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Can EOS Stay Up And Maintain The Fourth Position Ranking?

31 january 2019, 11:35 by John Kiguru

Can EOS Stay Up And Maintain The Fourth Position Ranking?

The last couple of days have seen the market wipe out billions in a massive sell-off. One of the biggest losers was Bitcoin Cash BCH which lost over 10% of its value. In its demise, EOS rose. Although EOS also recorded substantial losses, they were not nearly as much as Bitcoin Cash. This saw EOS overtake Bitcoin Cash in ranking, making EOS the fourth largest cryptocurrency by market capitalization.

At the time of press, the margin between the two is dropping with Bitcoin Cash only $100 million short of retaking its title. EOS which is at the time of press rallying by a little over 2% will need to pick up the pace and match Bitcoin Cash which is up by over 5% if it is to stay fourth.

The recovery by EOS today, has seen it climb close to its trading range prior to the earlier week drop. Persistence over the coming days could see the coin get back above $2.40, one of its more optimistic positions for investors.
EOS Ranked Top Blockchain

Although in recent months EOS has been slow in developments and has largely been out of the headlines, the project has been ranked top blockchain in China.

A government-sponsored ranking system has voted EOS the best blockchain despite its token being fourth. This is the third time the project is ranked first after being named in June 2018 and December 2018. Its superiors, in terms of market cap, have been ranked as follows- Bitcoin 15, Ripple 20 and Ethereum 2.

EOS has been slow in developments in the last couple of weeks and the current wider market mood has not made it easy for EOS prices to be bullish. For EOS prices to exhibit consistent positive movement, the wider market will have to be more stable and the EOS project show distinguishable developments that impact the industry.

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