Cryptocurrency Markets Gear into Recovery Mode as EOS Rises 8%
The cryptocurrency markets appear to be in recovery mode on Monday after a rather torrid week where most coins reached 2018 lows.
Chief of the pack was EOS which sees an 8% rise to trade at well over the $7.30 level after having dropped as low as $6.50 last week.
However, the increases were not limited to EOS since other currencies also registered impressive increases. Stellar Lumens pushed forward and easily sailed over the $20 mark in the past 24 hours to settle at the $0.22 level at press time on Monday. Cardano was also up by around 5% to trade at the $0.145 level, also showing considerable momentum after having dropped to below the $0.13 level only a couple of days ago.
Bitcoin also recovered, although at a slower momentum than other currencies. The price was at around $6350 on Binance at press time on Monday, a 3% increase after it had dropped to below the $6100 level on Friday. EOS had an excellent 48 hours with the price rising by at least 15% over that period and traded at $7.30 at press time. Ripple also showed positive movements and after dipping dangerously close to the $40 level, it charged forward with a 5% increase, nearly touching the $0.45 mark.
Ethereum was also up by around 5% over 24 hours to trade at just below the $450 level although there were also signs that there could be a price pump in the not too distant future. Turnover seems to have increased over the apst 24 hours and this always bodes well for a rally.
Bitcoin Cash also maintained the upward momentum achieved on Sunday where it maintained a price of between $720 and $730 after having dropped to below the $680 mark a couple of days ago.
Litecoin also seemed to be in recovery mode and was trading at well over the $78 mark having dropped to well below the $75 level as recently as Friday. The 2% move forward also came on the back of further announcements that the currency was being adopted upon an array of payment systems. NEO also showed a positive movement forward rising by about 5% and trading at around $33.50 at press time.
Dash continued its slow recovery where it traded close to the $230 level on Monday at press time whilst IOTA once again traded at above the $1 level. The only currency in red in this sea of green was VEChain which saw a decline of around 10% to the $1.70 level. Other coins such as QTUM, ICX and ONT saw more modest increases of around 3%.
Featured image from Shutterstock.
• Join CCN's crypto community for $9.99 per month, click here.
• Want exclusive analysis and crypto insights from Hacked.com? Click here.
• Open Positions at CCN: Full Time and Part Time Journalists Wanted.