Story
EOS Plunges Over 15% in Sharp Weekend Sell-Off
The cryptocurrency EOS plunged more than 15% on Saturday, marking a sharp reversal for the digital asset. According to the Investing.com Index, the price of EOS fell to $0.0564 by 02:11 AM ET (06:11 GMT), its largest single-day percentage loss since July 4.
Price Action and Key Metrics
The sell-off pushed EOS to the bottom of its 24-hour trading range of $0.0564 to $0.0675. The move significantly eroded the token's market capitalization, which at its peak stood at over $17.5 billion, according to data from Investing.com.
This latest price places the cryptocurrency 99.75% below its all-time high of $22.98, which was set on April 29, 2018. The trading volume for EOS in the preceding 24 hours was relatively low at approximately $36,356.
Market Context
AdThe sharp decline in EOS's value contrasted with the performance of the broader cryptocurrency market. During the same period, major digital assets posted modest gains:
- Bitcoin was up 1.26% to trade at $62,477.7.
- Ethereum gained 2.47%, reaching a price of $1,758.37.
The divergence suggests the selling pressure was specific to EOS rather than part of a market-wide downturn. Despite the severe daily drop, EOS was still up 8.47% over the previous seven days, indicating the sell-off abruptly ended a period of positive momentum.