EOS price shoots up by over 11% as Weiss Rankings place it above Bitcoin [BTC]

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The latest Weiss Crypto Rankings saw EOS take the top spot behind XRP, resulting in a massive surge in the former’s price. The Weiss report titled, “Dark Shadows with a Bright Future,” was published on 26 March and ranked the coins in terms of the dichotomy of technology and adoption.

XRP topped the charts following its slew of announcements and partnerships around the globe, with EOS taking the second spot, ahead of Bitcoin [BTC] and surprising many in the cryptocurrency community.

EOS was since seen pumping, edging ever closer to the bullish Litecoin [LTC] at the fourth position on the CoinMarketCap list. As the collective market posted a market cap of $141 billion, EOS led the way by recording the only double-digit gain against the US Dollar.

Prior to the Weiss Rankings’ release, the coin was trading at $3.64 and saw a minor rise to $3.71 as the day turned. EOS’s massive bump began at 0030 UTC on 27 March, as the coin shot up by 9.48 percent to reach $4.04 in a matter of two hours. The price further increased to $4.06, where it was trading at press time. The coin gained against the US Dollar by a massive 11.03 percent.

Source: Trading View

The virtual currency’s valuation skyrocketed to $3.63 billion within a few hours of the rankings release, after stagnating around the $3.3 billion mark for a while. This was its highest valuation in March. At press time, the coin’s market cap stood at $3.68 billion, trailing Litecoin by under $40 million and looking to take the fourth spot.

Bit-Z took the top spot in terms of exchange dominance, accounting for 6.84 percent of the global EOS trading volume via the trading pair EOS/USDT. Other prominent exchanges in the list included BW.com, OKEx, ZBG, and Bibox.

EOS also performed well on the new metric released on CoinMarketCap. The Fundamental Crypto Asset Score or FCAS, placed EOS at the top spot, above coins like Bitcoin, Ethereum and XRP.

FCAS measures the “project health” based on three core factors: customer activity, developer behavior, and market risk. EOS notched an FCAS score of 914, the highest on the list while Bitcoin, Ethereum and XRP recorded 885, 909 and 751, respectively.


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