Picking up from where it left off last week, EOS has continued to gain market share in the cryptocurrency market. The current bearish cycle has been a blessing in disguise for the project as investors look into investments with strong fundamentals, projects that will likely lead in the next bull run.
“The best investments are made during bear markets”
During bear markets the experienced investors are looking for bargains in the market; projects that are priced at a lower rate than what their fundamentals suggest they are worth. In a highly speculative market like cryptocurrencies these projects are few and far between.
As declining prices force investors to be extremely careful about what they invest in, it seems EOS’ superior qualities are being recognized by the market. There’s two instances that can be credited to how well EOS has managed to maintain a rising market share where others are losing.
This week, the U.S. Securities and Exchange Commission (SEC) also announced that it is strengthening its unit which it says is “responsible for protecting investors in crypto markets & from cyber related threats”. This means the SEC will be targeting ‘fraudulent and unregistered token (crypto) sales’, also tokens it deems to be securities under U.S. law.
Once again EOS will remain unaffected by this as the SEC has distinguished the EOS token to be a utility token. Another piece of information that discerning investors are considering when taking up positions on crypto investments, adjusting for risk v.s reward.
As of writing EOS is currently trading at $1.97 (down from $2.06 last week) with $379 million in daily trading volume and a market cap of $1,953,030,477. It has moved up the rankings again this week, jumping two spots from the previous week to 45th currently, based on CoinMarketCap data.
To keep up with more updates on the developments in the EOS ecosystem be sure to set a reminder for next week’s community Fireside Chat - https://twitter.com/i/spaces/1MYxNnqEpEoxw/peek