Eos leads cryptocurrency price declines

Cryptocurrency prices were under pressure on Tuesday, with the losses among the top 10 cryptos by market capitalisation led by eos.

Eos price falls, leading the rest of the cryptocurrencies lower

Eos has been under much scrutiny during the past month since it launched its own network.

Eosio attack

The Eosio system has come under attack – last month its block producers received orders to freeze the accounts of several users. The order turned out to be fake, and subsequent investigations suggested the attack was aimed at inciting mistrust in the project.

Eos has not been without its share of controversy. Despite the $4bn raised in the world’s biggest ever initial coin offering, developing the Eosio network took some time, and just two days after launch last month it was hit by a bug that caused a five-hour outage.

Worse performers

While losses for eos token amounted to 14.5% over the last three trading sessions, it was not the worst-performing of the top 10 digital tokens over the last seven days.

That distinction went to cardano, which is down nearly 18% over the past week.

Let’s take a look, then, at today’s price movements in the top 10 cryptocurrencies. The seven-day move is in brackets:

• Bitcoin fell 3.5% to $6,472 (+0.3%)
• Ethereum lost 6.9% to $449.25 (-3.3%)
• Ripple shed 5.3% to $0.45 (-8.1%)
• Bitcoin cash slid 5.5% to $715.44 (-8.9%)
• Eos tumbled 12.5% to $7.56 (-15.5%)
• Litecoin fell 6.8% to $76.41 (-6.8%)
• Stellar lumen lost 7.8% to $0.20 (-7.4%)
• Cardano shed 9.4% to $0.13 (-17.9%)
• Iota fell 9% to $0.98 (-16%)
• Tether held at $1 (+0.9%)