After several days of bullish market momentum, cryptocurrencies now find themselves in the middle of a corrective slump, demonstrating once again how volatile crypto really is. However, not all cryptocurrencies are in the red. While Bitcoin reversed yesterday’s gains and remains below $9,000, EOS and OmiseGO have managed to retain upward trends.
EOS nears all-time high
All eyes are on EOS as the token approaches its EOS.io mainnet launch, which is scheduled for June 2. In approximately forty days, EOS will migrate from the Ethereum network to its own blockchain, promising increased speed, reduced costs, and more security.
The upcoming mainnet launch has certainly played a major role in boosting EOS at a time when most altcoins are plummeting. Popular cryptocurrency exchanges Binance and Bitfinex have both announced their full support for the launch, assuring users of a token swap. Moreover, big names like Huobi and Antpool are currently in the run to become EOS block producers, certainly increasing the coin’s appeal. With EOS now in fifth place on the list of coin ranking by total market capitalization, traders are looking into it as a profitable investment.
A bull market revival around the date of April 11 set the stage for EOS to rally. This past week, EOS has seen a 63% price increase. On Tuesday, the token climbed above $16 before falling below $15. Nonetheless, given its recent stellar performance, EOS remains in the realm of possibly surging above $18 and reaching a new all-time high.
OmiseGO’s sudden spike
OmiseGO’s market performance over the past few weeks has been nothing short of impressive. Starting off the month at approximately $7.50, OmiseGO’s price has more than doubled. OmiseGO saw an incredible 25% price gain overnight thanks to the recent announcement that the coin will soon be listed on Korean cryptocurrency exchange Bithumb. At the time of writing, OmiseGO is trading just below $20.
Another factor contributing to OmiseGo’s rise its highly-awaited hard spoon, which is said to be one of the most significant events for the network this year. With both OmiseGO and EOS making big moves this year, they are both definitely worth keeping tabs on in the months ahead.Trade here