This week's altcoin price analysis is an indicator that altcoins are pretty much under pressure at the moment regarding growth expectations.
Over the last week, the crypto market capitalization has decreased by approximately 20% - from 350 to 279 billion US dollars.
Today, June 9, at 13:00 UTC, the designated EOS blockchain manufacturers will launch the main network. This decision was made almost unanimously during the voting that took place this night.
EOS Classic (EOSC) is moving fast, as the main blockchain network, using the Proof-of-Work Ethash consensus algorithm, will be launched on June 9.
Against the background of aggravation of economic tension due to trade wars between the US and the rest of the world, the cryptocurrency market continues to increase its capitalization.
The results of the EOS Authority snapshot show that 49.67% of all tokens (496,735,539) are contained only on ten addresses. At the same time, 100 million EOS tokens (approximately $1.5 billion) belong to the Block.one start-up, in addition to nearly $4 billion in Ethereum-equivalent collected during the ICO.
Rob Sluymer, managing director and technical strategist at Fundstrat Global Advisors, believes that from the technical analysis point of view, the price of BTC this week demonstrated positive dynamics within the three-stage correction process to the lowest possible level.
EOS team has made a huge impact on the market. On the morning of May 28th, the volume of Ethereum trading on the Bitfinex exchange within an hour increased 9-fold - from 20 000 to 180 000.
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