The ongoing cryptocurrency rally spearheaded by Bitcoin could be seen as the reasons almost all altcoins are doing fantastic in the market, however, the looks of things in the past few hours dictates some certain digital currencies are performing excellently than Bitcoin which has seen its price tilt towards the grounds.
While analysts are expecting the price of Bitcoin to go higher past $10,000, the digital currency continues to stay around $8,700.
EOS, Ripple’s XRP, ZCash (ZEC) Top Crypto Net Inflows
Data made available by CoinNess.com shows that between the hours of 00:00 to 10:00 (UTC) on May 28, EOS saw a net inflow around $34 million.
The massive inflow size was followed by Ripple’s XRP, ZCash (ZEC), which saw around $16.58 million and $15.53 million respectively.
However, Bitcoin, Bitcoin Cash (BCH) and TRON (TRX) led the net cap outflows in the cryptocurrency space with -$36.04 million), -$12.86 million and -$11.00 million respectively.
In the last 24hours, Ripple’s XRP is changing hands at $0.427. The digital currency has seen a price upsurge of 4%. XRP has a 24hr market volume of $2.8 billion.
EOS is leading the top 10 cryptocurrencies in terms of price gain in the last 24 hours. The digital asset has a market value of $7.99 with 14% price increase and a 24hr market volume of $5.8 billion.
Also, ZCash, a privacy token, seats on the 23rd position with a price increase of 12%. ZEC has a market price of $85.16 with a 24hr market volume of $624 million.
Behind the Price Increase
It may be hard to actually point specifically at the reasons behind the price gain of Ripple’s XRP and ZCash. The widely publicized rumour that EOS’s expected big announcement of June 1 may be a tech giant constituted to the price increase of EOS.
The rumour is being fuelled by the buzz that Block.one, the firm behind EOS blockchain protocol, intend to make a big announcement on June 1 2019.
The rumour heightened when Block.one revealed it has acquired around $20 million equivalence of RAM on EOS.
To cushion the effect of the rumour, CEO and co-founder of Block.one, Brendan Blumer, said EOS is not partnering with Facebook or Google, and it is not planning airdrops for its subscribers.
“We are excited about B1June, but encourage everyone to be realistic in their expectations – there are some wild rumours out there which are just not true. Big news for some, may not be for others. No Facebook, Apple, or Google partnerships. No Airdrops. Stay calm, keep building.”
Disclaimer: Article not intended for financial reasons, it is written solely for informational and educational purposes. Investing in cryptocurrency and other coins are dangerous due to volatility of crypto asset. Take caution before investing in any digital currency.