EOS, a digital currency linked to an innovative platform for decentralized applications (DApps), has been performing well lately, leading the pack as cryptocurrencies climb.
The digital asset hit an intraday high of $13.68 earlier today, up more than 11% in the space of 24 hours, according to CoinMarketCap.
At the time of report, EOS had fallen back to $12.96, but the alternative protocol asset (altcoin) was still up more than any of the other top 10 digital currencies in the last 24 hours, additional CoinMarketCap figures reveal.
[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
EOS has done well so far this year, rising to as much as $22.89 on April 29. At that point, it was up more than 160% year-to-date (YTD).
Even after retreating from this level, the digital currency has robust momentum, said Oliver Isaacs, blockchain investor and advisor.
"Despite the price slide," "EOS remains highly active and the 24 hours trading volume of the asset looks promising at $1.67 billion."
The EOS mainnet is launching June 2, and the anticipation surrounding this event has played a key role in driving the recent gains in EOS, according to analysts.
"Crypto enthusiasts from all over the globe are extremely excited about the launch of EOS main-net," said Mati Greenspan, senior market analyst for social trading platform eToro.
"This will be a groundbreaking event, the likes of which this industry has yet to see. Alternative investors are snapping up as many coins as they can get their hands on."
Isaacs also offered a positive take on the matter, stating tha...