- EOS leads today’s rally with an 18.89% surge, driven by its fee-less DPoS blockchain and developer-focused upgrades.
- Stacks jumps 15.46%, gaining investor traction as the leading smart contract layer for Bitcoin.
- Zcash climbs 8.61%, as demand for privacy-focused cryptocurrencies sees renewed interest in zk-SNARK technology.
The cryptocurrency market is seeing a sharp spike as of May 8, with EOS, Stacks (STX), and Zcash (ZEC) leading the pack. For its part, however, the price of these new digital assets is soaring and gaining the attention of investors and analysts.
EOS (EOS)
Consequently, EOS has surged and it is currently selling at $0.8210, up a whopping 19% in the past 24 hours. The token’s 24-hour trading volume stands at $336.5 million, and it boasts a market capitalization of $1.28 billion, securing the #61 spot on CoinMarketCap.
EOS, which has been known for its blockchain platform with high performance, has been working overtime to enhance scalability and developer experience. Its transactions have nearly no transaction fee with the Delegated Proof of Stake (DPoS) consensus mechanism, which makes it a more attractive option for decentralized application (dApp) developers.
Stacks (STX)
According to Coinmarketcap, Stacks is trading at $0.8899 with a 15.46% rise in the last 24 hours. With a 24-hour trading volume of $172.8 million and a market capitalization of $1.36 billion, Stacks holds the #56 position on CoinMarketCap.
Stacks is the Bitcoin layer for smart contracts that enables decentralized applications to use Bitcoin as an asset (or currency) and Bitcoin blockchain as a settlement chain. As a secure and efficient environment to develop in Bitcoin’s already excellent network, it uses its Proof of Transfer (PoX) consensus mechanism and Clarity smart contract language.
Zcash (ZEC)
In terms of price action, Zcash is currently trading at $40.89, appreciated by 8.61% in the past 24 hours. The privacy-focused cryptocurrency has a 24-hour trading volume of $77.8 million and a market capitalization of $650.2 million, ranking it at #96 on CoinMarketCap.
Zcash utilizes zk-SNARK a type of zero-knowledge proof technology that proves transactions can be verified without making the participants’ data available. Zcash has been a breath of fresh air offering a private and anonymous transaction on a public blockchain.
In EOS, Stacks, and Zcash, the prices saw very big gains which speaks for some level of bullish feelings in the crypto market. Technology innovations, Blockchain solution adoption, and growing curiosity for privacy-driven digital assets are fuelling this growth.
For this reason, it is also wise for investors to research and see the market volatility before making investments. Top gainers’ performance suggests that the landscape of cryptocurrency is ever-changing and a chance of making huge returns.
