EOS has been free falling and the prices have slipped by 9.02% in the 24-hour time frame, and is currently trading at a depreciated price of $4.19. The market cap suffered the same fate and has come down to $3.69 billion.
In the one-day chart, the price started trading at $4.57 and the trend remained the same for a couple of hours, after which the prices started bleeding. The price took a nasty downturn at 05:30 UTC on November 19, as it plunged to $4.41.
The prices at this point were struggling to stay afloat, and the inevitable occurred causing the prices to take a massive nosedive, reaching $4.07. The market cap shaved-off 440 million, reaching $3.69 billion.
EOS has gained a bit of the ground and is starting to climb up, as it has reached the $4.20-mark, with a market cap of $3.8 billion.
The seven-day chart for EOS looks equally gruesome, with the prices starting to fall strongly by an astonishing 22.85%. The prices for this time-frame started trading at $5.42, and after nine hours of the same trend, the prices suffered a massive blow, causing it to dip to $4.48. The prices dipped twice after this point, finally reaching $4.10, where the market cap was at $3.70 billion.
The past few weeks haven’t been easy on cryptocurrencies, and especially on EOS. Despite EOS having secured the first place in terms of on-chain transactions, the prices have crashed and burned.
To make matters worse for EOS, a research conducted by Whiteblock also revealed that EOS is not a blockchain but a glorified cloud service and lacks blockchain’s most fundamental aspect, immutability.
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