Altcoin News

EOS FOMO Heats Up Pushing Crypto Markets to New Ten Month High

Another day brings another new 2019 market capitalization high for cryptocurrencies. There seems to be no stopping the bulls at the moment as Bitcoin takes a breather just below $9k.

The altcoins are in the driving seat today and one in particular is making big moves. EOS has spiked 15 percent today to flip Litecoin and take fifth spot on the market cap charts. From $6.90 the Ethereum rivaling token surged to an intraday high of $8.05 before pulling back slightly. Daily volume for EOS has pumped to $5.2 billion and its market cap is now over $7 billion.

FOMO For EOS on B1 Hype

EOS is currently the top performing altcoin in the top one hundred and its performance has pushed total crypto market cap up to a new high for the year. The big Washington EOS event on June 1 appears to be driving momentum. The B1 event will include an updated roadmap, a yearly product release cycle, and updates on the B1 social media dApp. Additionally B1 have registered the trademarks MEOS and XEOS and big announcements are expected for the platform.

There is also recent news that Block.one purchased 3.3 million tokens worth of RAM on the mainnet in the run up to the event.

The Chinese have also given EOS a boost by ranking it above both Tron and Ethereum though these ratings are highly subjective. The FOMO is flying today as EOS reaches its highest price since July 2018.

Litecoin continues to climb adding another 2.5 percent today to remain over $115 and it is very close in terms of market cap to EOS.

Tron and BitTorrent token are also on a roll today climbing 10 and 13 percent respectively. BTT has just been listed on KuCoin and the BT file system is about to be launched which, according to the blurb, aims to be the number one decentralized file storage plan for developers. Justin Sun has been promoting the project leading up to its launch later this week and his two tokens are getting their share of the daily FOMO;

A few hours ago total crypto market cap hit a new 2019 and ten month high of $278 billion. It is currently up $5 billion, or around 2 percent, from yesterday’s levels, largely driven by altcoin movements. Bitcoin’s market dominance has fallen back below 57 percent but only just. That could all change if BTC surges to $9,600 as analysts predict.

Martin Young
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Martin has been writing on technology and forex for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.
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