EOS Prices Jump 22% on Airdrop Optimism

EOS moved into the top five cryptocurrencies by market capitalization after a 22% jump in EOS prices Thursday.

The uptick in EOS has been tied to the eosDAC airdrop, which is scheduled to occur on April 15. During that time, Ethereum wallets holding at least 100 EOS tokens will receive an equal amount of eosDAC tokens, according to CCN.

EOS Prices

Here is a recap of the top cryptocurrency prices at 11:30 a.m. EDT (returns in last 24 hours).

  • Bitcoin: $7,608.43, +9.69%
  • Ethereum: $464.13, +10.20%
  • Ripple: $0.553, +11.10%
  • Bitcoin Cash: $707.67, +8.11%
  • EOS, $8.83, +22.42%
  • Litecoin: $121.48, +5.42%

Now that we know all of today's price movements, here's what has been moving these cryptocurrencies...

Cryptocurrency News Today

On Thursday, the market capitalization of the global cryptocurrency sector hit $297.90 billion

Bitcoin comprised 43.3% of the total cryptocurrency market, with a market cap of $129.00 billion.

The top performer in the space was Mithril, which skyrocketed 141.80% over the last 24 hours.

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The coin and project's partners and advisors include Pantera Capital, Sora Ventures, and QTUM Foundation.

Other top performers from the top 50 cryptocurrencies included Steem (up 42.64%), Bitcoin Private (up 21%), Cardano (up 18.67%), Loopring (up 17.42%), Zilliqa (up 16.87%), IOTA (up 16.60%), Bytom (up 16.45%), BitShares (up 16.21%), and OmiseGo (up 15.62%).

The worst performers from the top 50 cryptocurrencies included Bitcoin Diamond (down -5.25%), Ontology (down -0.24%), and Tether (down -0.16%).

Bitcoin Prices Push Past $7,000

The price of Bitcoin climbed well past $7,000 today, and the surge in Bitcoin prices was most likely due to a short squeeze.

A short squeeze occurs when individuals who are betting against an asset are forced to buy it in order to exit their positions.

Markets have also been anticipating that prices would push higher should investors begin to pile back in around tax season.

As we noted yesterday, the cryptocurrency bear market is looking to wind down and present investors with a number of attractive buying opportunities.

Today, some of the biggest cryptocurrency news is about a bank being sued because of fees added to attempted cryptocurrency purchases...

JPMorgan Faces Backlash Over Crypto Fees

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A lawsuit has been filed against JPMorgan Chase & Co. (NYSE: JPM) in federal court.

The suit charges that the financial institution hit customers with several surprise fees when it prohibited customers from purchasing cryptocurrencies with credit cards in January 2018.

The company began reclassifying the orders as "cash advances."

The class-action suit says that JPM charged much higher interest rates on the cash advances than on credit card purchases.

Customers allege that the company refused to refund these charges when requested.

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About the Author

Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.

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