For the first time in crypto’s short, fraught history, Tezos (XTZ)—a cryptocurrency that occupies the number 10 spot on the crypto industry’s list of top 20 tokens—has surpassed EOS, number eight, in volume, price, and value locked in staking.
At the time of writing, Tezos is also trading for $2.75, while EOS is going for $2.73. XTZ’s trading volume yesterday surged to $95 million—a jump of more than 31 percent compared to the previous day. By contrast, EOS’s volume was $34 million, a spike of just over four percent.
The price surge marks Tezos’s highest price in well over a month. XTZ last traded for this amount on March 8 and 9, when it slid between $2.60 and $2.90.
Tezos also now boasts a considerably larger staking network than EOS. Messari lists the coin in third place behind Cosmos (ATOM) and Synthetix (SNX). The currency has an annual staking yield of nearly 7%. (Of course, annual price fluctuations are often far greater than 7%).
EOS, however, still boasts the larger market cap of the two. Its market cap is $2.5 billion, while XTZ’s is closer to $2 billion. Still, today’s news is a huge step forward for Tezos, considering last week Tezos’s cap was roughly $500 million less.