Highly Rated EOS Sees Market Cap Hit $9 Billion as Volumes Surge

Highly Rated EOS Sees Market Cap Hit $9 Billion as Volumes SurgePublished 3 mins ago on January 26, 2018 By Sam Bourgi

EOS jumped as much as 10% on Thursday after rating agency Weiss ranked it and Ethereum tops among crypto assets. Like other cryptocurrencies, EOS has struggled to find its groove again following multiple selloffs throughout the month.

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EOS Price Levels
The value of EOS touched a session high of $16.18 on Wednesday, which would have marked the best closing price since Jan. 19. Prices have since consolidated at $14.89 for a market cap of roughly $9.3 billion.

Trade volumes in EOS approached $1.4 billion on Thursday. Earlier this week, transaction volume eclipsed $2 billion on the global exchanges.

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Bithumb is processing roughly two-thirds of total EOS transactions, which means the vast majority of trades are being placed in the South Korean won. Bitfinex, Huobi and Binance account for a much smaller share of the transaction pie.

EOS Tops Weiss Crypto Ranking
Rating agency Weiss gave EOS the highest score out of 74 cryptocurrencies in its first ever digital currency evaluation. The coin received a “B” rating, which was higher than the “C+” allocated to bitcoin.

Weiss also gave Ethereum a “B” rating because it “benefits from more readily upgradable technology and better speed, despite some bottlenecks.” Similar features comprise the EOS platform, which has the added benefits of parallel processing for faster speed, self-sufficiency and a governing regime that requires consensus for every block that is successfully mined.

A total of 734 million EOS tokens have been distributed out of a maximum supply of 1 billion. The entire token distribution is set to take place over 341 days, with the current issuance ending in about 10 hours.

An initial batch of 200 million tokens were distributed between June 26 and July 1, followed by a second round of 700 million tokens that will continue to be released evenly over 23-hour periods. The final batch of 100 million tokens will remain in reserve.

The EOS platform has a built-in feature that allows up to 5% annual inflation based on community buy-in. Unlike other token distribution methods, speed is not a factor in how many units of EOS an investors can obtain. In terms of scalability, EOS has the capacity to handle millions of transactions per second while eliminating user fees entirely.

EOS has largely remained outside of the news during the crypto market’s bull run, but has quietly put together gains of more than 1,300%. Like many other cryptocurrencies, the coin peaked in mid-January at a price point close to $19.00.

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