EOS is reporting gains on a down day for the wider crypto markets and may soon rally to fresh all-time highs.
As of writing, the world’s fifth largest cryptocurrency by market valuation is changing hands at $14.61 – up 7.6 percent in the last 24 hours, according to CoinMarketCap.
Meanwhile, most other major coins are flashing red. For instance, bitcoin is reporting 1.2 percent drop, bitcoin cash and IOTA are down 12 percent each and names like ethereum (ETH), Ripple (XRP), cardano and stellar are down at least 8 percent each.
The good news for EOS does not end here: it’s also the biggest gainer among the top 10 cryptocurrencies by market cap on a week-on-week basis.
EOS’ 62 percent rally is backed by a notable 556 percent rise in daily trading volumes, indicating that strong hands are at play and the rally is here to stay.
It’s worth noting that EOS rallied sharply in the run-up to the April 15 eosDAC airdrop and, more importantly, remained well bid after the event – something of a surprise since cryptocurrencies usually rally ahead of their airdrops and then drop in value afterwards.
Read Full: EOS Is Nearing An All-Time Price High