Cryptocurrency
EOS Falls 12% In Selloff
EOS Falls 12% In Selloff
Investing.com – EOS was trading at $1.2860 by 07:36 (11:36 GMT) on the Investing.com Index on Saturday, down 11.60% on the day. It was the largest one-day percentage loss since May 11.
The move downwards pushed EOS’s market cap down to $1.2675B, or 0.10% of the total cryptocurrency market cap. At its highest, EOS’s market cap was $17.5290B.
EOS had traded in a range of $1.2730 to $1.3800 in the previous twenty-four hours.
Over the past seven days, EOS has seen a drop in value, as it lost 37.28%. The volume of EOS traded in the twenty-four hours to time of writing was $371.7024M or 0.37% of the total volume of all cryptocurrencies. It has traded in a range of $1.1156 to $1.9911 in the past 7 days.
At its current price, EOS is still down 94.40% from its all-time high of $22.98 set on April 29, 2018.
Elsewhere in cryptocurrency trading
Bitcoin was last at $28,945.7 on the Investing.com Index, down 5.01% on the day.
Ethereum was trading at $1,982.30 on the Investing.com Index, a loss of 6.10%.
Bitcoin’s market cap was last at $552.1451B or 44.57% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $239.5017B or 19.33% of the total cryptocurrency market value.
Was Terra’s UST cataclysm the canary in the algorithmic stablecoin coal mine?
The past week has not been an easy one. After the collapse of the third-largest stablecoin (UST) and what used to be the second-largest blockchain after Ethereum (Terra), the depeg contagion seems to be spreading wider.
While UST has completely depegged from the U.S. dollar, trading at sub $0.1 at the time of writing, other stablecoins also experienced a short period where they also lost their dollar peg due to the market-wide panic.
Asset-backed stablecoins were in favor during downturn, except for USDT
Are algorithmic stablecoins finished?
Meta trademark filing hints at plans for crypto payments platform
Social media giant Facebook (NASDAQ:FB)’s parent company, Meta, may be planning to launch a payments platform with support for cryptocurrency.
According to records submitted to the United States Patent and Trademark Office, or USPTO, on May 13, Meta filed five applications for its namesake to be used in a platform called Meta Pay. The filings included Meta’s name for use in a “online social networking service for investors allowing financial trades and exchange of digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digitized assets, digital tokens, crypto tokens and utility tokens.”
Price analysis 5/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
On May 17, United States Federal Reserve Chairman Jerome Powell told the Wall Street Journal that the 50-basis-point rate hikes would continue until inflation is under control. Powell’s emphasis on a hawkish policy suggests that monetary conditions are likely to remain tight in 2022, which could limit the upside in risky assets.
On-chain market intelligence firm Glassnode said that historically, Bitcoin (BTC) has bottomed out when the price breaks below the realized price. However, barring the 2019 to 2020 bear market, during previous bear cycles, Bitcoin’s price stayed below the realized price for anywhere between 114 to 299 days. This suggests that if macro situations are not favorable, a quick recovery is unlikely.
Synopsys Shares Up 4% Following Q2 Beat, Upbeat Guidance
© Reuters. Synopsys Shares Up 4% Following Q2 Beat, Upbeat Guidance Synopsys (NASDAQ:SNPS) shares were trading more than 4% higher...
Under Armour CEO Frisk Steps Down After 5 Tumultuous Years
© Reuters. Under Armour CEO Frisk Steps Down After 5 Tumultuous Years Under Armour, Inc. (NYSE:UA), announced that Patrik Frisk...
Democrats warn abortion, voting rights at stake in Pennsylvania governor’s race
© Reuters. FILE PHOTO: Pennsylvania State Senator Doug Mastriano speaks at a protest against the state’s extended stay-at-home order to...
Was Terra’s UST cataclysm the canary in the algorithmic stablecoin coal mine?
Was Terra’s UST cataclysm the canary in the algorithmic stablecoin coal mine? The past week has not been an easy...
Massachusetts identifies first 2022 U.S. case of monkeypox infection
2/2 © Reuters. An electron microscopic (EM) image shows mature, oval-shaped monkeypox virus particles as well as crescents and spherical...
U.S. lodges labor complaint against Panasonic in Mexico
© Reuters. FILE PHOTO: A logo of Panasonic Corp is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced...
Meta trademark filing hints at plans for crypto payments platform
Meta trademark filing hints at plans for crypto payments platform Social media giant Facebook (NASDAQ:FB)’s parent company, Meta, may be...
Cisco Shares Plunge 17% on Q3 Revenue Miss and Disappointing Outlook
Cisco Shares Plunge 17% on Q3 Revenue Miss and Disappointing Outlook Cisco Systems (NASDAQ:CSCO) shares dropped around 17% after-hours Wednesday...
