EOS is up by more than 3% in the last 24 hours and could rally higher after the EOS Foundation launched its ecosystem fund.EOS has been one of the best-performing cryptocurrencies so far today, adding more than 3% to its value in the last 24 hours. If the current trend continues, Eos could see even bigger gains in the coming hours and days.

After CEO Yves La Rose announced the launch of a $100 million ecosystem fund in a Tweet on Sunday, performance immediately improved.

The fund, which is worth $100 million, will go towards investing in EOS projects. It will be administered by EOS Network Ventures and only invest in EOS projects says the CEO.

After last week’s crypto market crash, the market is beginning to recover. The total value of all cryptocurrencies is now $840 billion, a 1% increase from yesterday.

Bitcoin is currently valued at $17,000 after experiencing a 1% increase today. Ether, another cryptocurrency, is being traded above $1,200 and has increased by 2.5% as of now.

Critical levels to watch

Although EOS has been doing well in the past day, the 4-hour chart for EOS/USD remains bearish. The technical indicators suggest that EOS is slowly recovering from its previous decline.

Data Source: Tradingview

The MACD line is below the middle range, but it has been slowly moving up over the last few hours. That shows that the market is slowly being controlled by the people who are buying stocks.

The 14-day relative strength index of 48 means that EOS is not oversold anymore. This is good news. Right now, EOS is trading at $0.9185 per coin.

If the market trend continues, EOS could surpass the $0.9639 resistance level before the day’s end. However, to trade above the $1.0939 resistance in the near term, it will need support from other areas of cryptocurrency trading.

About EOS

EOS is a cryptocurrency designed to support large-scale decentralized applications. EOS was launched in 2017 by block.one, a company that has raised over $100 million to develop EOS’s blockchain platform.

Many analysts believe that EOS could see a surge in demand after the launch of its $100 million Ecosystem Fund. Which will be used to invest in projects and companies building on top of EOS’s platform.

Some analysts also point to EOS’s recent debut on cryptocurrency exchanges as another potential driver of growth for the cryptocurrency.

At this stage, it remains unclear whether EOS will continue to experience price volatility or enter a period of sustained growth going forward. However, one thing is certain: EOS has the potential to continue disrupting the world of cryptocurrency and blockchain technology.

Conclusion

Given EOS’s huge potential and rapidly growing ecosystem. Many analysts believe the cryptocurrency is well positioned to see a surge in interest and investment in the coming months.

Whether this growth will be driven by EOS’s recently launched $100 million fund or other factors remains to be seen. But EOS certainly appears to be heading in the right

Where to buy EOS now

Binance

Binance is a top cryptocurrency exchange globally, offering over 600 different digital coins to select from. It has more features and tools catered towards veteran investors but can still be used by beginners.

In addition to having low trading fees, Binance also offers a variety of other benefits that users can exploit, such as peer-to-peer trading, margin Trading and spot Trading.

Buy EOS with Binance today

Coinbase

If you’re new to the cryptocurrency world, Coinbase is a great exchange to start with. Its platform was built with beginner investors in mind and it offers a large selection of coins – over 100!

The Coinbase platform has excellent security features, a wide range of diverse options and storage methods for users’ cryptocurrency. For example, you can store your coins on the Coinbase exchange.

Buy EOS with Coinbase today

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James Atkins

I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.