After spending two weeks out of the top 50 tokens by market cap, EOS has made its way back into the list this week. Following another epic run these past 7 days, EOS saw bullish trades that led to a sharp wick to the upside marking a 17.67% rise in its price in the space of two hours. This signaled that perhaps a whale, or a couple of them, were purchasing EOS at that point in time.
Interestingly, leading up to the rally Brock Pierce, cofounder of Block.one and CEO of Helios - an EOS VC Fund, made a claim that he had sold all of his shares in Block.one, including his portion of 240,000 BTC in the company.
A few days later, Iconic Funds, a crypto asset management company, announced that it will be creating the first EOS ETP (Exchange Traded Product) for the European financial market. Meaning traditional investors would - for the first time - gain access to EOS through the traditional products they’re already accustomed with.
That news and the statement by Brock Pierce led the EOS price to briefly cross the $3 mark this week for the first time since January of this year, leading many members of the community to believe this to be the signal for a parabolic move up for the token this year.
EOS has been steadily increasing for three consecutive weeks now, with 12%, $14%, and 11% week-to-week increases. The cryptocurrency has also had solid days where it's been a top performer in the market.
As of writing EOS is currently trading at $2.82 (up from $2.55 last week) with $432 million in daily trading volume and a market cap of $2,779,630.360 to place it in position 50 on CoinMarketCap.