tron up 7.7%, and Decred 8.4% higher on the day.

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More on EOS can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.

3 thoughts on “Asian Cryptocurrency Trading Update: EOS Leads on Mainnet Launch, NewsBTC

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