Eos climbs 48% in anticipation of airdrop
From Tuesday to Wednesday, the price of the altcoin Eos had jumped slightly more than 30%. Now, in the past 24 hours, it has continued to climb and now is trading 48% higher than it was a week ago. While the market has improved overall, the jump is the highest seen among the cryptocurrencies, and is most likely being fueled by a pending airdrop.
The eosDAC airdrop is just a few days away, scheduled to take place on April 15. When it happens, any user with at least 100 EOS tokens in his or her wallet will automatically receive the equivalent amount in eosDAC tokens. For those that have less than 100 EOS at the time of the drop, they can manually claim their eosDAC tokens once given the go-ahead.
April 15 is the 300th day of the EOS initial coin offering (ICO). EOS was introduced to offer a platform for decentralized application (dapp) developemnt. It provides a set of services similar to a computer's operating system, which allows developers to create dapps that are streamlined and consistent in programming.
As of this publication, Eos is trading at $8.81. It has skyrocketed in value over the past couple days, and now has a $6.95 billion market cap. Eos has now taken over Litecoin to be the fifth largest altcoin in terms of market cap. Litecoin sits at $6.78 billion.