EOS Plunges 16% in Steepest Daily Decline Since January

The cryptocurrency EOS suffered a sharp sell-off on Monday, plunging 16.09% in its largest single-day percentage loss since January 29. The digital asset was trading at $0.0657 by 16:00 GMT, according to data from the Investing.com Index.

Details of the Decline

The downward move pushed EOS to the low end of its daily trading range. In the 24 hours leading up to the price drop, the token had traded between $0.0631 and $0.0657.

Trading volume for EOS over the 24-hour period was reported at approximately $33,093. The sharp decline contrasted with its recent performance, as the token's value had remained relatively stagnant over the past seven days, moving just 1.87% within a range of $0.0613 to $0.0677.

Broader Market Context

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The sell-off in EOS occurred while the broader cryptocurrency market saw modest gains. The two largest cryptocurrencies by market capitalization were both in positive territory during the same period.

• Bitcoin (BTC) was last up 0.48% on the day, trading at $64,956.9.
• Ethereum (ETH) posted a gain of 1.81%, trading at $1,948.00.

At its current price, EOS remains down 99.71% from its all-time high of $22.98, which was set on April 29, 2018, as per Investing.com data.