EOS Displaced Litecoin From 4th Rank After Springing 14.68% On Wednesday
The battle between EOS and the Silver of Bitcoin (Litecoin) over the 4th position is intensifying. In the past four weeks, the two digital currencies have been fighting over the position with each one displacing the other like a system of a pendulum.
At 20:00 GMT+2 on Wednesday, EOS, the infrastructure for decentralized applications soared 14.68% to push Litecoin again from the rank for the 2nd time in a fortnight.
The development has catapulted the Market cap of EOS to over $3.8 billion while Litecoin’s total value is in the region of $3.7 billion. At the time of filing this report, EOS’s market price was $4.21.
From all indications, there is no end in sight to the epic flexing of muscles to command that rank. Currently, EOS is less than $100 million ahead of SatoshiLite.
Will Litecoin Fight Back
Judging from the fight Charlie Lee’s creation has given to EOS so far, it would be a fallacy of a hasty conclusion to say the former won’t fight back. Meanwhile, the latter’s surprise comeback is something resilient.
Given the ongoing introductions on the Litecoin Blockchain like MimbleWimble and the recent buying of a stake in WEG Bank, it is likely the platform is poised for massive mass retail adoption. It would interest you to know that quite a number of projects are migrating from Ethereum to EOS based on scalability premise.
However, EOS is as well getting more than 300 dApps on board its Blockchain of which more than 100 are live or in beta stage.
Projects like EOSbet, Insights Network, Oracle Chain, Horuspay, EOSFinex, to mention but a few, have all found a home on the EOS Blockchain. All these usages create room for growth.
It appears the contest between the two elite coins is not a child’s play. Keep reading QBITtimes for more updates about the battle of dominance over the 4th most valuable Cryptocurrency.