EOS price (EOS/USD) hits two-week low amid broader crypto downtrend

The EOS price (EOS/USD) has plunged to its lowest level in two weeks, making EOS one of the biggest losers in today’s downbeat crypto market.

Unlike some of its major rivals, such as Ripple (XRP), EOS had an eventful session on Sunday, as its price jumped to a two-day high of $3.61 in the early hours of trading. However, during the afternoon hours, the fourth-largest cryptocurrency on the market experienced a pull-back that erased much of its early progress. The coin finished the session at $3.55, only slightly higher than its opening price of $3.52.

The Monday session, however, has been much more difficult for EOS, whose performance has been significantly affected by a larger cryptocurrency downtrend. EOS has not only failed to resist the market-wide downswing, but it has so far been the worst performer of all top 10 digital coins. Firstly, the coin took a big hit in early trading, with its price tumbling to around $3.30. A few hours later, it suffered another blow, plunging to a two-week low of $3.21. EOS has seemingly managed to weather the storm in the afternoon, but so far it hasn’t been able to make a decisive comeback. At the time of writing, the EOS price was hovering around $3.30, according to data from digital currency tracker Coinmarketcap.

Meanwhile, EOS has seen a big increase in trading activity today, with recent data showing that just over $1.5 billion worth of EOS tokens have changed hands in the past 24 hours. This is well above EOS’ Thursday daily trading volume of roughly $1 billion.

In today’s trading, the EOS price stood at $3.28, as of 14:57 GMT. The digital coin has lost 7.6% of its value in the past 24 hours, Coinmarketcap data shows. Its total market capitalisation currently stands at almost $3 billion.