FOMO Moments Current performing altcoins are EOS, Ethereum, Tron and Decred.
Finally there has been some good news to lift crypto markets as the week comes to an end. The SEC’s decision not to consider Ethereum as a security has provided a long needed boost to cryptocurrencies. The markets are still way down but are trading slightly higher over 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 been the big driver of market movement, initially jumping 10% on the news but now trading at $513, up 5% on the day. Altcoins are generally in the green, bouncing a little from a week of heavy losses. The leading coin if the day during Asian trading this morning is EOS.
Coinmarketcap is currently reporting an 8% jump for EOS which is trading at $11.07. This time yesterday EOS was around the $10.25 level and over the week it has shed over 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 been falling, but altcoins faster, so weekly losses on Bitcoin have been 7.8% from 182000 satoshis this time last Friday.
The EOS mainnet is now finally live which has driven this momentum. The gains have been 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 new 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 as currently it equates to a small number of entities controlling a large portion of the network.
Regardless, EOS is the top performing