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The past 24-hours have been extremely positive for the crypto sector, with all of the top-20 alt-coins in the market today gaining considerable financial traction. It is especially worth noting that of the lot, EOS, XLM and IOTA witnessed the largest gains (of around 21%, 11%, and 12% respectively).
As a result of yesterday’s economic uptrend, the total market capitalization of the alt-coin domain has risen from around $104.04 Billion to $112.2 Billion (at press time).
EOS Jumps Three Spots to Surpass USDT, LTC, and XLM
After weeks of getting pounded by a bear market, EOS is now winning the coin cap race–with the premier asset now sitting above Litecoin, Tether and Stellar in the fourth spot.
Over the course of the past day or so, EOS’s total market has jumped from a respectable $1.9 Billion to a maximum of $2.3 Billion. However, since reaching its apex, the currency has stabilized and its market cap now lies at $2.17 Billion.
— Bancor (@Bancor) December 18, 2018
Lastly, with all this information in mind, it is also worth noting that over a fortnight back, EOS was struggling to even stay in the top-8— with the currency tucked behind BCH and BSV while trading at an annual low of about $1.5.
IOTA Surges as New Details Regarding AUDI Partnership Emerge
Since yesterday, the IOTA token has been able to garner immense positive traction— with the currency currently trading in the green at +12%. This, according to many analysts is due to the IOTA foundation recently announcing to its backers that its five-month-long joint collaboration with Audi had been a “success”.
For those unaware of the above-mentioned developments, it is worth remembering that earlier this year, the team behind IOTA and Audi had decided to partner up and devise a technological breakthrough that could be used to deal with “real-world issues in the automotive space, Internet of Things (IoT) and mobility”.
— IOTA (@iotatoken) December 14, 2018
Lastly, in regards to the matter, the IOTA foundation recently released the following statement:
“The presentation was a success, and it was yet another example of the importance to explore new technologies like IOTA with a customer-centric approach.”
In addition to smaller players experiencing a massive boost over the past few hours, even premier alt-coins such as Ripple’s XRP, Bitcoin (BTC) and Ethereum (ETH) have garnered considerable financial traction since late yesterday evening. However, looking forward, it now remains to be seen how long these bullish conditions continue to persist.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.