EOS showed impressive growth of 10%, exceeding the capitalization of $ 2.6 billion.

In the last 24 hours, the EOS price has surged from $2.71 to $3.06 by more than 10 percent against the U.S. dollar, reclaiming its position as the 4th largest crypto behind Bitcoin, Ethereum, and Ripple. Last week, Litecoin overtook EOS following a strong 30 percent increase in price. The surge in the price of Litecoin was mainly attributed to fundamental factors that include active development of privacy solutions Mimblewimble and Confidential Transactions.

Fueled by the momentum demonstrated by several major crypto assets in the likes of EOS, Ethereum, and Ripple, the valuation of the crypto market rose $2 billion from $120 billion to $122 billion. On February 11, a cryptocurrency technical analyst with an online alias “DonAlt” said that EOS has been showing exceptional strength. While the price of Bitcoin has declined from $6,000 to the mid-$3,000 region since November, EOS has recovered to its November levels when Bitcoin averaged at around $6,200.

Traders generally foresee EOS slightly retracing in the near-term subsequent to a strong 10 percent rally. But, in the days to come, EOS is expected to maintain its momentum against both Bitcoin and the U.S. dollar. The short-term recovery of EOS was mainly triggered by technical factors and was supported by an overall increase in the valuation of the cryptocurrency market. On the fundamentals side, the EOS blockchain protocol has demonstrated decent growth in terms of active users of decentralized applications (DApps). Earlier this month, Weiss Ratings, an independent U.S.-based provider of cryptocurrencies, stocks, and mutual funds ratings, said that EOS is ahead of TRON in DApp usage and adoption.

Crypto Rallies: EOS Surges 10% With Exceptional Strength to Hit $2.6 Billion Market Cap, CCN, Feb 13