Today is shaping up to one of the strangest days in cryptocurrency history. Although the overall trend is incredibly bullish, there is a genuine fear this may be another massive bull trap. As $10bn has been added tot he overall market cap in quick succession, sustaining the growth becomes complicated. The EOS price is one of the strongest risers today.
While all currencies have been waiting for a Bitcoin bull run, it would appear that is exactly what has materialized over the past few hours. This sudden spike across the board took nearly everyone by surprise, as there hasn’t been any reason to warrant a bull trend. Even so, everything is coloring green right now, which is exactly what enthusiasts have been waiting for.
As far as the EOS price is concerned, it seems the gains are piling up rather quickly. More specifically, there is a 15.8% increase in USD value, bringing the price back to $2.72. In EOS/BTC, some strong gains are to be noted as well. A 7.3% gain while Bitcoin grows more bullish is quite interesting in many different regards.
Why the value of EOS is going up, remains to be determined at this point. Some interesting developments have become apparent on social media. EOS Authority is the first EOS block validator to reach 23,000 unique votes. A major milestone for this project, but also a positive sign for EOS as a whole. Positive growth often gets price speculators excited.
(1/2) We at EOS Authority are proud to represent the voice of the community from Day 1. Today we became the first to cross 23,000+ unique voters. Our focus and commitment didn’t change, we will provide more tools and contribute to security keeping the community safe #eosio pic.twitter.com/YurSY3mniV
— EOS Authority (@EOSauthority) February 8, 2019
Secondly, it would appear a new scaling solution has become available where this ecosystem is concerned LiquidApps is the name of the project. It can “trigger a massive shift”, according to the associated YouTube video. There is a lot of room for future growth and potential in the crypto world. Unlocking it has proven to be challenging first and foremost.
LiquidApps offers an EOS scalability solution that is going to trigger a massive shift in the EOSIO ecosystem.
— EOS Weekly (@EOSWeekly) February 8, 2019
For those who are not content with the price gains themselves, exploring arbitrage opportunities is a good way to make some extra money. The value of EOS is quite different between some of the bigger exchanges, which allows for easy profits to be pocketed. Although liquidity on Gate and Paribu is not necessarily optimal, there is still room for effortless EOS profits.
All of the signs point toward an even more bullish weekend of crypto trading. As has been the case more often than not, however, weekends usually offer completely different market momentum first and foremost. The past weeks have been bearish, which doesn’t mean this week will be any different.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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