Story
EOS Plunges Over 15% in Steep Saturday Sell-Off
The cryptocurrency EOS experienced a sharp sell-off on Saturday, plunging 15.06% to trade at $0.0564 by 02:11 AM ET (06:11 GMT), according to data from the Investing.com Index. The move marked the digital asset's most significant one-day percentage drop since July 4.
Price Action and Market Impact
The downward pressure pushed the price of EOS to the bottom of its 24-hour trading range of $0.0564 to $0.0675. The decline sharply reduced EOS's market capitalization, a stark contrast to its peak valuation of $17.5290 billion.
This latest drop adds to a significant long-term downturn for the token. At its current price, EOS remains down 99.75% from its all-time high of $22.98, which was set on April 29, 2018. Despite the severe daily loss, the token has seen recent volatility, having gained 8.47% over the past seven days.
Broader Market Context
AdThe sell-off in EOS appeared to be an isolated event, running counter to the trend in the wider cryptocurrency market. During the same period, the two largest cryptocurrencies by market value posted gains.
- Bitcoin was up 1.26%, trading at $62,477.7.
- Ethereum gained 2.47%, reaching a price of $1,758.37.
The total market capitalization for Bitcoin stood at approximately $1.25 trillion, accounting for 57.78% of the entire crypto market, while Ethereum's market cap was $211.67 billion, or 9.77% of the total, based on Investing.com data.