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The EOS cost leaped by far more than 30 per cent on Wednesday, headlining a rally that saw the cryptocurrency market place cap swell by more than $6 billion.
EOS Price Headlines Market Rally with 30 % Surge
On Wednesday, the EOS price tag exploded by an eye-popping 33 p.c, outpacing just about every other leading 100-cryptocurrency.
At present, EOS is trading at $7.96 on Binance — up from considerably less than $6 on Tuesday — which interprets into a $6.2 billion circulating industry cap and locations the token just $200 million behind Litecoin for the fifth location in the current market cap rankings.
The rally has correlated with a surge in trading volume. At existing, 24-hour EOS volume exceeds $1.2 billion, which is fourth amid all cryptocurrencies and just $100 million beneath that of Ethereum.
A plurality of EOS buying and selling quantity is concentrated in South Korea, with KRW pairs at Bithumb and Upbit comprising 42.5 per cent of the token’s global volume. On the other hand, the remainder of the cryptocurrency’s quantity is relatively perfectly dispersed, equally among exchanges and forex pairs.
EOS Bull Operate Seems Linked to Approaching Airdrop
The existing EOS rally seems to be largely related to the eosDAC airdrop, whose blockchain snapshot is scheduled for April 15.
On that day — which marks the 300th day of the EOS first coin presenting (ICO) — all Ethereum wallets holding at minimum 100 EOS tokens will acquire an equal range of eosDAC tokens, which will eventually be transferred to the EOS mainnet after it launches later on this 12 months. Buyers holding less than 100 EOS tokens will ultimately be able to claim their airdropped eosDAC tokens as perfectly, however they will have to do so manually.
Cryptocurrencies normally see cost surges forward of an airdrop, only to tumble into decrease after the blockchain snapshot locks airdrop balances. For that reason, it would not be shocking if EOS fails to sustain this momentum foremost into next 7 days.
Featured graphic from Shutterstock.