EOS Soars As 5th Largest Crypto Ahead Of Airdrop

Apr 13, 2018 at 5:39

The EOS price continued to spike for the second consecutive day on Thursday, leading the climb among major cryptocurrencies as it nears the eosDAC airdrop.

Based on data from CoinMarketCap, EOS rose to $8.98 as of this writing and is poised for another bull run.

Trading volume at its peak also ballooned at $2.45 billion, surpassing that of Ethereum which was then at $2.23 billion. More than a third of the trades came from Korea’s Bithumb and Upbit.

The two-day rally pushed the token’s market cap to $7.1 billion, eclipsing Litecoin’s $7.05 billion, as the fifth largest cryptocurrency in terms of market cap.

Traders attributed the climb to the upcoming eosDAC airdrop to EOS holders. On April 15, EOS token holders owning at least 100 coins will receive an equivalent number of eosDAC tokens.

BlockMaker Ltd., the maker of eosDAC, created a total supply of 1.2 billion tokens, of which 75 percent (900 million) of these tokens have been allocated for an airdrop to EOS token holders.

“All Ethereum accounts that have 100 or more EOS tokens in them at the snapshot on the 15th April will automatically receive the airdrop,” it said.

“Any accounts with less than 100 tokens will not automatically receive the airdrop but will be eligible (until 15th May 2018) to apply through a method, which will not require any personally identifiable data, detailed closer to the date of the snapshot,” it added.