Story
EOS Tumbles Over 15% in Sharp Weekend Sell-Off
Summary
The cryptocurrency EOS experienced a significant price drop of over 15% on Saturday, marking its largest single-day percentage loss since July 4. The decline occurred while major cryptocurrencies like Bitcoin and Ethereum posted modest gains.
The cryptocurrency EOS saw its value fall sharply on Saturday, trading at $0.0564 by 02:11 AM (06:11 GMT), according to the Investing.com Index. The price represented a 15.06% decline for the day, the most significant single-day percentage drop for the asset since July 4.
The downward move pushed the token to the bottom of its 24-hour trading range of $0.0564 to $0.0675. At its peak, the market capitalization for EOS had reached over $17.5 billion.
Despite the sharp daily loss, EOS has seen a gain of 8.47% over the past seven days. However, the token remains significantly below its peak value, currently trading 99.75% lower than its all-time high of $22.98, which was set on April 29, 2018.
AdThe sell-off for EOS appeared to be isolated, as the broader cryptocurrency market showed signs of stability. During the same period, Bitcoin was up 1.26% to $62,477.7, and Ethereum gained 2.47%, trading at $1,758.37.