In the middle of the red bloody sea of declining Bitcoin, Ether, and other altcoins, the EOS token is waving a huge green flag. EOS has been on the market for a long time, but not much has been heard about the platform lately. But after such a bright performance in the background of the decline in the crypto market, EOS is being talked about again. Where did the price increase come from, and how long will it last?
In February, the price of EOS tokens began to rise significantly. Within 2 weeks, the tokens became 20.7% more expensive, and on March 3,the value jumped 8% to $1.27. In general, this is not a super result, but due to a total decline in the market and quite a long silence of news about the EOS platform itself, it catches attention.
The current price is 94% below the all-time high of $22.89 recorded on April 29, 2018.
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The trading volume in 24 hours was $429,836,072 (+124%). There are 1.10 billion EOS in circulation (the maximum is unknown). The market capitalization of EOS is $1.36 billion (+4%).
The busiest trade is on Binance with the trading pair EOS/USDT, which accounts for 13.86% of the total trading volume for the day. In second place is the South Korean crypto exchange Upbit with the trading pair EOS/KRW (South Korean Won), which accounts for 9.46% of trading. Traditionally, cryptocurrency is more expensive on South Korean exchanges. Therefore, traders often use the opportunity to sell more expensive assets bought on other exchanges for a lower price.
The same situation is observed in Turkish exchanges (Binance TR, BtcTurk Pro), where cryptocurrency is more expensive.
Judging by the number of important announcements and the efforts of ENF, the team members do have big plans to bring EOS back to its former glory.
EOS is a blockchain-based platform that allows the development, hosting, and running of decentralized business applications (DApps) and a native token of the same name.
The main use of EOS is in the DPoS (delegated proof of stake) mechanism, through which the network is able to process about 1 million transactions per second and participate in network management. EOS can also be used as a tool for speculative investments and as a means of payment thanks to instant contactless transactions.
The EOS project first appeared in 2018. However, it did not achieve much popularity. Among dApp platforms, the most popular ones remain Ethereum, Polygon, Arbitrum, Aptos, and others.
EOS was in the top 5 just a couple of years ago (data for 2021).
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