SPY414.92-5.67 -1.35%
DIA332.96-5.20 -1.54%
IXIC14,030.38-130.97 -0.92%

What's Going On With EOS Cryptocurrency?

The token of EOS (EOS), a decentralized applications, or DApp, centered platform aimed at developers, traded nearly 50% higher on Tuesday night. What Happened: EOS traded 48.43% higher at $13.82 at press time and is up 107.11% in a seven-day trailing perio...

05/11/2021 21:39

The token of EOS (EOS), a decentralized applications, or DApp, centered platform aimed at developers, traded nearly 50% higher on Tuesday night.

What Happened: EOS traded 48.43% higher at $13.82 at press time and is up 107.11% in a seven-day trailing period.

See Also: How to Buy EOS (EOS)

EOS saw the most gains in a 24-hour period among the list of cryptocurrencies arranged by CoinMarketCap.

Other significant gainers in the period included yearn.finance (YFI) and Polygon (MATIC), both of which shot up 45.71% and 24.05% and were trading at $88,347.95 and $1.07 respectively. In comparison, Bitcoin (BTC) traded 3% higher at $57,238.81.

Block.one, the company associated with EOS, announced the launch of Bullish Global — a new cryptocurrency exchange, as per a statement.

Why It Matters: Block.one said it will utilize EOSIO and EOS Public Blockchain to “produce a cryptographically validated, provable, and immutable audit trail of all transactions processed on the Bullish platform.”

The statement said that Bullish Global has been capitalized with $10 billion in cash and digital assets, which includes $100 million, 164,000 BTC and 20 million EOS through the completion of an additional $300 million strategic investment round.

Investors in the new cryptocurrency exchange include PayPal Holdings Inc (NASDAQ:PYPL) co-founder Peter Thiel, Hong Kong billionaire and Chairman of PCCW Ltd (OTC:PCCWY) (OTC:PCWLF) Richard Li and Nomura Holdings, Inc’s (NYSE:NMR) investment bank unit. 

Lately, Ethereum (ETH), which is known for its DApp capabilities, hit a series of all-time highs, the latest on May 10 when it touched $4,197.47. ETH traded 8.25% higher at $4,182.57.

Read Next: What's Driving The Ethereum Rally?