The EOS price (EOS/USD) has broken through the $6 barrier after gaining more than 15% in the past 24 hours.
The fifth-largest digital currency on the market enjoyed some strong trading on Tuesday, picking up from a successful Monday session, during it which it posted gains of more than 8%. Having successfully defended its gains during the early hours of the Tuesday session, the coin enjoyed some bullish afternoon trading, which culminated in a late surge that propelled the EOS price within striking distance of the $6 level. EOS closed the session at $5.90, up from its opening level of $5.35.
Despite the strong finish, EOS didn’t seem ready to attack the $6 mark at the start of today’s trading, as the coin spent the better part of the morning session defending the Tuesday gains. The cryptocurrency finally managed to break through the barrier in late morning trading, thanks to another major price jump. After trading around the $6.20 level for a couple of hours, EOS continued its advance, eyeing the $6.50 level. At the time of writing, the EOS price was hovering around $6.40, according to data from digital currency tracker Coinmarketcap. This is EOS’ highest price level since August 8.
At the moment it’s not clear what has been driving the EOS resurgence. However, in the past few days the wider cryptocurrency market has been enjoying a strong uptrend, with some altcoins having been particularly impressive. Being one of the more prominent altcoins, EOS might have been able to attract a significant portion of this newly-found investor demand for crypto.
In today’s trading, the EOS price stood at $6.39, as of 13:3 BST. The digital coin has gained 17.8% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at nearly $5.8 billion.