Asian Cryptocurrency Trading Roundup May 2: EOS Passes Ethereum in Trade Volume


The crypto selloff that started this week has abated and markets are relatively stable, and even up marginally, this morning in Asia. Total market capitalization is over $420 billion at the moment which is a little higher than yesterday’s level. Bitcoin has hovered around $9,000 over the past 24 hours and has gained just under 1%. Altcoins are nearly all in the green with of course one or two performing much better than the others. Today’s altcoin of the morning is EOS, and Verge is not far behind.

We seem to be featuring the same cryptocurrencies time and time again on ‘fomo moments’ which is testament to their resilience and performance when the digital chips are down. Coinmarketcap is reporting a 12% climb for EOS which is trading at just under $19 at the moment. It took a hit yesterday and fell back to $16.75 but has recovered well. On the week EOS has gained 37% from $13.8 this time last Wednesday and reached a new all-time high of $22.79 on April 29. The monthly picture shows this altcoin being one of the top performers with a 215% increase from around $6 this time last month. Against Bitcoin EOS is up 11% on the day to 209000 satoshis from 187000 sats this time yesterday.

EOS has currently surpassed Ethereum in terms of trade volume with $3 billion traded in the past 24 hours. ETH has only managed $2.4 billion in the same period. It is the hot crypto at the moment and momentum continues to build. No new announcements have driven price action so it seems that investors are looking to get into the next big thing in crypto.

Most of that $3 billion in trade volume has been handled in Southeast Asia this morning. All major exchanges such as OKEx, Bithumb, Upbit, and Huobi have shared trade with almost 70% between them. Pulling away from Cardano in 6th place, EOS now has a market cap of $15.6 billion and is chasing down BCH in fourth place.

Total crypto market capitalization has climbed marginally on the day by 4% to $423 billion, however total trade volume has dropped 25% to $23 billion over the 24 hour period. The only other altcoins in the top 25 with double digit gains during Asian trade are Verge on 12% and Aeternity on 10%. Cardano, Stellar and Lisk have also had a good morning with around 9% gains.

More on EOS can be found here: https://eos.io/

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.