EOS bulls dominate- Here’s how China can help sustain the price rise

China blockchain Ethereum EOS

20.02.2023 - 11:37

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ambcrypto.com:

The EOS cryptocurrency achieved a 25% rally in just three days. A contrast to its previous struggle to overcome a resistance range in which it was stuck since the last week of January.

Is this just a fluke rally or is there something more to it?

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Recent data suggests that there might be more to this EOS rally than meets the eye and it might involve China. Earlier this year we saw prospects of China potentially switching gears in favor of a softer approach to cryptocurrencies.

In other words, we might see a strong surge in liquidity from China and EOS might absorb a substantial proportion.

The alt has previously been the favorite cryptocurrency for many Chinese traders. This is according to a ranking done by China’s Center for Information and Industry Development.

The EOS network managed to outshine some of the top blockchain networks including Ethereum as per the ranking.

<p lang=«en» dir=«ltr» xml:lang=«en»>China’s Center for Information and Industry Development has published its 24th Rankings of Crypto Projects.$EOS $ETH $IOST $TRX $XTZ $QTUM $GXC $NEO $XLM $DASH $LSK $BTS $BTC $ONT $KMD $STEEM $NULS $ETC $ATOM $XRP $STRAT $XMR $NAS $NANO $ARK $LTC $WAVES $XVG $ZIL $BCH $HSR $ADA pic.twitter.com/GrTJQeqnrc

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