EOS spikes by 6.91% following Coinbase listing announcement

The cryptocurrency market underwent a major bull run last week after a majority of the coins’ prices shot up. The total market capitalization was a staggering $182 billion, at press time.

Brendan Blumer’s EOS continued to follow this bullish wave as the virtual currency spiked by 6,91% over the past 24 hours.

Source: CoinMarketCap

At press time, the token witnessed a minor decline of 0.29% over the past one hour. However, the coin spiked by 6.91% over 24 hours. The virtual asset also boasted a significant growth of 12.01% over the past 7 days; placing it second in the list of the week’s top gainers, after Bitcoin Cash [BCH].

The coin was valued at $5.80, with a market capitalization of $5.2 billion. The trade volume over the past 24 hours showed enormous growth, with a recorded value of $3.42 billion.

Source: TradingView

One of the speculated reasons for this sudden surge in valuation is the fact that the EOS’s trading pair was active on the Coinbase Pro platform, at press time. The crypto platform recently announced its support for EOS, as well as other cryptos such as Maker and Augur.

However, the volume indicated by the chart did not appear massive as the announcement was made late and it was unlikely for the traders to be aware of the development. Hence, the coin’s volume, and maybe even it’s price, is expected to surge higher once news of the development reaches all corners of the cryptospace.

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Biraajmaan Tamuly

Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a…

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