EOS plummeted by 10.42% to $0.9910 on Tuesday, marking its most significant daily loss since January. The cryptocurrency's market cap dropped to $1.1545B, representing a 95.69% decline from its peak. EOS traded within a range of $0.9910 to $1.0388 over the past 24 hours and has lost 4.77% in value over the last week, with a trading volume of $168.5292M during that period.
EOS Suffers Significant Drop, Eclipsing 10% Loss
Zurich, Switzerland - Tuesday, February 7th, 2023 - As of 22:39 CST (02:39 GMT), EOS, a notable cryptocurrency, experienced a sharp decline in value, losing 10.42% within a 24-hour period. This represents the most significant daily decline for EOS since January 3rd, 2023.
The downward movement has significantly reduced EOS's market capitalization to $1.1545 billion, accounting for a mere 0.04% of the total market value of all cryptocurrencies. At its peak, EOS's market capitalization reached an impressive $17.5290 billion.
Technical analysis indicates that EOS has been trading within a range of $0.9910 to $1.0388 over the past 24 hours. The seven-day trend has also been bearish, with a decline of 4.77%. The trading volume for EOS during the past day amounted to $168.5292 million, representing 0.16% of the total cryptocurrency trading volume. Over the past seven days, EOS traded between $0.9910 and $1.1358.
Despite the recent decline, EOS remains significantly below its all-time high of $22.98, set on April 29th, 2018, indicating a current loss of 95.69%.
Broader Market Outlook
The broader cryptocurrency market also faced bearish sentiments, with Bitcoin, the leading cryptocurrency, trading at $67,264.0, reflecting a 5.17% loss. Ethereum, the second-largest cryptocurrency by market capitalization, experienced a 6.46% decline, trading at $3,379.60.
As of the time of writing, Bitcoin's market capitalization stood at $1,361.9904 billion, commanding 52.35% of the total cryptocurrency market value. Ethereum's market capitalization totaled $418.2415 billion, representing 16.07% of the overall market.
The recent downturn in EOS and the broader cryptocurrency market highlights the volatility inherent in this emerging asset class. Investors are advised to exercise caution and conduct thorough research before making any investment decisions.
