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How EOS Left Litecoin in the Dust Earlier This Week

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EOS

The Cryptocurrency market is a Bastian of volatility compared to other markets, with several cryptocurrencies changing positions on a daily basis. Investor sentiment is the main driving force behind the market and has helped many projects expand in value in the past. However, the top 5 spots have remained unchallenged until now, when the EOS overtook Litecoin’s market cap for a brief period this week. Litecoin, which has proven itself to be quite stable in recent years, is under threat for the first time after EOS’s latest price surge.

EOS and Litecoin’s Background at a glance

Litecoin and EOS are both familiar names in the crypto-space, with Litecoin appearing in 2011, way before EOS’s 2017 entrance. Both have been touted as the next best project after ripple and Ethereum, which in turn has made them popular among small-time traders and seasoned investors alike.

Developed in 2011, Litecoin was designed as a peer to peer crypto project with an aim of creating open source software licensed under MIT/X1. The project was spearheaded by Former Google Employee Charlie Lee, initially introduced as a fork of the original Bitcoin core client, with a faster block generation time. After reaching the one billion milestone in terms of market cap, Litecoin has been expanding ever since, amassing a huge $7,287,062,310 USD market cap as of 13/04/18. It also has a circulating supply of 56,060,363 LTC tokens and is currently valued at $129.99 USD.

EOS, on the other hand, is a relative newcomer to the crypto-space, debuting as recently as 2017. The EOS team aims at providing software that enables vertical and horizontal scaling of any decentralized applications. It has a very “operating system” like approach, where applications can be developed. The EOS tokens use a new blockchain platform that utilizes a “delegated proof of stake or DPOS” model. As of 13/04/2018, EOS has a market cap of $7,268,386,057 USD, falling just short of Litecoin’s present market cap. However, the two have been fighting out for dominance in past weeks and a clear winner cannot be far from the present.

Reasons behind EOS’s success:

On 12/04, EOS increased by more than 30percent in value over the last 24 hour period and reached a market cap of nearly $7.1 Billion, briefly overtaking Litecoin for the first time. This put EOS in 5th spot, trading near $8.85 as of 10:38 am (Eastern Time). A lot of factors culminated in EOS’s rise, which we will discuss in brief below.

  1. Airdrop Announcement: Much of EOS’s gains can be attributed to the recent airdrop for EOS holders as well as the rumor of a possible eosDAC token airdrop along with at least 100 EOS token to all EOS holder’s accounts. This sparked market sentiment, as investors were flocking in numbers to get a slice of the action.
  2. ios: Another part of EOS’ positive support is its dedicated team of developers and the overall transparency of the project.’ The Devs announced that a platform for the EOS tokens, called EOS.ios isolated for release later this year. The fruition of this project would result in a higher degree of adoption by the general populous of crypto-related projects.
  3. John Oliver Criticism: On March 11th, EOS, as featured on popular talks, show “Last Week Tonight” hosted by John Oliver. He expressed his doubts over the Cryptocurrency concepts and used EOS as an example to make his point of criticism. While such a mainstream feature in a negative light would have been disastrous for a company’s image, had quite the opposite effect following EOS developer Block.one’s lengthy explanatory blog post. EOS value, instead of decreasing, steadily increased at a constant rate.

Final Thoughts

Both EOS and Litecoin are solid Cryptocurrency projects which are touted to be two of the most successful blockchain related projects in the near future. Both of them have stable ecosystems and efficient platforms to work with. However, since investor sentiment plays a key role, Litecoin’s price was severely affected following the “Litepay” debacle that happened recently. EOS, on the other hand, has been receiving positive support from the community and is hoping to expand its influence worldwide. Even though Litecoin has reclaimed the number 5 spot once again, EOS is close behind and is expected to overtake Litecoin once again in the near future.

We will be updating our subscribers as soon as we know more. For the latest on EOS, sign up for our free newsletter!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of David DeHetre via Flickr

Blogs

How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

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