EOS, the ever-popular Ethereum competitor, seems to have had a stroke of luck, as it has seen the price of its associated token surge upward by nearly 30% over a 24-hour period. Beginning on Sunday, February 17th, the price of EOS took off from $2.90 and soared to $3.75 by Monday night, allowing the coin to reach the highest value that it has seen since last November.
This has, as a result, driven up the EOS market cap as well: the total value of the EOS token supply hit approximately $3.3 billion on Monday. The coin took on the title of “fourth largest cryptocurrency,” surpassed only by Bitcoin, Ripple, and Ethereum. However, it is not clear if there is much substance beneath the price surge and the ensuing hype.
No Clear Reasons For Surge
It is very unclear what could have caused this price surge, as no major events…