EOS price (EOS/USD) outpaces major rivals in crypto recovery

The digital coin has received top rating from the China Center for Information Industry Development

EOS price (EOS/USD) outpaces major rivals in crypto recovery

The EOS price (EOS/USD) has gained more than 13% in the past 24 hours, outpacing the other top 10 cryptocurrencies by a significant margin.

The fifth-largest digital currency plunged to an intraday low of $7.10 on Sunday, which was its lowest level since April 11. A strong rebound allowed the digital coin to recover most of its losses and finish the day above the $8 barrier. Still, its close of $8.09 was well below its opening level of $8.46.

Following a relatively quiet morning session, EOS has been able to resume its rally in today’s afternoon trading. At the time of writing, the EOS price was hovering around $8.30, according to data from digital currency tracker Coinmarketcap. The virtual coin had reached an intraday high of $8.39 earlier in the session.

In other EOS news, last week the digital currency got the top rating in the second issue of China’s Global Public Chain Technology Evaluation Index. The monthly index is published by the China Center for Information Industry Development (CCID) of the Ministry of Industry and Information Technology and covers 30 digital currencies and blockchain projects. As noted by Cointelegraph, the index is said to be compiled by “first-rate domestic experts and scholars”.

EOS’ No. 1 position reflects the “outstanding technical advantages in transaction confirmation efficiency, network throughput, and transaction costs” of the protocol. The evaluation acknowledges that the project has encountered a number of technical issues since its mainnet went live on June 15, but still judges it to be “highly active in technological innovation,” a “new generation public blockchain” that is “currently most regarded by the industry”.

In today’s trading, the EOS price stood at $8.27, as of 16:12 BST. The digital coin has gained 13.2% in the past 24 hours. Its market capitalisation currently stands at $7.4 billion.

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