Following the short bull run that occurred over the past few days, many members of the community expected the markets to once again see losses but instead, they were pleasantly surprised.
Despite all the pessimism, the markets are continuing to see green and it seems that EOS and Litecoin are leading the herd.
In addition to this, the market cap for all cryptocurrencies has reached a six week high of $136 billion as a further $3 billion came flooding into the crypto space over the last 24 hours. The two main cryptocurrencies that are dominating the space is EOS and Litecoin which are currently in fourth and fifth place according to CoinMarketCap, respectively.
EOS has been doing very well recently although it's hard to pin down what exactly the cause of this other than the fear of missing out. At the current time of writing EOS is worth $3.86 following a 6.65 percent increase and has a market cap of $3,499,453,446.
A number of community and developer events have been keeping things afloat for a while now as well as the increasing number of dApps on the decentralised platform. Even so, the momentum is most likely based on the actions of Bitcoin as it is tantalisingly close to the $4,000 key resistance level.
The fifth largest cryptocurrency in the space is Litecoin which is also keeping its momentum going as this small bull run continues. Over the past 24 hours, Litecoin saw a 5.70 percent increase leaving it with a price of $51.32 and a market cap of $3,197,949,037.
The market gains saw Litecoin’s market cap go over $3 billion which is the first time in over three months and it secured it in fifth place just $400 million behind EOS. Ever since the lows of 2018 where LTC was $23 during December’s ‘big dump’, Litecoin has recovered an impressive 122 percent to its current levels. This has outperformed Bitcoin by a mile and makes LTC one of the top of crypto assets.
So will Litecoin and EOS continue to fly high? Only time will tell however if things keep going the way they are then the crypto space is in for a treat.