Crypto market on the rise

February 22, 2019   EOS

Crypto market on the rise with EOS and Litecoin as top performers


The crypto market is finally seeing gains, after more than a year of bearish influence which resulted in the longest, most harsh crypto winter in the last decade. While the coins are not out of the woods yet, the current situation seems to be a genuine recovery which already added billions of dollars back to the total market cap.

The current surge has affected pretty much all the coins on the market to some degree, although it is clear that the leaders are EOS and Litecoin (LTC), followed by Binance Coin (BNB) and Stellar (XLM).

In fact, BNB and XLM were the original two leaders of the surge, although EOS and LTC quickly took the lead, and their growth brought the total market cap back to $135 billion. This is also the amount that the crypto market attempted to reach ever since January 10th, when it sank below it.

At the time of writing, EOS holds the position of the 4th largest coin by market cap, with a cap of $3.42 billion, while Litecoin is only a step behind at the 5th spot with a market cap of $3.005 billion. The two coins were never really rivaling in regard to their goals, although they were constantly attempting to outperform each other for the fourth position on the list of largest coins by market cap.

This is the spot that was previously held by Bitcoin Cash, which currently occupies the 6th place on the list.

EOS


EOS has been experiencing the largest growth in terms of percentage among the top ten largest coins, with over 7% gained. At the time of writing, its price is at $3.7898, although the coin's price is currently going through a correction, which caused it to start losing value, at least for the time being.

Even so, its price is currently higher than it was in the last three months, which many have taken as proof that the crypto winter is coming to an end. The coin's trading volume is the largest on OKEx exchange, with around $215 million being traded on this exchange in the last 24 hours. This amounts to over 10% of the total EOS trading worldwide, with the most popular trading pair being against USDT. Apart from OKEx, EOS is also seeing large trading volume on Huobi General ($107.38 million), followed by DigitFinex ($104.93 million).

Litecoin (LTC)


As mentioned, Litecoin is not far behind EOS in terms of position, market cap, or its increase in the last several days. The coin was keeping a fragile balance in the first days of February, attempting to climb above $35, which finally happened after a surge on February 8th. The coin's sudden growth allowed it to surpass both BCH and EOS on the occasion, although EOS later took the lead once again.

However, LTC continued to rise until it reached $45. Following this surge, its price dropped to $41.46 for a brief amount of time, until the coin skyrocketed once more, breaching $50 mark yesterday, February 20th. This was the first time LTC went past this mark since the second market crash of 2018, which occurred in mid-November.

At the time of writing, however, Litecoin is experiencing another correction which brought it back to $49.547, although it is still possible that the coin will continue its growth in the following days.

February 20th has also brought Litecoin's market cap above $3 billion, where it still remains right now. This is also the first time this has happened since November 2018, indicating that the market is attempting to repair the damage caused by the second market crash at the moment.

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