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EOS has been pumping real hard these past days. This price surge does influence the market cap of the coin (currently at $10
.855 Billion dollars) which pushed it all the way to number 20th-ranked cryptocurrency amongst other great reputable projects like Solana, VeChain, Chainlink, BNB, and Polkadot.
EOS is undoubtedly the newest large-cap altcoin in the crypto space currently. While we're still in altcoin seasons, EOS has chosen to be the leader of the pack as its price surges amidst the dip.
Firstly, a slight reason for the upward movement is occurring at the crossroads of two unique price trends. However, the EOS/USDT trading pair is on the rise, while the token price against Bitcoin (BTC) is relatively low.
lastly, as Bitcoin begins to gain dominance which has continuing sliding amid crazy altcoin gains, a % of these gains are channeled into EOS hence the price surges. Among many others, crucial altcoins like Bitcoin Cash (BCH), Solana (SOL), and TRON (trx) have also experienced massive price surges.