While other cryptocurrencies continued to fluctuate with positive trends, EOS has been slower recently, until today. There’s been an 8% uprise of EOS price in the last 24 hours.
What caused this hike of EOS?
As the chart below demonstrated, on December 17, 2018, EOS showed a substantial recovery reaching 35% gains before stabilizing between the December 18 and today. Now EOS is moving again.
China’s Global Public Blockchain Technology Assessment Index
Public index influences how market reacts to cryptocurrencies. As the news trickles through to the markets, other blockchains that featured well on the list are also seeing sharp price increases since the index was published. We can tell it has really influenced the EOS rally.
On December 21, China’s Center for Information and Industry Development (CCID), under the Country’s Ministry of Industry and Information Technology, published its Global Public Blockchain Technology Assessment Index (GPBTAI). EOS stands firmly at the top the list with 156 points far ahead of Ethereum, which came second at 136.
BitShares left its previous third place to GXchain, which scores 117 in the blockchain index. GXScoin has also surged, increasing nearly 5% in current 24 hours. GXchain is the 104th cryptocurrency by market capitalization. BitShares (BTS) is currently 44th by market capitalization and increase just over 2% in the past 24 hours.
GXchain Price Source: CoinMarketCapKomodo (KMD), Ontology (ONT), NULS (NULS), Nebulas (NAS), NEO (NEO), and Steem (STEEM) are also in the Ministry of Industry and Information Technology’s favorites. Of these, the Ontology blockchain has been included in the index for the first time and ONT price rose immediately after, currently showing a near 7% rise in the past 24 hours. Another popular blockchain in China and globally, NEO, has also seen its price increase today and is up nearly 14% in the last 24 hours.
With the Ethereum blockchain still ranked second by China, the list may have helped the performance of ETH too. ETH is still up over 13% in the past 24 hours and 46% over the past seven days. Analysts noted ETH has seen a record-high number of shorts on trading platforms and across the seven-day period commencing December 16, ETH recovered by 66%.
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