Although leading cryptocurrencies have posted recent gains of 5 to 7%, last week put a dent in investors hopes that the market was set for another massive bull run. After falling to lows of $360 in early April, Ethereum hit a high of $800 before falling down as low $620 last week. Other leading cryptocurrencies moved in a similar pattern, including EOS, which stumbled from a recent high of $20 to roughly $13. Meanwhile, bitcoin is now trading at roughly $8,300 – dashing expectations that it would soon break the $10,000 barrier again. It’s unclear what caused the rapid fall but there appears to be somewhat of a stagnation in the cryptosphere lately with many key players eagerly awaiting the release of the EOS mainnet and grappling with their own scaling problems.
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