Cisco shares plunge after China lockdowns, Ukraine crisis hits outlook
© Reuters. FILE PHOTO: The Cisco Systems logo is seen as part of a display at the Microsoft Ignite technology...
NASA set for Boeing’s Starliner uncrewed space capsule test
© Reuters. FILE PHOTO: The Atlas V rocket carrying Boeing’s CST-100 Starliner capsule is seen after the launch to the...
Under Armour CEO Frisk to step down
© Reuters. FILE PHOTO: Under Armour clothing is seen for sale in a store in Manhattan, New York City, U.S.,...
Turkey’s Erdogan links Sweden, Finland NATO bid to return of ‘terrorists’
© Reuters. FILE PHOTO: Turkey’s President Tayyip Erdogan holds a news conference during the NATO summit at the Alliance’s headquarters...
U.S. warns North Korea could greet Biden with nuclear, missile tests
© Reuters. FILE PHOTO: FILE PHOTO: North Korean leader Kim Jong Un walks next to what state media reports is...
Wall Street ends sharply lower as Target and growth stocks sink
Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury
© Reuters. FILE PHOTO: The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14,...
U.S. stocks lower at close of trade; Dow Jones Industrial Average down 3.57%
© Reuters U.S. stocks lower at close of trade; Dow Jones Industrial Average down 3.57% Investing.com – U.S. stocks were...
Cisco cuts results forecast on China lockdowns, Ukraine crisis; shares plunge
© Reuters. FILE PHOTO: The Cisco Systems logo is seen as part of a display at the Microsoft Ignite technology...
Stocks pummeled by growth worries, U.S. dollar climbs
2/2 © Reuters. A passerby wearing a protective face mask walks past an electric screen displaying a graph showing Japan’s...
Price analysis 5/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Price analysis 5/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB On May 17, United States Federal Reserve...
Fed’s Harker: soft landing possible, not forecasting recession
© Reuters. FILE PHOTO: A worker weighs meat at a butcher shop at Reading Terminal Market after the inflation rate...
Under Armour CEO to Step Down
© Reuters. By Yasin Ebrahim Investing.com — Under Armour said Wednesday Patrik Frisk would be stepping as chief executive on June...
Early polling from Terra vote indicates 91% are in favor of ‘rebirth’
Early polling from Terra vote indicates 91% are in favor of ‘rebirth’ Terraform Labs CEO Do Kwon’s plan to create...
Stock Market Today: Dow in Biggest Slump Since 2020 on Turmoil in Target, Tech
© Reuters By Yasin Ebrahim Investing.com — The Dow slumped Wednesday, as a selloff in tech and a plunge in Target’s...
Wall Street ends sharply lower as Target and growth stocks sink
2/2 © Reuters. FILE PHOTO: A trader works on the floor of the New York Stock Exchange (NYSE) in New...
Cisco Earnings Beat, Revenue Misses In Q3
© Reuters. Cisco Earnings Beat, Revenue Misses In Q3 Investing.com – Cisco (NASDAQ:CSCO) reported on Wednesday third quarter earnings that...
U.S. health secretary tests positive for COVID on trip to Berlin
© Reuters. FILE PHOTO: Secretary of Health and Human Services Xavier Becerra testifies before the Senate Health, Education, Labor, and...
Can dogs be pets, N.Y. judge asks lawyer trying to free Happy the elephant
2/2 © Reuters. An elephant named Happy is pictured in the Bronx Zoo, in New York City, New York, U.S.,...
Fed’s Harker sees 50 bps rate hikes in June, July, then ‘measured’ hikes
© Reuters. FILE PHOTO: Shoppers are seen wearing masks while shopping at a Walmart store, in North Brunswick, New Jersey,...
Synopsys Earnings, Revenue Beat in Q2
© Reuters. Synopsys Earnings, Revenue Beat in Q2 Investing.com – Synopsys (NASDAQ:SNPS) reported on Wednesday second quarter earnings that beat...
Tesla’s Musk says he ‘can no longer support’ Democrats, ‘will vote Republican’
© Reuters. FILE PHOTO: Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide,...
Coronavirus6 months agoBiden administration still seeking agreement from Mexico on return of asylum seekers
Cryptocurrency6 months agoNFT World Records: CryptoDragons Sold Out 500 Eggs in Its Primary Pre-Sale in Тhe Тwinkling of аn Еye!
Economy6 months agoAnalysis-Europe’s big payday remains elusive even as inflation surges
Cryptocurrency7 months agoCrypto.com is the #1 app in the Google Play Store in the US
Cryptocurrency6 months agoThe Next Web 3.0 Social Media Will Be Built on Solana
Cryptocurrency6 months agoBinance.US aims for ‘mega funding,’ reveals CZ
Forex6 months agoDollar Consolidates After Strong Gains; Tapering Could Be Speeded Up
Economic Indicators6 months agoAustralia third-quarter business investment slips, outlook surprisingly resilient