In today’s edition of crypto news, we’ll cover why EOS is surging and the details behind why a Ripple executive isn’t phased by the current crypto bear market.
EOS Surges as Other Coins Fall
EOS is currently leading the top 40 cryptocurrencies for total market gains this weekend. The world’s seventh-largest cryptocurrency project has received a wave of criticism as of late for its lack of decentralization. This weekend, EOS jumped up more than 16%.
At this time, it remains unclear why the coin surged so much.
Coinbase is exploring the addition of 30+ new digital assets. It’s our goal to offer support for all assets that meet our standards and are compliant with local law. https://t.co/Hl2zbVodLl
— Coinbase (@coinbase) December 7, 2018
Three days ago, Coinbase announced that it was looking into supporting 30+ digital assets, and EOS was a part of the list. However, the other 29 coins listed in the press release haven’t seen any substantial surges. According to CoinMarketCap, EOS is currently trading at $2.01 a coin, up 5.13%, in 24 hours. Bitcoin (BTC) is currently trading just below the $3,550 mark, and Ethereum (ETH) is trading just below $100.
Ripple Exec “Isn’t Phased” by Current Bear Market
Crypto news has been slow the past week, as digital currencies have hit year-lows. Early last week, the market started to correct and trend upward—only to crash again days later. Many analysts are dumbfounded with the sharp corrections that have taken place recently and high volatility. Has the market really matured?
Still, not everyone is freaking out about the current crypto bull market. This past week, Asheesh Birla, Senior BP of Ripple Product Management, spoke with PCMAg media and said he isn’t phased by the current crash.
“This is my third crash now in the crypto-market, and I am not phased by it. The flip side is that sometimes you crash and take out all the folks who are not focused on solving real problems and real use cases. And, I think you are going to see some really interesting companies come out of this next downturn.”
Many of these blockchain founders aren’t focused on their coin’s day-to-day volatility because they are focused on the execution of the project’s bigger vision. When the vision is running, and in investors’ hands, its coins price should reflect its usefulness.
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